The Joint Corp. (NASDAQ:JYNT) reached a new 52-week high on Friday following a stronger than expected earnings report. The company traded as high as $5.35 and last traded at $5.34, with a volume of 88992 shares changing hands. The stock had previously closed at $4.79.
The company reported ($0.03) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.03. The company had revenue of $6.55 million during the quarter, compared to analyst estimates of $6.28 million. The Joint Corp. had a negative net margin of 36.74% and a negative return on equity of 94.08%.
Several brokerages recently issued reports on JYNT. Zacks Investment Research upgraded shares of The Joint Corp. from a “hold” rating to a “buy” rating and set a $5.00 price target for the company in a research note on Wednesday, September 27th. Roth Capital began coverage on shares of The Joint Corp. in a research note on Thursday, July 27th. They issued a “buy” rating and a $5.70 price target for the company. Finally, Maxim Group reiterated a “buy” rating and issued a $7.00 price target on shares of The Joint Corp. in a research note on Friday, August 11th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The Joint Corp. has a consensus rating of “Buy” and an average target price of $5.86.
Several institutional investors have recently modified their holdings of the stock. Captrust Financial Advisors bought a new position in shares of The Joint Corp. in the 2nd quarter worth about $791,000. Boston Partners grew its position in The Joint Corp. by 25.4% during the 3rd quarter. Boston Partners now owns 189,200 shares of the company’s stock valued at $901,000 after purchasing an additional 38,300 shares during the last quarter. Russell Investments Group Ltd. grew its position in The Joint Corp. by 28.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 112,900 shares of the company’s stock valued at $538,000 after purchasing an additional 25,000 shares during the last quarter. Finally, White Pine Capital LLC grew its position in The Joint Corp. by 44.2% during the 2nd quarter. White Pine Capital LLC now owns 55,500 shares of the company’s stock valued at $211,000 after purchasing an additional 17,000 shares during the last quarter. Institutional investors own 46.90% of the company’s stock.
The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.22.
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The Joint Corp. Company Profile
The Joint Corp. develops, owns, operates, supports and manages chiropractic clinics through direct ownership, management arrangements, franchising and the sale of regional developer rights throughout the United States. The Company is franchisor and operator of chiropractic clinics. The Company offers its patients the opportunity to visit its clinics without an appointment and receive prompt attention.
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