$23.77 Million in Sales Expected for The Joint Corp. (NASDAQ:JYNT) This Quarter

Brokerages expect The Joint Corp. (NASDAQ:JYNT – Get Rating) to announce sales of $23.77 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Joint’s earnings, with the highest sales estimate coming in at $24.30 million and the lowest estimate coming in at $23.23 million. Joint reported sales of $20.22 million during the same quarter last year, which indicates a positive year over year growth rate of 17.6%. The business is scheduled to announce its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Joint will report full-year sales of $99.51 million for the current financial year, with estimates ranging from $98.32 million to $100.70 million. For the next financial year, analysts expect that the firm will report sales of $120.62 million, with estimates ranging from $114.43 million to $126.80 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Joint.

Joint (NASDAQ:JYNT – Get Rating) last announced its quarterly earnings data on Thursday, May 5th. The company reported ($0.01) earnings per share 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 16.09%. During the same quarter in the prior year, the business posted $0.16 EPS.

Several analysts recently commented on the stock. B. Riley downgraded shares of Joint from a “buy” rating to a “neutral” rating in a research report on Friday, May 6th. StockNews.com lowered shares of Joint from a “hold” rating to a “sell” rating in a report on Tuesday. Craig Hallum downgraded shares of Joint from a “buy” rating to a “hold” rating and lowered their price objective for the company from $90.00 to $30.00 in a research report on Friday, May 6th. Lake Street Capital decreased their price target on shares of Joint from $100.00 to $50.00 in a research report on Friday, May 6th. Finally, Roth Capital reduced their price objective on Joint from $75.00 to $40.00 in a research note on Monday, May 9th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $46.00.

Shares of NASDAQ JYNT opened at $16.37 on Friday. Joint has a 52 week low of $14.09 and a 52 week high of $111.06. The stock has a market capitalization of $236.73 million, a price-to-earnings ratio of 52.81 and a beta of 1.31. The firm has a 50-day simple moving average of $30.34 and a 200-day simple moving average of $51.27. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.07.

In related news, CFO Jake Singleton bought 1,515 shares of the firm’s stock in a transaction on Wednesday, March 16th. The stock was acquired at an average cost of $33.00 per share, for a total transaction of $49,995.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Peter D. Holt purchased 1,500 shares of the stock in a transaction that occurred on Wednesday, March 16th. The stock was acquired at an average cost of $33.24 per share, for a total transaction of $49,860.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 188,504 shares of company stock valued at $3,054,695 over the last three months. Corporate insiders own 6.10% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Marshall Wace North America L.P. purchased a new position in shares of Joint in the first quarter worth $47,000. Morgan Stanley lifted its stake in shares of Joint by 131.6% in the second quarter. Morgan Stanley now owns 139,167 shares of the company’s stock worth $11,678,000 after buying an additional 79,076 shares in the last quarter. Raymond James & Associates raised its stake in Joint by 3.1% during the third quarter. Raymond James & Associates now owns 4,214 shares of the company’s stock worth $413,000 after purchasing an additional 128 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Joint by 73.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 629 shares of the company’s stock valued at $62,000 after acquiring an additional 266 shares during the period. Finally, Advisor Group Holdings Inc. raised its stake in shares of Joint by 59.0% in the 3rd quarter. Advisor Group Holdings Inc. now owns 8,284 shares of the company’s stock valued at $811,000 after acquiring an additional 3,075 shares during the period. 86.39% of the stock is owned by institutional investors.

Joint Company Profile (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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