Joint (NASDAQ:JYNT) Cut to “Buy” at Wall Street Zen

Wall Street Zen lowered shares of Joint (NASDAQ:JYNT) from a strong-buy rating to a buy rating in a research report report published on Sunday.

Other research analysts have also issued research reports about the stock. Weiss Ratings lowered shares of Joint from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, August 13th. Zacks Research lowered shares of Joint from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Joint presently has a consensus rating of “Reduce”.

Joint Trading Up 1.7%

NASDAQ JYNT opened at $8.54 on Friday. The business’s 50-day moving average price is $8.78 and its two-hundred day moving average price is $8.80. Joint has a 12 month low of $7.50 and a 12 month high of $11.14. The firm has a market capitalization of $120.76 million, a PE ratio of 31.63 and a beta of 1.10.

Joint (NASDAQ:JYNT) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.05 earnings per share for the quarter, meeting the consensus estimate of $0.05. The company had revenue of $15.18 million during the quarter, compared to analysts’ expectations of $14.57 million. Joint had a return on equity of 12.02% and a net margin of 6.49%. As a group, analysts forecast that Joint will post 0.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Skylands Capital LLC grew its stake in Joint by 0.4% during the first quarter. Skylands Capital LLC now owns 893,195 shares of the company’s stock worth $7,905,000 after purchasing an additional 3,150 shares during the period. JCP Investment Management LLC bought a new stake in Joint in the second quarter worth approximately $5,526,000. Topline Capital Management LLC lifted its stake in Joint by 18.7% in the second quarter. Topline Capital Management LLC now owns 449,204 shares of the company’s stock valued at $5,184,000 after buying an additional 70,910 shares during the period. Geode Capital Management LLC lifted its stake in Joint by 17.6% in the second quarter. Geode Capital Management LLC now owns 345,330 shares of the company’s stock valued at $3,986,000 after buying an additional 51,704 shares during the period. Finally, State Street Corp boosted its holdings in shares of Joint by 0.8% during the 4th quarter. State Street Corp now owns 292,123 shares of the company’s stock worth $2,547,000 after buying an additional 2,341 shares in the last quarter. 76.88% of the stock is owned by institutional investors and hedge funds.

Joint Company Profile

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.