Joint (NASDAQ:JYNT) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Joint (NASDAQ:JYNT) from a buy rating to a hold rating in a research note released on Thursday morning, Zacks.com reports.

According to Zacks, “The Joint Corp. is a healthcare franchisor of chiropractic clinics. The Company’s plans include: Single Visit, Premium Wellness Plan and Wellness Plan. It also provides a family wellness plan. The Company also provides removal of subluxations. It operates its clinics across: Albany, New York; Austin, Texas; Brentwood, California; Fort Mill, South Carolina; Lubbock, Texas; Lynnwood, Washington; Middletown, New Jersey; San Antonio, Texas; San Diego, California and Spartanburg, South Carolina, among others. The Joint Corp. is headquartered in Scottsdale, Arizona. “

A number of other research firms also recently issued reports on JYNT. DA Davidson downgraded Avon Products from a buy rating to a neutral rating and dropped their price target for the stock from $4.75 to $3.60 in a research report on Thursday, May 23rd. B. Riley set a $13.00 price target on Vista Outdoor and gave the stock a buy rating in a research report on Thursday, June 20th. TheStreet raised Zimmer Biomet from a c rating to a b- rating in a research report on Friday, April 26th. Finally, Roth Capital downgraded Cypress Semiconductor from a buy rating to a neutral rating and increased their price target for the stock from $20.00 to $24.00 in a research report on Monday, June 3rd. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $21.00.

JYNT opened at $19.41 on Thursday. Joint has a 12-month low of $6.51 and a 12-month high of $20.00. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 4.38. The stock’s fifty day moving average price is $17.22. The company has a market cap of $267.57 million, a P/E ratio of 138.64, a price-to-earnings-growth ratio of 9.39 and a beta of 0.97.

Joint (NASDAQ:JYNT) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.06. Joint had a return on equity of 109.02% and a net margin of 4.50%. The business had revenue of $10.68 million for the quarter, compared to the consensus estimate of $8.90 million. On average, equities analysts forecast that Joint will post 0.21 EPS for the current fiscal year.

In related news, Director James H. Amos, Jr. acquired 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The shares were bought at an average price of $16.08 per share, with a total value of $64,320.00. Following the completion of the transaction, the director now directly owns 80,497 shares in the company, valued at $1,294,391.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronald V. Davella sold 10,190 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $16.46, for a total value of $167,727.40. Following the sale, the director now directly owns 15,457 shares in the company, valued at approximately $254,422.22. The disclosure for this sale can be found here. 6.10% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the stock. Marshall Wace North America L.P. acquired a new stake in Joint in the first quarter worth about $47,000. Stonebridge Capital Advisors LLC acquired a new stake in Joint in the first quarter worth about $158,000. Northern Trust Corp boosted its holdings in Joint by 16.1% in the fourth quarter. Northern Trust Corp now owns 16,614 shares of the company’s stock worth $138,000 after acquiring an additional 2,300 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new stake in Joint in the first quarter worth about $302,000. Finally, Tibra Equities Europe Ltd acquired a new stake in Joint in the first quarter worth about $370,000. 51.97% of the stock is currently owned by institutional investors.

About Joint

The Joint Corp. develops, owns, operates, supports, and manages chiropractic clinics. The company operates through two segments, Corporate Clinics and Franchise Operations. It operates through direct ownership, management arrangements, franchising, and the sale of regional developer rights. As of March 07, 2019, the company operated 450 clinics in the United States.

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