Zacks Investment Research cut shares of The Joint Corp. (NASDAQ:JYNT) from a buy rating to a hold rating in a research note issued to investors on Wednesday.

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. “

JYNT has been the subject of a number of other research reports. Craig Hallum assumed coverage on The Joint Corp. in a research report on Wednesday, June 14th. They issued a buy rating and a $5.75 price target for the company. Roth Capital assumed coverage on The Joint Corp. in a research report on Thursday, July 27th. They issued a buy rating and a $5.70 price target for the company. Finally, Maxim Group restated a buy rating and issued a $7.00 price target on shares of The Joint Corp. in a research report on Friday, August 11th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $5.86.

Shares of The Joint Corp. (NASDAQ:JYNT) remained flat at $4.65 during midday trading on Wednesday. The company’s stock had a trading volume of 71 shares. The stock’s 50 day moving average is $4.58 and its 200 day moving average is $4.01. The stock’s market cap is $61.28 million. The Joint Corp. has a one year low of $1.96 and a one year high of $5.09.

The Joint Corp. (NASDAQ:JYNT) last announced its quarterly earnings results on Thursday, August 10th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. The Joint Corp. had a negative return on equity of 103.25% and a negative net margin of 48.08%. The business had revenue of $6.02 million during the quarter, compared to analysts’ expectations of $5.76 million. On average, equities research analysts anticipate that The Joint Corp. will post ($0.33) earnings per share for the current year.

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Several hedge funds have recently made changes to their positions in JYNT. White Pine Capital LLC increased its position in The Joint Corp. by 44.2% during the 2nd quarter. White Pine Capital LLC now owns 55,500 shares of the company’s stock worth $211,000 after purchasing an additional 17,000 shares in the last quarter. Russell Investments Group Ltd. increased its position in The Joint Corp. by 3.8% during the 1st quarter. Russell Investments Group Ltd. now owns 70,400 shares of the company’s stock worth $296,000 after purchasing an additional 2,600 shares in the last quarter. Boston Partners increased its position in The Joint Corp. by 13.1% during the 2nd quarter. Boston Partners now owns 150,900 shares of the company’s stock worth $573,000 after purchasing an additional 17,500 shares in the last quarter. Captrust Financial Advisors purchased a new stake in The Joint Corp. during the 2nd quarter worth about $791,000. Finally, Sanders Morris Harris LLC increased its position in The Joint Corp. by 0.5% during the 2nd quarter. Sanders Morris Harris LLC now owns 2,619,807 shares of the company’s stock worth $9,955,000 after purchasing an additional 12,000 shares in the last quarter. Institutional investors and hedge funds own 47.03% of the company’s stock.

The Joint Corp. Company Profile

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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