Joint Corp (NASDAQ:JYNT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a 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. “

Other equities research analysts also recently issued reports about the stock. Roth Capital assumed coverage on shares of Joint Corp in a research report on Thursday, July 27th. They issued a “buy” rating and a $5.70 price target for the company. Maxim Group reiterated a “buy” rating and issued a $7.00 price target on shares of Joint Corp in a research report on Friday, August 11th. Finally, Craig Hallum assumed coverage on shares of Joint Corp in a research report on Wednesday, June 14th. They issued a “buy” rating and a $5.75 price target for the company. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Joint Corp presently has a consensus rating of “Buy” and an average price target of $5.86.

Joint Corp (NASDAQ JYNT) traded down 0.85% during trading on Wednesday, hitting $4.65. The company had a trading volume of 3,624 shares. The stock’s market capitalization is $61.28 million. The stock has a 50-day moving average of $4.58 and a 200-day moving average of $4.01. Joint Corp has a one year low of $1.96 and a one year high of $5.09.

Joint Corp (NASDAQ:JYNT) last released its quarterly earnings results on Thursday, August 10th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. Joint Corp had a negative net margin of 16.81% and a negative return on equity of 80.57%. The company had revenue of $6.02 million during the quarter, compared to the consensus estimate of $5.76 million. On average, equities analysts anticipate that Joint Corp will post ($0.33) EPS for the current year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in JYNT. Russell Investments Group Ltd. raised its position in shares of Joint Corp by 3.8% in the first quarter. Russell Investments Group Ltd. now owns 70,400 shares of the company’s stock valued at $296,000 after buying an additional 2,600 shares in the last quarter. Sanders Morris Harris LLC raised its position in shares of Joint Corp by 0.5% in the second quarter. Sanders Morris Harris LLC now owns 2,619,807 shares of the company’s stock valued at $9,955,000 after buying an additional 12,000 shares in the last quarter. Boston Partners raised its position in shares of Joint Corp by 13.1% in the second quarter. Boston Partners now owns 150,900 shares of the company’s stock valued at $573,000 after buying an additional 17,500 shares in the last quarter. White Pine Capital LLC raised its position in shares of Joint Corp by 44.2% in the second quarter. White Pine Capital LLC now owns 55,500 shares of the company’s stock valued at $211,000 after buying an additional 17,000 shares in the last quarter. Finally, Captrust Financial Advisors acquired a new stake in shares of Joint Corp in the second quarter valued at approximately $791,000. Institutional investors own 47.03% of the company’s stock.

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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