Wall Street Zen Upgrades Joint (NASDAQ:JYNT) to Strong-Buy

Joint (NASDAQ:JYNT) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday.

Several other research firms have also issued reports on JYNT. Zacks Research lowered shares of Joint from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. Weiss Ratings raised shares of Joint from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, June 12th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold”.

Joint Stock Performance

NASDAQ:JYNT opened at $8.33 on Friday. The stock has a 50-day simple moving average of $8.76 and a two-hundred day simple moving average of $8.87. Joint has a 52-week low of $7.50 and a 52-week high of $11.26. The firm has a market capitalization of $118.79 million, a PE ratio of 30.85 and a beta of 1.10.

Joint (NASDAQ:JYNT) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.05 EPS for the quarter, hitting the consensus estimate of $0.05. Joint had a return on equity of 12.02% and a net margin of 6.49%.The firm had revenue of $15.18 million for the quarter, compared to the consensus estimate of $14.57 million. Equities analysts forecast that Joint will post 0.51 earnings per share for the current fiscal year.

Insider Transactions at Joint

In other Joint news, major shareholder Charles E. Jobson purchased 127,676 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were acquired at an average cost of $8.57 per share, with a total value of $1,094,183.32. Following the completion of the acquisition, the insider directly owned 1,773,479 shares in the company, valued at $15,198,715.03. The trade was a 7.76% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 30.20% of the company’s stock.

Hedge Funds Weigh In On Joint

Several large investors have recently made changes to their positions in JYNT. Geode Capital Management LLC grew its position in shares of Joint by 17.6% during the second quarter. Geode Capital Management LLC now owns 345,330 shares of the company’s stock worth $3,986,000 after purchasing an additional 51,704 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Joint by 32.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,412 shares of the company’s stock worth $86,000 after purchasing an additional 1,810 shares in the last quarter. Rhumbline Advisers lifted its holdings in Joint by 25.9% in the 2nd quarter. Rhumbline Advisers now owns 20,934 shares of the company’s stock worth $242,000 after purchasing an additional 4,307 shares in the last quarter. American Century Companies Inc. boosted its stake in Joint by 13.9% in the 2nd quarter. American Century Companies Inc. now owns 27,572 shares of the company’s stock worth $318,000 after purchasing an additional 3,366 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Joint by 25.9% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,244 shares of the company’s stock worth $95,000 after purchasing an additional 1,698 shares during the period. 76.88% of the stock is currently owned by hedge funds and other institutional investors.

Joint Company Profile

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.