Joint (NASDAQ:JYNT) Upgraded to Buy at B. Riley

B. Riley upgraded shares of Joint (NASDAQ:JYNT – Get Rating) from a neutral rating to a buy rating in a report published on Friday morning, Marketbeat.com reports. They currently have $31.00 target price on the stock. B. Riley also issued estimates for Joint’s Q3 2022 earnings at $0.04 EPS, Q4 2022 earnings at $0.09 EPS and FY2022 earnings at $0.14 EPS.

JYNT has been the subject of several other research reports. Roth Capital cut their price objective on Joint from $75.00 to $40.00 in a report on Monday, May 9th. Lake Street Capital decreased their price objective on shares of Joint from $100.00 to $50.00 in a research report on Friday, May 6th. StockNews.com cut shares of Joint from a hold rating to a sell rating in a research report on Wednesday. Craig Hallum cut shares of Joint from a buy rating to a hold rating and decreased their price objective for the company from $90.00 to $30.00 in a research report on Friday, May 6th. Finally, DA Davidson cut shares of Joint from a neutral rating to an underperform rating and decreased their price objective for the company from $69.00 to $13.00 in a research report on Monday, May 9th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $33.33.

Joint Stock Up 6.7 %

Shares of NASDAQ:JYNT opened at $21.52 on Friday. Joint has a 1 year low of $13.10 and a 1 year high of $111.06. The business’s 50-day moving average is $15.76 and its 200-day moving average is $29.14. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market capitalization of $311.18 million, a price-to-earnings ratio of 143.48 and a beta of 1.33.

Joint (NASDAQ:JYNT – Get Rating) last released its earnings results on Thursday, May 5th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.05). Joint had a return on equity of 7.81% and a net margin of 2.53%. The business had revenue of $22.44 million for the quarter, compared to the consensus estimate of $22.88 million. During the same quarter in the previous year, the firm earned $0.16 earnings per share. Equities research analysts predict that Joint will post 0.16 earnings per share for the current year.

Insider Activity at Joint

In related news, major shareholder Bandera Partners Llc purchased 185,489 shares of Joint stock in a transaction that occurred on Monday, May 9th. The shares were bought at an average price of $15.93 per share, for a total transaction of $2,954,839.77. Following the completion of the transaction, the insider now directly owns 2,035,562 shares of the company’s stock, valued at $32,426,502.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have purchased 214,269 shares of company stock worth $3,378,580 over the last 90 days. 3.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Joint

Several hedge funds have recently bought and sold shares of the business. Granite Point Capital Management L.P. bought a new stake in Joint during the second quarter worth about $766,000. Fifth Third Bancorp bought a new stake in Joint during the second quarter worth about $155,000. Victory Capital Management Inc. boosted its stake in Joint by 8.7% during the second quarter. Victory Capital Management Inc. now owns 59,840 shares of the company’s stock worth $916,000 after acquiring an additional 4,809 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in Joint during the second quarter worth about $324,000. Finally, Skylands Capital LLC boosted its stake in Joint by 15.6% during the second quarter. Skylands Capital LLC now owns 412,515 shares of the company’s stock worth $6,316,000 after acquiring an additional 55,616 shares in the last quarter. Institutional investors own 86.39% of the company’s stock.

Joint Company Profile

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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.