Joint (NASDAQ:JYNT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Saturday. The firm presently has a $7.75 price objective on the stock. Zacks Investment Research‘s price target points to a potential upside of 11.43% from the stock’s previous close.
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. “
A number of other equities research analysts also recently weighed in on the company. Lake Street Capital started coverage on Joint in a report on Wednesday, March 28th. They issued a “buy” rating on the stock. Maxim Group reaffirmed a “buy” rating and issued a $7.00 target price on shares of Joint in a report on Friday, March 9th. Finally, ValuEngine raised Joint from a “sell” rating to a “hold” rating in a report on Sunday, December 31st. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Joint has a consensus rating of “Buy” and an average target price of $7.05.
Joint (NASDAQ:JYNT) last issued its quarterly earnings results on Thursday, March 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.01. The business had revenue of $6.93 million for the quarter, compared to the consensus estimate of $6.48 million. Joint had a negative return on equity of 66.74% and a negative net margin of 13.01%. research analysts forecast that Joint will post 0.08 earnings per share for the current fiscal year.
Several hedge funds have recently modified their holdings of the business. Deutsche Bank AG boosted its holdings in shares of Joint by 3,839.1% in the 4th quarter. Deutsche Bank AG now owns 59,087 shares of the company’s stock valued at $293,000 after purchasing an additional 57,587 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Joint in the 4th quarter valued at $379,000. Skylands Capital LLC boosted its holdings in shares of Joint by 11.0% in the 4th quarter. Skylands Capital LLC now owns 612,529 shares of the company’s stock valued at $3,038,000 after purchasing an additional 60,900 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Joint by 28.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 112,900 shares of the company’s stock valued at $538,000 after purchasing an additional 25,000 shares in the last quarter. 49.57% of the stock is currently owned by hedge funds and other institutional investors.
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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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