Joint (NASDAQ:JYNT) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Joint (NASDAQ:JYNT) from a hold rating to a buy rating in a research report report published on Tuesday, Zacks.com reports. Zacks Investment Research currently has $21.00 price target on the stock.

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 equities research analysts have also recently issued reports on JYNT. Roth Capital raised their target price on Joint from $16.00 to $23.00 and gave the company a buy rating in a research note on Monday, June 3rd. TheStreet upgraded shares of Joint from a d rating to a b rating in a research note on Friday, April 26th. B. Riley began coverage on shares of Joint in a research note on Thursday, June 20th. They set a buy rating and a $23.00 price objective on the stock. DA Davidson set a $21.00 price objective on shares of Joint and gave the company a buy rating in a research note on Thursday, May 23rd. Finally, BidaskClub cut shares of Joint from a strong-buy rating to a buy rating in a research note on Tuesday, July 30th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Joint currently has an average rating of Buy and an average target price of $21.00.

JYNT stock opened at $17.96 on Tuesday. The company has a debt-to-equity ratio of 4.38, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $258.48 million, a PE ratio of 449.00, a price-to-earnings-growth ratio of 9.07 and a beta of 0.97. Joint has a 1 year low of $6.51 and a 1 year high of $21.80. The company has a fifty day moving average of $18.86.

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

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

Large investors have recently added to or reduced their stakes in the stock. Marshall Wace North America L.P. acquired a new position in Joint during the first quarter worth about $47,000. Strs Ohio acquired a new position in Joint during the second quarter worth about $63,000. Northern Trust Corp grew its holdings in Joint by 16.1% during 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 during the period. Stonebridge Capital Advisors LLC acquired a new position in Joint during the first quarter worth about $158,000. Finally, Wells Fargo & Company MN acquired a new position in Joint during the second quarter worth about $227,000. 47.48% of the stock is currently owned by hedge funds and other 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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