Joint (NASDAQ:JYNT – Get Rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report released on Thursday.
A number of other analysts have also recently commented on the stock. B. Riley reduced their target price on shares of Joint from $125.00 to $88.00 in a report on Friday, February 25th. DA Davidson reduced their price objective on shares of Joint from $128.00 to $69.00 and set a “buy” rating for the company in a research note on Friday, February 25th. Zacks Investment Research cut shares of Joint from a “buy” rating to a “sell” rating in a research note on Tuesday, March 1st. Lake Street Capital dropped their target price on shares of Joint from $150.00 to $100.00 in a research report on Friday, February 25th. Finally, Craig Hallum dropped their target price on shares of Joint from $117.00 to $90.00 in a research report on Monday, January 24th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $85.33.
Shares of Joint stock opened at $35.10 on Thursday. Joint has a twelve month low of $29.84 and a twelve month high of $111.06. The company has a market cap of $505.90 million, a price-to-earnings ratio of 73.13 and a beta of 1.27. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.07. The company’s 50 day moving average is $40.31 and its 200 day moving average is $62.45.
Joint (NASDAQ:JYNT – Get Rating) last announced its earnings results on Thursday, February 24th. The company reported $0.01 EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.07). Joint had a net margin of 8.82% and a return on equity of 26.30%. The business had revenue of $22.43 million for the quarter, compared to analysts’ expectations of $22.21 million. During the same period in the prior year, the company posted $0.12 earnings per share. Sell-side analysts expect that Joint will post 0.33 EPS for the current fiscal year.
In related news, CEO Peter D. Holt purchased 1,500 shares of Joint stock in a transaction that occurred on Wednesday, March 16th. The shares were bought at an average price of $33.24 per share, with a total value of $49,860.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Jake Singleton purchased 1,515 shares of Joint stock in a transaction that occurred on Wednesday, March 16th. The stock was bought at an average cost of $33.00 per share, for a total transaction of $49,995.00. The disclosure for this purchase can be found here. 4.60% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of the stock. Walleye Capital LLC purchased a new position in Joint in the 4th quarter worth about $343,000. Barclays PLC increased its position in Joint by 20.9% during the 4th quarter. Barclays PLC now owns 18,108 shares of the company’s stock valued at $1,190,000 after purchasing an additional 3,126 shares during the period. BlackRock Inc. increased its position in Joint by 3.0% during the 4th quarter. BlackRock Inc. now owns 2,194,331 shares of the company’s stock valued at $144,146,000 after purchasing an additional 64,598 shares during the period. Goldman Sachs Group Inc. increased its position in Joint by 10.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 202,551 shares of the company’s stock valued at $13,306,000 after purchasing an additional 18,427 shares during the period. Finally, Virtu Financial LLC purchased a new position in Joint during the 4th quarter valued at about $277,000. 86.71% of the stock is currently owned by institutional investors.
Joint Company Profile
The Joint Corp. develops, owns, operates, supports, and manages chiropractic clinics. The company operates in two segments, Corporate Clinics and Franchise Operations. It operates through direct ownership, management arrangements, franchising, and regional developers. As of March 1, 2022, the company operated approximately 700 locations in the United States.
