Joint Corp (NASDAQ:JYNT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research 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 have also issued reports about the company. Maxim Group cut their target price on Joint Corp from $8.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, July 1st. Feltl & Co. downgraded Joint Corp from a “strong-buy” rating to a “buy” rating in a report on Friday, June 24th.
Shares of Joint Corp (NASDAQ:JYNT) opened at 2.48 on Wednesday. Joint Corp has a one year low of $1.85 and a one year high of $7.90. The company’s 50 day moving average price is $2.55 and its 200 day moving average price is $2.73. The stock’s market capitalization is $31.57 million.
Joint Corp (NASDAQ:JYNT) last announced its earnings results on Thursday, August 11th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.01. The company had revenue of $5 million for the quarter, compared to analyst estimates of $3.40 million. On average, equities analysts expect that Joint Corp will post ($0.97) earnings per share for the current year.
In other news, CEO Peter D. Holt purchased 30,000 shares of the business’s stock in a transaction on Monday, August 29th. The stock was purchased at an average price of $2.66 per share, with a total value of $79,800.00. Following the acquisition, the chief executive officer now directly owns 10,000 shares in the company, valued at approximately $26,600. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.
Institutional investors have recently bought and sold shares of the stock. Boston Partners boosted its position in Joint Corp by 1.1% in the second quarter. Boston Partners now owns 108,550 shares of the company’s stock valued at $220,000 after buying an additional 1,170 shares during the period. Skylands Capital LLC boosted its position in Joint Corp by 12.1% in the second quarter. Skylands Capital LLC now owns 380,734 shares of the company’s stock valued at $773,000 after buying an additional 40,950 shares during the period. Emerald Acquisition Ltd. purchased a new position in Joint Corp during the second quarter valued at approximately $108,000. Finally, Sanders Morris Harris Inc. boosted its position in Joint Corp by 7.0% in the second quarter. Sanders Morris Harris Inc. now owns 2,063,581 shares of the company’s stock valued at $4,189,000 after buying an additional 134,753 shares during the period.
About Joint Corp
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Joint Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Joint Corp and related companies with MarketBeat.com's FREE daily email newsletter.