Joint (NASDAQ:JYNT) Given New $16.00 Price Target at Lake Street Capital

Joint (NASDAQ:JYNT) had its price target reduced by Lake Street Capital from $20.00 to $16.00 in a report published on Friday,Benzinga reports. They currently have a buy rating on the stock.

Separately, StockNews.com cut shares of Joint from a “buy” rating to a “hold” rating in a research report on Monday, March 17th.

Joint Stock Down 5.2 %

Shares of NASDAQ:JYNT opened at $9.98 on Friday. The firm has a market cap of $152.92 million, a P/E ratio of -8.75 and a beta of 1.54. Joint has a 12-month low of $9.58 and a 12-month high of $17.82. The business has a fifty day simple moving average of $10.89 and a 200 day simple moving average of $11.06.

Joint (NASDAQ:JYNT) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). Joint had a positive return on equity of 8.24% and a negative net margin of 13.95%. The company had revenue of $13.08 million for the quarter, compared to the consensus estimate of $13.02 million. As a group, equities research analysts expect that Joint will post 0.11 EPS for the current year.

Hedge Funds Weigh In On Joint

Several institutional investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN increased its stake in shares of Joint by 51.7% in the 4th quarter. Wells Fargo & Company MN now owns 5,088 shares of the company’s stock valued at $54,000 after acquiring an additional 1,735 shares in the last quarter. Sanders Morris Harris LLC bought a new stake in Joint in the fourth quarter valued at $228,000. BNP Paribas Financial Markets raised its holdings in shares of Joint by 6.8% during the fourth quarter. BNP Paribas Financial Markets now owns 24,031 shares of the company’s stock valued at $255,000 after purchasing an additional 1,521 shares during the period. Squarepoint Ops LLC boosted its position in shares of Joint by 31.9% during the 4th quarter. Squarepoint Ops LLC now owns 24,583 shares of the company’s stock worth $261,000 after purchasing an additional 5,946 shares in the last quarter. Finally, Barclays PLC grew its stake in shares of Joint by 6.9% in the 4th quarter. Barclays PLC now owns 27,380 shares of the company’s stock valued at $291,000 after buying an additional 1,771 shares during the period. 76.88% of the stock is owned by institutional investors and hedge funds.

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.