B. Riley Raises Joint (NASDAQ:JYNT) Price Target to $20.00

Joint (NASDAQ:JYNT) had its target price raised by equities researchers at B. Riley from $12.00 to $20.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley’s target price would indicate a potential upside of 24.77% from the stock’s previous close.

Other analysts have also issued reports about the stock. TheStreet lowered shares of Joint from a “c-” rating to a “d” rating in a research note on Thursday, March 7th. Roth Mkm reaffirmed a “buy” rating and issued a $16.00 price target (up previously from $13.00) on shares of Joint in a research report on Friday. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Joint presently has a consensus rating of “Hold” and an average price target of $22.00.

Joint Price Performance

Shares of NASDAQ:JYNT traded down $0.09 during trading on Monday, reaching $16.03. 68,193 shares of the company were exchanged, compared to its average volume of 89,138. The firm has a market capitalization of $239.49 million, a PE ratio of -20.80 and a beta of 1.58. The business’s fifty day simple moving average is $12.05 and its 200-day simple moving average is $10.16. Joint has a 12-month low of $7.31 and a 12-month high of $16.35.

Joint (NASDAQ:JYNT) last released its quarterly earnings data on Thursday, March 7th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.03 by $0.04. Joint had a positive return on equity of 3.94% and a negative net margin of 9.24%. The company had revenue of $30.61 million for the quarter, compared to the consensus estimate of $29.63 million. On average, sell-side analysts anticipate that Joint will post 0.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of JYNT. Bridge City Capital LLC grew its stake in Joint by 75.2% during the 1st quarter. Bridge City Capital LLC now owns 22,115 shares of the company’s stock worth $289,000 after buying an additional 9,492 shares during the last quarter. Avondale Wealth Management boosted its holdings in Joint by 192.3% in the first quarter. Avondale Wealth Management now owns 19,000 shares of the company’s stock worth $248,000 after acquiring an additional 12,500 shares in the last quarter. Sierra Summit Advisors LLC purchased a new stake in shares of Joint during the fourth quarter worth about $652,000. Corsair Capital Management L.P. acquired a new position in shares of Joint during the fourth quarter valued at about $248,000. Finally, Bard Associates Inc. raised its position in shares of Joint by 4.3% in the 4th quarter. Bard Associates Inc. now owns 79,549 shares of the company’s stock valued at $764,000 after purchasing an additional 3,250 shares during the last quarter. Hedge funds and other institutional investors own 76.88% of the company’s stock.

About Joint

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.