The Pennant Group (NASDAQ:PNTG) Price Target Raised to $38.00

The Pennant Group (NASDAQ:PNTG) had its price target increased by Wells Fargo & Company from $31.00 to $38.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other brokerages have also recently issued reports on PNTG. Zacks Research upgraded shares of The Pennant Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 20th. Jefferies Financial Group assumed coverage on The Pennant Group in a research report on Friday, October 24th. They set a “buy” rating and a $30.00 price objective on the stock. Truist Financial upgraded The Pennant Group from a “hold” rating to a “buy” rating and lifted their target price for the stock from $28.00 to $34.00 in a report on Tuesday, December 2nd. Stephens reissued an “overweight” rating and set a $40.00 target price on shares of The Pennant Group in a research report on Thursday, October 9th. Finally, William Blair began coverage on The Pennant Group in a research report on Monday, December 8th. They issued an “outperform” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $36.20.

The Pennant Group Stock Performance

NASDAQ:PNTG opened at $28.13 on Wednesday. The company has a market cap of $973.02 million, a price-to-earnings ratio of 37.51, a PEG ratio of 1.98 and a beta of 1.28. The Pennant Group has a 1 year low of $21.18 and a 1 year high of $30.46. The stock’s 50 day simple moving average is $27.78 and its two-hundred day simple moving average is $25.87. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.04 and a quick ratio of 1.04.

The Pennant Group (NASDAQ:PNTG) last posted its earnings results on Wednesday, November 5th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.01. The Pennant Group had a net margin of 3.15% and a return on equity of 9.37%. The firm had revenue of $229.04 million during the quarter, compared to analyst estimates of $221.96 million. The Pennant Group has set its FY 2025 guidance at 1.140-1.180 EPS. As a group, equities analysts anticipate that The Pennant Group will post 0.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On The Pennant Group

Large investors have recently bought and sold shares of the business. Ophir Asset Management Pty Ltd increased its stake in The Pennant Group by 403.9% in the second quarter. Ophir Asset Management Pty Ltd now owns 1,048,759 shares of the company’s stock worth $31,305,000 after purchasing an additional 840,642 shares during the period. WCM Investment Management LLC purchased a new position in The Pennant Group in the 3rd quarter worth about $16,100,000. Ameriprise Financial Inc. bought a new stake in The Pennant Group during the 2nd quarter valued at about $14,356,000. Algert Global LLC boosted its position in The Pennant Group by 392.5% in the 3rd quarter. Algert Global LLC now owns 421,702 shares of the company’s stock valued at $10,635,000 after buying an additional 336,072 shares during the period. Finally, Van Berkom & Associates Inc. boosted its position in The Pennant Group by 10.1% in the 3rd quarter. Van Berkom & Associates Inc. now owns 3,112,812 shares of the company’s stock valued at $78,505,000 after buying an additional 284,856 shares during the period. Hedge funds and other institutional investors own 85.88% of the company’s stock.

About The Pennant Group

The Pennant Group (NASDAQ: PNTG) is a publicly traded holding company that provides specialized services to the asset management industry. Through its operating subsidiaries, the company delivers outsourced fund administration, securities lending, prime brokerage, and capital markets solutions designed to support hedge funds, private equity firms, mutual funds and other institutional investors. By leveraging a combination of technology platforms and industry expertise, The Pennant Group helps clients streamline middle- and back-office processes, enhance operational efficiency and manage regulatory requirements.

Key service offerings include fund accounting and reporting, trade settlement and reconciliation, risk monitoring, securities lending programs and execution support across a range of asset classes.