Joint (NASDAQ:JYNT) Upgraded to “Strong-Buy” at Zacks Research

Joint (NASDAQ:JYNT) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other research firms have also issued reports on JYNT. Wall Street Zen upgraded shares of Joint from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings lowered shares of Joint from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $18.00.

Joint Price Performance

NASDAQ JYNT opened at $8.30 on Tuesday. Joint has a 12 month low of $7.50 and a 12 month high of $13.47. The firm has a market capitalization of $118.32 million, a PE ratio of 36.09 and a beta of 1.11. The company’s 50 day simple moving average is $8.68 and its 200 day simple moving average is $8.82.

Joint (NASDAQ:JYNT) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.05. Joint had a net margin of 5.72% and a return on equity of 7.00%. The business had revenue of $14.82 million for the quarter, compared to analyst estimates of $14.50 million. Sell-side analysts anticipate that Joint will post 0.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Joint

Institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets lifted its stake in shares of Joint by 104.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,935 shares of the company’s stock valued at $28,000 after purchasing an additional 1,501 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Joint by 32.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,412 shares of the company’s stock valued at $86,000 after purchasing an additional 1,810 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Joint by 25.9% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,244 shares of the company’s stock valued at $95,000 after purchasing an additional 1,698 shares during the last quarter. Stoneridge Investment Partners LLC acquired a new stake in shares of Joint in the 3rd quarter valued at $117,000. Finally, XTX Topco Ltd acquired a new stake in shares of Joint in the 4th quarter valued at $124,000. Institutional investors and hedge funds own 76.88% of the company’s stock.

About Joint

The Joint Chiropractic, Inc, doing business as Joint (NASDAQ: JYNT), is a franchisor and operator of outpatient chiropractic clinics in the United States. Under its flagship The Joint Chiropractic brand, the company offers membership-based, cash-focused spinal adjustment services designed to promote accessible, routine care for neck and back discomfort. By removing insurance requirements and offering walk-in visits, Joint aims to streamline the patient experience and reduce cost barriers to ongoing chiropractic treatment.

Joint’s growth strategy centers on partnering with franchisees to expand its network of clinics.