Zacks Investment Research cut shares of Joint Corp (NASDAQ:JYNT) from a buy rating to a hold rating in a research report report published on Wednesday morning.
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. “
Other equities research analysts have also recently issued reports about the stock. Maxim Group decreased their price objective on shares of Joint Corp from $8.00 to $5.00 and set a buy rating for the company in a research report on Friday, July 1st. Feltl & Co. cut shares of Joint Corp from a strong-buy rating to a buy rating in a research report on Friday, June 24th.
Shares of Joint Corp (NASDAQ:JYNT) opened at 2.47 on Wednesday. The firm’s market cap is $31.45 million. Joint Corp has a 12-month low of $1.85 and a 12-month high of $7.90. The firm’s 50-day moving average is $2.54 and its 200-day moving average is $2.74.
Joint Corp (NASDAQ:JYNT) last announced its quarterly earnings results on Thursday, August 11th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.27) by $0.01. The business earned $5 million during the quarter, compared to analyst estimates of $3.40 million. Analysts predict that Joint Corp will post ($0.97) earnings per share for the current fiscal year.
In related news, CEO Peter D. Holt bought 30,000 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The shares were acquired at an average cost of $2.66 per share, with a total value of $79,800.00. Following the completion of the purchase, the chief executive officer now directly owns 10,000 shares in the company, valued at $26,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Hedge funds and other institutional investors have recently modified their holdings of the company. Boston Partners raised its position in shares of Joint Corp by 1.1% in the second quarter. Boston Partners now owns 108,550 shares of the company’s stock valued at $220,000 after buying an additional 1,170 shares in the last quarter. Emerald Acquisition Ltd. acquired a new position in Joint Corp during the second quarter worth $108,000. Skylands Capital LLC raised its position in Joint Corp by 12.1% in the second quarter. Skylands Capital LLC now owns 380,734 shares of the company’s stock worth $773,000 after buying an additional 40,950 shares during the period. Finally, Sanders Morris Harris Inc. raised its position in Joint Corp by 7.0% in the second quarter. Sanders Morris Harris Inc. now owns 2,063,581 shares of the company’s stock worth $4,189,000 after buying an additional 134,753 shares during the period.
Joint Corp Company Profile
The Joint Corp. develops, owns, operates, supports and manages chiropractic clinics through direct ownership, management arrangements, franchising and the sale of regional developer rights throughout the United States. The Company is franchisor and operator of chiropractic clinics. The Company offers its patients the opportunity to visit its clinics without an appointment and receive prompt attention.