The Pennant Group (NASDAQ:PNTG) Hits New 1-Year High – What’s Next?

The Pennant Group, Inc. (NASDAQ:PNTG) shares reached a new 52-week high during trading on Wednesday. The company traded as high as $43.60 and last traded at $43.6060, with a volume of 64,956 shares traded. The stock had previously closed at $41.19.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PNTG. Truist Financial increased their price target on The Pennant Group from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Weiss Ratings raised The Pennant Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 19th. Wells Fargo & Company lifted their price objective on The Pennant Group from $45.00 to $46.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. Royal Bank Of Canada upped their price objective on The Pennant Group from $44.00 to $48.00 and gave the company an “outperform” rating in a report on Friday. Finally, Oppenheimer increased their target price on The Pennant Group from $47.00 to $50.00 and gave the company an “outperform” rating in a research note on Thursday. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, The Pennant Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.00.

The Pennant Group Price Performance

The company has a debt-to-equity ratio of 0.48, a current ratio of 1.20 and a quick ratio of 1.20. The stock has a market cap of $1.27 billion, a P/E ratio of 36.73, a P/E/G ratio of 2.87 and a beta of 1.33. The company’s 50 day simple moving average is $40.19 and its 200 day simple moving average is $35.66.

The Pennant Group (NASDAQ:PNTG) last posted its earnings results on Wednesday, November 4th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). The Pennant Group had a return on equity of 10.43% and a net margin of 3.05%. The firm had revenue of $302.25 million during the quarter, compared to analyst estimates of $299.34 million. As a group, equities analysts forecast that The Pennant Group, Inc. will post 1.18 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bridge City Capital LLC boosted its holdings in shares of The Pennant Group by 18.6% in the third quarter. Bridge City Capital LLC now owns 70,054 shares of the company’s stock valued at $2,732,000 after buying an additional 10,971 shares during the period. Oppenheimer & Co. Inc. bought a new stake in shares of The Pennant Group during the third quarter worth $1,279,000. Sigma Planning Corp acquired a new stake in shares of The Pennant Group during the third quarter worth $1,573,000. Sterling Capital Management LLC raised its holdings in shares of The Pennant Group by 846.7% during the third quarter. Sterling Capital Management LLC now owns 1,136 shares of the company’s stock worth $44,000 after acquiring an additional 1,016 shares during the period. Finally, Kings Path Partners LLC bought a new stake in The Pennant Group in the 3rd quarter valued at $684,000. 85.88% of the stock is currently owned by institutional investors.

The Pennant Group Company Profile

The Pennant Group, Inc is a healthcare services company that operates home health, hospice and senior living businesses in the United States. Through its affiliated agencies and communities, the company provides skilled nursing, physical, occupational and speech therapy, personal care, hospice and palliative services, assisted living, and other support for older adults and individuals recovering from illness or injury.

Pennant’s home health and hospice operations serve patients in their homes and other residential settings, while its senior living segment operates communities that provide assisted living and related services.