Joint (NASDAQ:JYNT) Lowered to Hold Rating by Zacks Research

Key Points

• Zacks Research downgraded Joint (NASDAQ:JYNT) from strong-buy to hold, while the stock’s overall consensus rating remains Hold with an average target price of $18.00.
• Joint opened at $8.93 and has a market cap of about $127.34 million, trading near its 50-day and 200-day moving averages. The shares have ranged from $7.50 to $12.11 over the past year.
• The company recently beat quarterly expectations, reporting $0.08 EPS versus $0.03 expected and revenue of $14.82 million versus $14.50 million estimated. An insider, major shareholder Charles E. Jobson, also bought 127,676 shares, increasing his stake by 7.76%.

Joint (NASDAQ:JYNT - Get Free Report) was downgraded by equities researchers at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Tuesday,Zacks.com reports.

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

Joint Price Performance

JYNT opened at $8.93 on Tuesday. The firm has a market cap of $127.34 million, a P/E ratio of 38.83 and a beta of 1.09. Joint has a 1-year low of $7.50 and a 1-year high of $12.11. The company has a 50 day simple moving average of $8.83 and a two-hundred day simple moving average of $8.95.

Joint (NASDAQ:JYNT - Get Free Report) last issued its quarterly earnings results 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 return on equity of 7.00% and a net margin of 5.72%.The business had revenue of $14.82 million during the quarter, compared to analyst estimates of $14.50 million. Equities analysts anticipate that Joint will post 0.51 earnings per share for the current year.

Insider Buying and Selling

In other Joint news, major shareholder Charles E. Jobson bought 127,676 shares of Joint stock in a transaction on Tuesday, May 12th. The shares were acquired at an average price of $8.57 per share, for a total transaction of $1,094,183.32. Following the completion of the purchase, the insider directly owned 1,773,479 shares in the company, valued at approximately $15,198,715.03. This trade represents a 7.76% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 30.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Joint

A number of institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its stake in Joint by 104.7% in the third quarter. BNP Paribas Financial Markets now owns 2,935 shares of the company's stock worth $28,000 after purchasing an additional 1,501 shares in the last quarter. JPMorgan Chase & Co. raised its position in Joint by 32.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,412 shares of the company's stock valued at $86,000 after purchasing an additional 1,810 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Joint by 25.9% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,244 shares of the company's stock worth $95,000 after buying an additional 1,698 shares during the period. XTX Topco Ltd bought a new position in shares of Joint during the 4th quarter worth $124,000. Finally, Wells Fargo & Company MN increased its stake in shares of Joint by 78.0% during the fourth quarter. Wells Fargo & Company MN now owns 15,476 shares of the company's stock valued at $135,000 after buying an additional 6,784 shares during the period. 76.88% of the stock is owned by hedge funds and other institutional investors.

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.

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