B. Riley Increases Joint (NASDAQ:JYNT) Price Target to $20.00

Joint (NASDAQ:JYNT) had its target price upped by stock analysts at B. Riley from $12.00 to $20.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. B. Riley’s price objective would indicate a potential upside of 23.99% from the stock’s previous close. B. Riley also issued estimates for Joint’s Q3 2024 earnings at $0.00 EPS and Q4 2024 earnings at $0.04 EPS.

Several other analysts also recently commented on JYNT. TheStreet downgraded shares of Joint from a “c-” rating to a “d” rating in a report on Thursday, March 7th. Roth Mkm reaffirmed a “buy” rating and set a $16.00 price target (up previously from $13.00) on shares of Joint in a research report on Friday, May 3rd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.00.

Joint Price Performance

NASDAQ JYNT opened at $16.13 on Monday. Joint has a one year low of $7.31 and a one year high of $16.39. The business has a 50 day simple moving average of $12.30 and a 200 day simple moving average of $10.27. The stock has a market capitalization of $240.98 million, a P/E ratio of -21.51 and a beta of 1.58.

Joint (NASDAQ:JYNT) last posted its quarterly earnings results on Thursday, March 7th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.04. Joint had a negative net margin of 9.24% and a positive return on equity of 3.94%. The business had revenue of $30.61 million during the quarter, compared to analysts’ expectations of $29.63 million. Equities analysts expect that Joint will post 0.13 earnings per share for the current year.

Institutional Investors Weigh In On Joint

Institutional investors and hedge funds have recently bought and sold shares of the stock. Strs Ohio lifted its stake in Joint by 69.1% during the third quarter. Strs Ohio now owns 25,200 shares of the company’s stock worth $226,000 after purchasing an additional 10,300 shares during the last quarter. Skylands Capital LLC boosted its position in Joint by 24.5% during the 3rd quarter. Skylands Capital LLC now owns 501,790 shares of the company’s stock valued at $4,511,000 after buying an additional 98,900 shares during the period. Verus Capital Partners LLC grew its holdings in Joint by 24.0% in the 3rd quarter. Verus Capital Partners LLC now owns 108,370 shares of the company’s stock worth $974,000 after acquiring an additional 20,950 shares during the last quarter. Barclays PLC raised its stake in shares of Joint by 29.4% during the third quarter. Barclays PLC now owns 13,725 shares of the company’s stock valued at $123,000 after acquiring an additional 3,119 shares during the last quarter. Finally, Quantbot Technologies LP boosted its holdings in shares of Joint by 345.0% during the third quarter. Quantbot Technologies LP now owns 4,170 shares of the company’s stock worth $37,000 after purchasing an additional 3,233 shares during the period. 76.88% of the stock is owned by hedge funds and other institutional investors.

About Joint

The Joint Corp. operates and franchises chiropractic clinics in the United States. The company operates in two segments, Corporate Clinics and Franchise Operations. The Joint Corp. was incorporated in 2010 and is headquartered in Scottsdale, Arizona.