Zacks Investment Research Lowers Joint Corp (JYNT) to Hold
Joint Corp (NASDAQ:JYNT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to 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 analysts have also issued reports on the company. Maxim Group dropped their target price on 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. lowered Joint Corp from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 24th.
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Joint Corp (NASDAQ:JYNT) traded up 2.94% on Wednesday, reaching $2.45. The company had a trading volume of 42,662 shares. Joint Corp has a 52 week low of $1.85 and a 52 week high of $7.90. The stock’s 50-day moving average is $2.54 and its 200-day moving average is $2.74. The company’s market capitalization is $31.19 million.
Joint Corp (NASDAQ:JYNT) last announced its 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 had revenue of $5 million for the quarter, compared to analysts’ expectations of $3.40 million. Equities research 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 that occurred on Monday, August 29th. The stock was purchased at an average price of $2.66 per share, for a total transaction of $79,800.00. Following the completion of the acquisition, the chief executive officer now owns 10,000 shares of the company’s stock, valued at $26,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Hedge funds have recently made changes to their positions in the stock. Emerald Acquisition Ltd. purchased a new stake in shares of Joint Corp during the second quarter worth about $108,000. Boston Partners raised 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. Skylands Capital LLC raised 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, Sanders Morris Harris Inc. raised 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.
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.
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