B. Riley raises Joint (NASDAQ:JYNT) price target to $20.00

Joint (NASDAQ:JYNT – Get a Free Report) The price target was raised by equity researchers at B. Riley from $12.00 to $20.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a buy rating on the stock. B. Riley’s price target would indicate a potential upside of 24.77% from the stock’s previous closing price.

Other analysts have also issued reports on the stock. TheStreet downgraded shares of Joint from a “c-” rating to a “d” rating in a research note on Thursday, March 7. Roth Mkm reaffirmed a buy rating and issued a $16.00 price target (previously from $13.00) for Joint shares in a research report on Friday. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Joint currently has a consensus rating of “Hold” and an average price target of $22.00.

Check out our latest Joint stock report

Joint price performance

Shares of NASDAQ:JYNT fell $0.09 during trading on Monday, hitting $16.03. 68,193 shares of the company were redeemed, compared to the average volume of 89,138. The company has a market cap of $239.49 million, a price-to-earnings ratio of -20.80 and a beta of 1.58. The company’s fifty-day simple moving average is $12.05 and its 200-day simple moving average is $10.16. Joint has a 12-month low of $7.31 and a 12-month high of $16.35.

Joint (NASDAQ:JYNT – Get Free Report) last released its quarterly earnings data on Thursday, March 7. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.04. Joint had a positive return on equity of 3.94% and a negative net margin of 9.24%. The company had revenue of $30.61 million for the quarter, compared to the consensus estimate of $29.63 million. On average, sell-side analysts expect Joint to post earnings per share of 0.13 for the current fiscal year.

Institutional inflow and outflow

A number of institutional investors and hedge funds have recently changed their holdings of JYNT. Bridge City Capital LLC grew its stake in Joint by 75.2% in the first quarter. Bridge City Capital LLC now owns 22,115 shares of the company’s stock worth $289,000 after purchasing an additional 9,492 shares in the last quarter. Avondale Wealth Management increased its stake in Joint by 192.3% in the first quarter. Avondale Wealth Management now owns 19,000 shares of the company’s stock worth $248,000 after acquiring an additional 12,500 shares in the last quarter. Sierra Summit Advisors LLC purchased a new stake in shares of Joint in the fourth quarter worth approximately $652,000. Corsair Capital Management LP acquired a new position in shares of Joint during the fourth quarter worth approximately $248,000. Finally, Bard Associates Inc. its position in Joint shares increased by 4.3% in the 4th quarter. Bard Associates Inc. now owns 79,549 shares of the company, valued at $764,000, after purchasing an additional 3,250 shares in the last quarter. Hedge funds and other institutional investors own 76.88% of the company’s shares.

About Joint

(Get a free report)

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

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