Joint Corp (JYNT) Rating Lowered to Hold at Zacks Investment Research
Joint Corp (NASDAQ:JYNT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
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. “
Several other research firms also recently commented on JYNT. Maxim Group dropped their price objective on shares of Joint Corp from $8.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, July 1st. Feltl & Co. downgraded shares of Joint Corp from a “strong-buy” rating to a “buy” rating in a report on Friday, June 24th.
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Shares of Joint Corp (NASDAQ:JYNT) traded up 2.94% during trading on Wednesday, hitting $2.45. 42,662 shares of the stock were exchanged. Joint Corp has a 52 week low of $1.85 and a 52 week high of $7.90. The firm’s market capitalization is $31.19 million. The firm has a 50 day moving average price of $2.54 and a 200 day moving average price of $2.74.
Joint Corp (NASDAQ:JYNT) last released its quarterly earnings data on Thursday, August 11th. The company reported ($0.26) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.27) by $0.01. The business had revenue of $5 million for the quarter, compared to analysts’ expectations of $3.40 million. Analysts forecast that Joint Corp will post ($0.97) EPS for the current fiscal year.
In other news, CEO Peter D. Holt purchased 30,000 shares of the stock in a transaction dated Monday, August 29th. The shares were purchased at an average cost of $2.66 per share, with a total value of $79,800.00. Following the completion of the acquisition, the chief executive officer now owns 10,000 shares in the company, valued at approximately $26,600. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Large investors have recently made changes to their positions in the company. Sanders Morris Harris Inc. increased its stake in shares of 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 last quarter. Emerald Acquisition Ltd. purchased a new stake in shares of Joint Corp during the second quarter worth about $108,000. Skylands Capital LLC increased its stake in shares of 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 last quarter. Finally, Boston Partners increased its stake in shares of Joint Corp by 1.1% in the second quarter. Boston Partners now owns 108,550 shares of the company’s stock worth $220,000 after buying an additional 1,170 shares during the last quarter.
About Joint Corp
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.
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