B. Riley Raises Joint (NASDAQ:JYNT) Price Target to $20.00

Joint (NASDAQ:JYNT) had its target price boosted by B. Riley from $12.00 to $20.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a buy rating on the stock. B. Riley also issued estimates for Joint’s Q2 2024 earnings at ($0.04) EPS, Q3 2024 earnings at $0.00 EPS, Q4 2024 earnings at $0.04 EPS, FY2024 earnings at $0.06 EPS and FY2025 earnings at $0.58 EPS.

Several other research analysts have also recently issued reports on the stock. TheStreet cut shares of Joint from a c- rating to a d rating in a report on Thursday, March 7th. Roth Mkm reaffirmed a buy rating and set a $16.00 price target (up from $13.00) on shares of Joint in a research note on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $22.00.

Joint Price Performance

Shares of JYNT stock opened at $15.93 on Monday. Joint has a 12-month low of $7.31 and a 12-month high of $16.39. The firm has a market capitalization of $238.54 million, a price-to-earnings ratio of -21.24 and a beta of 1.58. The business has a 50 day simple moving average of $12.42 and a 200 day simple moving average of $10.31.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of JYNT. Russell Investments Group Ltd. lifted its position in shares of Joint by 8.9% in the 1st quarter. Russell Investments Group Ltd. now owns 90,147 shares of the company’s stock valued at $1,177,000 after acquiring an additional 7,375 shares in the last quarter. JCP Investment Management LLC grew its holdings in shares of Joint by 15.3% during the first quarter. JCP Investment Management LLC now owns 112,800 shares of the company’s stock valued at $1,473,000 after buying an additional 15,000 shares in the last quarter. Bridge City Capital LLC grew its holdings in shares of Joint by 75.2% during the first quarter. Bridge City Capital LLC now owns 22,115 shares of the company’s stock valued at $289,000 after buying an additional 9,492 shares in the last quarter. Avondale Wealth Management increased its holdings in shares of Joint by 192.3% in the 1st quarter. Avondale Wealth Management now owns 19,000 shares of the company’s stock valued at $248,000 after purchasing an additional 12,500 shares during the period. Finally, Sierra Summit Advisors LLC purchased a new stake in shares of Joint in the fourth quarter worth approximately $652,000. Institutional investors own 76.88% of the company’s stock.

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.