The Pennant Group (NASDAQ:PNTG) Stock Price Target Raised at Oppenheimer

The Pennant Group (NASDAQ:PNTG) had its price objective hoisted by Oppenheimer from $47.00 to $50.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other research analysts have also recently issued reports on PNTG. Weiss Ratings raised shares of The Pennant Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 19th. Wells Fargo & Company increased their price objective on The Pennant Group from $45.00 to $46.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Truist Financial raised their price objective on shares of The Pennant Group from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Finally, Royal Bank Of Canada lifted their price target on shares of The Pennant Group from $42.00 to $44.00 and gave the company an “outperform” rating in a research report on Thursday, August 20th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $47.00.

The Pennant Group Trading Down 9.2%

NASDAQ PNTG opened at $40.00 on Thursday. The firm’s fifty day moving average is $40.19 and its two-hundred day moving average is $35.66. The Pennant Group has a one year low of $22.25 and a one year high of $44.24. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.20 and a current ratio of 1.20. The firm has a market cap of $1.40 billion, a PE ratio of 38.97, a P/E/G ratio of 2.87 and a beta of 1.33.

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

Institutional Trading of The Pennant Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bridge City Capital LLC increased its stake in The Pennant Group by 18.6% during the 3rd quarter. Bridge City Capital LLC now owns 70,054 shares of the company’s stock worth $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 in the third quarter worth $1,279,000. Sigma Planning Corp bought a new stake in shares of The Pennant Group in the third quarter worth $1,573,000. Sterling Capital Management LLC boosted its stake in The Pennant Group by 846.7% during the 3rd quarter. Sterling Capital Management LLC now owns 1,136 shares of the company’s stock valued at $44,000 after acquiring an additional 1,016 shares during the last quarter. Finally, Kings Path Partners LLC acquired a new position in The Pennant Group during the 3rd quarter worth $684,000. 85.88% of the stock is owned by hedge funds and other institutional investors.

About The Pennant Group

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.