Joint (NASDAQ:JYNT - Get Free Report) declared that its board has initiated a share repurchase plan on Thursday, June 5th, RTT News reports. The company plans to repurchase $5.00 million in shares. This repurchase authorization allows the company to purchase up to 2.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on JYNT shares. Lake Street Capital lowered their price objective on shares of Joint from $20.00 to $16.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Wall Street Zen cut Joint from a "buy" rating to a "hold" rating in a report on Monday, March 17th.
Check Out Our Latest Research Report on JYNT
Joint Stock Up 10.8%
Shares of JYNT traded up $1.20 during midday trading on Thursday, hitting $12.31. The company's stock had a trading volume of 182,427 shares, compared to its average volume of 53,798. The company's fifty day simple moving average is $10.35 and its two-hundred day simple moving average is $10.90. The stock has a market capitalization of $188.38 million, a price-to-earnings ratio of -10.80 and a beta of 1.54. Joint has a one year low of $9.58 and a one year high of $15.73.
Joint (NASDAQ:JYNT - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The firm had revenue of $13.08 million during the quarter, compared to the consensus estimate of $13.02 million. Joint had a negative net margin of 13.95% and a positive return on equity of 8.24%. On average, research analysts predict that Joint will post 0.11 earnings per share for the current year.
Joint Company Profile
(
Get Free Report)
The Joint Corp. operates and franchises chiropractic clinics in the United States. The company operates in two segments, Corporate Clinics and Franchise Operations. The Joint Corp. was incorporated in 2010 and is headquartered in Scottsdale, Arizona.
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