Joint (NASDAQ:JYNT) Cut to Sell at Zacks Investment Research

Joint (NASDAQ:JYNTGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday, Zacks.com reports.

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. “

A number of other brokerages have also recently issued reports on JYNT. StockNews.com raised Joint from a “sell” rating to a “hold” rating in a report on Monday. DA Davidson lowered Joint from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $69.00 to $13.00 in a research note on Monday. Lake Street Capital lowered their target price on Joint from $100.00 to $50.00 in a research note on Friday, May 6th. Roth Capital lowered their target price on Joint from $75.00 to $40.00 in a research note on Monday. Finally, Craig Hallum lowered Joint from a “buy” rating to a “hold” rating and lowered their target price for the company from $90.00 to $30.00 in a research note on Friday, May 6th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $46.00.

Shares of JYNT stock opened at $17.01 on Wednesday. The stock has a market cap of $245.98 million, a P/E ratio of 54.87 and a beta of 1.31. Joint has a one year low of $14.09 and a one year high of $111.06. The stock has a fifty day moving average price of $32.98 and a 200 day moving average price of $54.82. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.25 and a quick ratio of 1.25.

Joint (NASDAQ:JYNTGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.05). Joint had a net margin of 5.39% and a return on equity of 16.26%. During the same period in the prior year, the firm earned $0.16 EPS. Equities research analysts anticipate that Joint will post 0.33 EPS for the current year.

In other Joint news, CEO Peter D. Holt acquired 1,500 shares of the business’s stock in a transaction dated Wednesday, March 16th. The shares were acquired at an average price of $33.24 per share, for a total transaction of $49,860.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jake Singleton acquired 1,515 shares of the business’s stock in a transaction dated Wednesday, March 16th. The shares were acquired at an average price of $33.00 per share, for a total transaction of $49,995.00. The disclosure for this purchase can be found here. 4.60% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA lifted its stake in Joint by 193.1% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 13,690 shares of the company’s stock valued at $1,342,000 after acquiring an additional 9,019 shares in the last quarter. Ensign Peak Advisors Inc lifted its stake in Joint by 121.1% in the 3rd quarter. Ensign Peak Advisors Inc now owns 12,600 shares of the company’s stock valued at $1,235,000 after acquiring an additional 6,900 shares in the last quarter. Avondale Wealth Management bought a new stake in Joint in the 4th quarter valued at approximately $181,000. First Republic Investment Management Inc. lifted its stake in Joint by 96.8% in the 3rd quarter. First Republic Investment Management Inc. now owns 15,345 shares of the company’s stock valued at $1,504,000 after acquiring an additional 7,549 shares in the last quarter. Finally, LPL Financial LLC lifted its stake in Joint by 24.0% in the 3rd quarter. LPL Financial LLC now owns 18,800 shares of the company’s stock valued at $1,843,000 after acquiring an additional 3,641 shares in the last quarter. Institutional investors and hedge funds own 86.39% of the company’s stock.

About Joint (Get Rating)

The Joint Corp. develops, owns, operates, supports, and manages chiropractic clinics. The company operates in two segments, Corporate Clinics and Franchise Operations. It operates through direct ownership, management arrangements, franchising, and regional developers. As of March 1, 2022, the company operated approximately 700 locations in the United States.

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