Joint (NASDAQ:JYNT) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Joint (NASDAQ:JYNT) from a hold rating to a strong-buy rating in a report released on Tuesday morning,Zacks.com reports.

A number of other research firms have also weighed in on JYNT. Weiss Ratings lowered shares of Joint from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 6th. Wall Street Zen raised shares of Joint from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $18.00.

Joint Price Performance

Shares of NASDAQ JYNT opened at $8.30 on Tuesday. The stock has a market capitalization of $118.32 million, a P/E ratio of 36.09 and a beta of 1.11. The company has a 50-day moving average price of $8.68 and a 200-day moving average price of $8.82. Joint has a 1 year low of $7.50 and a 1 year high of $13.47.

Joint (NASDAQ:JYNT) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.08 earnings per share (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 firm had revenue of $14.82 million during the quarter, compared to analysts’ expectations of $14.50 million. As a group, equities research analysts anticipate that Joint will post 0.51 earnings per share for the current fiscal year.

Institutional Trading of Joint

Hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets raised its position in Joint by 104.7% in the third quarter. BNP Paribas Financial Markets now owns 2,935 shares of the company’s stock worth $28,000 after acquiring an additional 1,501 shares during the period. JPMorgan Chase & Co. raised its position in shares of Joint by 32.3% in the second 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 period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Joint by 25.9% in the second 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 period. Stoneridge Investment Partners LLC bought a new stake in shares of Joint in the third quarter valued at approximately $117,000. Finally, XTX Topco Ltd bought a new stake in shares of Joint in the fourth quarter valued at approximately $124,000. Institutional investors 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.