Joint (JYNT) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research downgraded shares of Joint (NASDAQ:JYNT) from a buy rating to a hold rating in a research report sent to investors on Tuesday.

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. “

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A number of other equities research analysts also recently issued reports on JYNT. ValuEngine upgraded shares of Joint from a sell rating to a hold rating in a report on Sunday, December 31st. Maxim Group restated a buy rating and issued a $7.00 target price on shares of Joint in a report on Friday, March 9th. Finally, Lake Street Capital started coverage on shares of Joint in a report on Wednesday, March 28th. They issued a buy rating for the company. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $6.49.

Joint stock opened at $6.77 on Tuesday. Joint has a 1 year low of $3.41 and a 1 year high of $7.25. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.34 and a quick ratio of 1.34.

Joint (NASDAQ:JYNT) last released its earnings results on Thursday, March 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. Joint had a negative net margin of 13.01% and a negative return on equity of 66.74%. The firm had revenue of $6.93 million during the quarter, compared to the consensus estimate of $6.48 million. research analysts anticipate that Joint will post 0.08 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in JYNT. Deutsche Bank AG grew its stake in Joint by 3,839.1% during the fourth quarter. Deutsche Bank AG now owns 59,087 shares of the company’s stock worth $293,000 after buying an additional 57,587 shares during the period. Renaissance Technologies LLC purchased a new stake in Joint during the fourth quarter worth approximately $379,000. Russell Investments Group Ltd. grew its stake in Joint by 28.4% during the third quarter. Russell Investments Group Ltd. now owns 112,900 shares of the company’s stock worth $538,000 after buying an additional 25,000 shares during the period. Finally, Skylands Capital LLC grew its stake in Joint by 11.0% during the fourth quarter. Skylands Capital LLC now owns 612,529 shares of the company’s stock worth $3,038,000 after buying an additional 60,900 shares during the period. Institutional investors own 49.57% of the company’s stock.

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About Joint

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.

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