Joint (NASDAQ:JYNT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Joint (NASDAQ:JYNT) from a buy rating to a strong-buy rating in a report issued on Saturday morning.

A number of other brokerages have also recently issued reports on JYNT. Weiss Ratings upgraded shares of Joint from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, June 12th. Zacks Research cut shares of Joint from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Joint presently has a consensus rating of “Hold”.

Joint Stock Up 3.6%

NASDAQ JYNT opened at $8.63 on Friday. Joint has a 52 week low of $7.50 and a 52 week high of $11.26. The business has a 50 day moving average price of $8.76 and a 200-day moving average price of $8.86. The company has a market cap of $123.06 million, a price-to-earnings ratio of 31.96 and a beta of 1.10.

Joint (NASDAQ:JYNT) last issued its earnings results on Thursday, August 6th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.05. Joint had a return on equity of 12.02% and a net margin of 6.49%.The company had revenue of $15.18 million for the quarter, compared to analysts’ expectations of $14.57 million. On average, equities research analysts anticipate that Joint will post 0.51 earnings per share for the current year.

Institutional Trading of Joint

Institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC raised its holdings in shares of Joint by 17.6% in the second quarter. Geode Capital Management LLC now owns 345,330 shares of the company’s stock valued at $3,986,000 after purchasing an additional 51,704 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Joint by 32.3% during the second quarter. JPMorgan Chase & Co. now owns 7,412 shares of the company’s stock worth $86,000 after purchasing an additional 1,810 shares during the last quarter. Rhumbline Advisers boosted its holdings in Joint by 25.9% during the second quarter. Rhumbline Advisers now owns 20,934 shares of the company’s stock worth $242,000 after purchasing an additional 4,307 shares during the last quarter. American Century Companies Inc. grew its position in Joint by 13.9% in the 2nd quarter. American Century Companies Inc. now owns 27,572 shares of the company’s stock worth $318,000 after purchasing an additional 3,366 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Joint by 25.9% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,244 shares of the company’s stock worth $95,000 after purchasing an additional 1,698 shares in the last quarter. Institutional investors own 76.88% of the company’s stock.

About Joint

The Joint Chiropractic, Inc, doing business as Joint (NASDAQ: JYNT), is a franchisor and operator of outpatient chiropractic clinics in the United States. Under its flagship The Joint Chiropractic brand, the company offers membership-based, cash-focused spinal adjustment services designed to promote accessible, routine care for neck and back discomfort. By removing insurance requirements and offering walk-in visits, Joint aims to streamline the patient experience and reduce cost barriers to ongoing chiropractic treatment.

Joint’s growth strategy centers on partnering with franchisees to expand its network of clinics.