Joint (NASDAQ:JYNT) Stock Rating Lowered by Zacks Research

Joint (NASDAQ:JYNT) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

A number of other brokerages also recently issued reports on JYNT. Weiss Ratings raised shares of Joint from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, June 12th. Wall Street Zen cut shares of Joint from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 7th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $18.00.

Joint Stock Performance

Joint stock opened at $8.93 on Tuesday. The stock has a market capitalization of $127.34 million, a price-to-earnings ratio of 38.83 and a beta of 1.09. Joint has a 52-week low of $7.50 and a 52-week high of $12.11. The stock’s 50 day moving average price is $8.83 and its two-hundred day moving average price is $8.95.

Joint (NASDAQ:JYNT) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.05. Joint had a net margin of 5.72% and a return on equity of 7.00%. The company had revenue of $14.82 million for the quarter, compared to analysts’ expectations of $14.50 million. On average, equities research analysts forecast that Joint will post 0.51 EPS for the current year.

Insider Activity

In other Joint news, major shareholder Charles E. Jobson acquired 127,676 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was bought at an average price of $8.57 per share, with a total value of $1,094,183.32. Following the completion of the purchase, the insider owned 1,773,479 shares of the company’s stock, valued at approximately $15,198,715.03. This represents a 7.76% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 30.20% of the company’s stock.

Institutional Trading of Joint

Several institutional investors and hedge funds have recently modified their holdings of the business. JCP Investment Management LLC increased its position in shares of Joint by 24.0% in the third quarter. JCP Investment Management LLC now owns 593,906 shares of the company’s stock worth $5,666,000 after purchasing an additional 115,062 shares during the last quarter. Clayton Partners LLC bought a new stake in Joint during the fourth quarter valued at approximately $1,652,000. Skylands Capital LLC lifted its position in Joint by 6.9% during the fourth quarter. Skylands Capital LLC now owns 890,045 shares of the company’s stock valued at $7,761,000 after purchasing an additional 57,767 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Joint by 28.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 26,504 shares of the company’s stock worth $232,000 after buying an additional 5,800 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in Joint by 78.0% in the 4th quarter. Wells Fargo & Company MN now owns 15,476 shares of the company’s stock worth $135,000 after buying an additional 6,784 shares in the last quarter. Hedge funds and other 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.