B.Riley FBR Keeps a Buy Rating on Joint Corp (JYNT)


B.Riley FBR analyst Jeff Van Sinderen reiterated a Buy rating on Joint Corp (JYNT) on August 9 and set a price target of $23. The company’s shares closed on Friday at $18.25.

Van Sinderen commented:

“JYNT reported 2Q results AMC on 8/8 with sales/GM/AEBITDA that were in line with expectations. The company continued to post impressive growth with a +25% comp that cleanly beat our estimate. Revenue and AEBITDA increased 27% and 46%, respectively. Net income was positive for the third consecutive Q. Importantly, JYNT continued its strong growth trend that should support higher GM and leverage of operating expenses. Expenses related to the company’s national convention increased SG&A, however, the company leveraged SG&A expense significantly. The company sold 45 franchise licenses vs. 18 sold in 2Q18 with 75 sold in 1H vs. 34 for 1H18.”

According to TipRanks.com, Sinderen has currently no stars on a ranking scale of 0-5 stars, with an average return of -3.9% and a 42.1% success rate. Sinderen covers the Consumer Goods sector, focusing on stocks such as Universal Electronics, Celsius Holdings Inc, and Chromadex Corp.

Joint Corp has an analyst consensus of Strong Buy, with a price target consensus of $24.40, representing a 33.7% upside. In a report issued on August 9, Lake Street also maintained a Buy rating on the stock with a $30 price target.

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Based on Joint Corp’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $462.3K. In comparison, last year the company had a GAAP net loss of $42.78K.

Based on the recent corporate insider activity of 15 insiders, corporate insider sentiment is neutral on the stock.

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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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