Joint (NASDAQ:JYNT) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday, Zacks.com reports. The brokerage presently has a $18.00 target price on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 11.04% from the stock’s previous close.
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. “
Several other research firms have also commented on JYNT. BidaskClub lowered shares of Joint from a “buy” rating to a “hold” rating in a report on Saturday, December 7th. TheStreet cut shares of Joint from a “b-” rating to a “c” rating in a report on Monday, January 6th. B. Riley reiterated a “buy” rating and issued a $25.00 price objective on shares of Joint in a report on Friday, January 10th. ValuEngine cut shares of Joint from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, DA Davidson increased their price objective on shares of Joint from $23.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Joint currently has a consensus rating of “Buy” and a consensus price target of $25.50.
Shares of JYNT stock traded up $0.04 during trading hours on Tuesday, hitting $16.21. 256 shares of the company were exchanged, compared to its average volume of 131,058. The firm has a market cap of $226.82 million, a PE ratio of 407.44 and a beta of 0.93. Joint has a 1 year low of $7.92 and a 1 year high of $21.80. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 3.11. The firm has a fifty day moving average of $17.00 and a 200 day moving average of $18.16.
Joint (NASDAQ:JYNT) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.01. The business had revenue of $12.73 million for the quarter, compared to analyst estimates of $11.60 million. Joint had a net margin of 6.57% and a return on equity of 104.54%. Analysts expect that Joint will post 0.21 earnings per share for the current year.
In other news, Director Glenn J. Krevlin sold 100,000 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $17.76, for a total value of $1,776,000.00. Following the completion of the transaction, the director now directly owns 2,500 shares in the company, valued at $44,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 6.10% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System grew its position in shares of Joint by 7.9% in the third quarter. California State Teachers Retirement System now owns 21,689 shares of the company’s stock valued at $404,000 after purchasing an additional 1,584 shares during the last quarter. Morgan Stanley increased its stake in shares of Joint by 1,673.2% in the 2nd quarter. Morgan Stanley now owns 183,772 shares of the company’s stock valued at $3,344,000 after purchasing an additional 173,408 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Joint by 100.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,547 shares of the company’s stock valued at $66,000 after purchasing an additional 1,780 shares during the last quarter. State Street Corp increased its stake in shares of Joint by 27.4% in the 3rd quarter. State Street Corp now owns 245,935 shares of the company’s stock valued at $4,577,000 after purchasing an additional 52,879 shares during the last quarter. Finally, Cadence Capital Management LLC bought a new position in shares of Joint in the 3rd quarter valued at $2,815,000. Institutional investors and hedge funds own 67.44% of the company’s stock.
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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