Joint (NASDAQ:JYNT) Upgraded by StockNews.com to “Buy”

Joint (NASDAQ:JYNT) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.

Other analysts have also issued research reports about the company. B. Riley increased their price objective on Joint from $12.00 to $20.00 and gave the company a “buy” rating in a report on Monday. Roth Mkm reiterated a “buy” rating and set a $16.00 price objective (up previously from $13.00) on shares of Joint in a report on Friday. Finally, TheStreet lowered Joint from a “c-” rating to a “d” rating in a report on Thursday, March 7th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.00.

Joint Stock Down 2.0 %

Shares of Joint stock traded down $0.33 on Monday, reaching $15.79. The stock had a trading volume of 143,009 shares, compared to its average volume of 90,058. Joint has a 1 year low of $7.31 and a 1 year high of $16.35. The company has a 50 day moving average price of $12.17 and a 200 day moving average price of $10.21. The stock has a market capitalization of $235.90 million, a P/E ratio of -21.05 and a beta of 1.58.

Joint (NASDAQ:JYNT) last released its quarterly earnings results on Thursday, March 7th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.04. Joint had a negative net margin of 9.24% and a positive return on equity of 3.94%. The business had revenue of $30.61 million for the quarter, compared to analyst estimates of $29.63 million. On average, analysts forecast that Joint will post 0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Joint

Hedge funds have recently made changes to their positions in the company. Hudson Bay Capital Management LP acquired a new position in shares of Joint in the 3rd quarter valued at $867,000. WINTON GROUP Ltd acquired a new position in shares of Joint in the 3rd quarter valued at $179,000. First Foundation Advisors acquired a new position in shares of Joint in the 3rd quarter valued at $1,336,000. Trexquant Investment LP increased its position in shares of Joint by 15.2% in the 3rd quarter. Trexquant Investment LP now owns 76,589 shares of the company’s stock valued at $689,000 after acquiring an additional 10,122 shares during the period. Finally, Skylands Capital LLC increased its position in shares of Joint by 20.3% in the 4th quarter. Skylands Capital LLC now owns 603,640 shares of the company’s stock valued at $5,801,000 after acquiring an additional 101,850 shares during the period. 76.88% of the stock is owned by institutional investors and hedge funds.

Joint Company Profile

The Joint Corp. operates and franchises chiropractic clinics in the United States. The company operates in two segments, Corporate Clinics and Franchise Operations. The Joint Corp. was incorporated in 2010 and is headquartered in Scottsdale, Arizona.