Zacks: Analysts Anticipate The Joint Corp. (NASDAQ:JYNT) Will Post Quarterly Sales of $21.61 Million

Wall Street brokerages expect The Joint Corp. (NASDAQ:JYNT) to report $21.61 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Joint’s earnings. The lowest sales estimate is $21.42 million and the highest is $21.80 million. Joint posted sales of $17.04 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 26.8%. The business is expected to report its next earnings results on Thursday, March 3rd.

On average, analysts expect that Joint will report full year sales of $80.39 million for the current fiscal year, with estimates ranging from $80.18 million to $80.60 million. For the next year, analysts anticipate that the firm will post sales of $102.26 million, with estimates ranging from $100.52 million to $104.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Joint.

Joint (NASDAQ:JYNT) last issued its quarterly earnings data on Thursday, November 4th. The company reported $0.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.09. Joint had a net margin of 23.18% and a return on equity of 34.65%. During the same period last year, the firm posted $0.11 earnings per share.

JYNT has been the topic of a number of research analyst reports. TheStreet downgraded Joint from a “b” rating to a “c+” rating in a report on Monday, October 4th. DA Davidson upped their price target on Joint from $65.00 to $128.00 and gave the stock a “buy” rating in a research note on Monday, August 9th. Maxim Group reiterated a “hold” rating on shares of Joint in a report on Friday, November 5th. Lake Street Capital boosted their target price on shares of Joint from $70.00 to $150.00 and gave the company a “buy” rating in a report on Friday, August 6th. Finally, Roth Capital lifted their price target on shares of Joint from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, November 8th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $108.00.

JYNT stock traded down $1.18 during trading on Thursday, reaching $83.49. The company had a trading volume of 97,610 shares, compared to its average volume of 213,464. Joint has a 52 week low of $24.60 and a 52 week high of $111.06. The business has a 50 day moving average of $92.08 and a 200 day moving average of $85.39. The company has a market cap of $1.20 billion, a P/E ratio of 70.16 and a beta of 1.18.

In other Joint news, CFO Jake Singleton sold 2,614 shares of the stock in a transaction dated Wednesday, September 1st. The stock was sold at an average price of $103.12, for a total value of $269,555.68. Following the transaction, the chief financial officer now owns 7,734 shares of the company’s stock, valued at $797,530.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ronald V. Davella sold 20,000 shares of the company’s stock in a transaction on Monday, September 13th. The stock was sold at an average price of $101.18, for a total value of $2,023,600.00. The disclosure for this sale can be found here. 4.60% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in JYNT. BlackRock Inc. increased its holdings in Joint by 100.9% in the 2nd quarter. BlackRock Inc. now owns 2,014,162 shares of the company’s stock valued at $169,028,000 after acquiring an additional 1,011,690 shares during the last quarter. Invesco Ltd. grew its position in shares of Joint by 472.2% during the second quarter. Invesco Ltd. now owns 298,943 shares of the company’s stock valued at $25,087,000 after purchasing an additional 246,694 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Joint by 36.9% during the second quarter. Vanguard Group Inc. now owns 908,786 shares of the company’s stock valued at $76,265,000 after purchasing an additional 245,124 shares in the last quarter. State Street Corp increased its holdings in shares of Joint by 84.0% in the second quarter. State Street Corp now owns 430,963 shares of the company’s stock worth $36,166,000 after purchasing an additional 196,735 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Joint by 54.9% in the second quarter. Dimensional Fund Advisors LP now owns 258,093 shares of the company’s stock worth $21,659,000 after buying an additional 91,447 shares in the last quarter. 88.98% of the stock is owned by institutional investors and hedge funds.

Joint Company Profile

The Joint Corp. (United States) engages in the development, ownership, operation, support and management of chiropractic clinics. It operates through two segments: Corporate Clinics and Franchise Operations. The Corporate Clinics segment comprises of the operating activities of the company owned or managed clinics.

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