Analysts Set The Pennant Group, Inc. (NASDAQ:PNTG) Target Price at $41.00

The Pennant Group, Inc. (NASDAQ:PNTG) has been assigned an average rating of “Moderate Buy” from the eight brokerages that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $41.00.

PNTG has been the topic of several recent analyst reports. Truist Financial lifted their target price 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. Wall Street Zen raised The Pennant Group from a “hold” rating to a “buy” rating in a research note on Saturday, June 20th. Wells Fargo & Company increased their price target on The Pennant Group from $41.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. Weiss Ratings lowered The Pennant Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, July 21st. Finally, Royal Bank Of Canada lifted their price objective on shares of The Pennant Group from $41.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, May 8th.

Institutional Trading of The Pennant Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Turtle Creek Asset Management Inc. lifted its stake in shares of The Pennant Group by 12,075.6% in the 1st quarter. Turtle Creek Asset Management Inc. now owns 1,582,823 shares of the company’s stock worth $48,244,000 after acquiring an additional 1,569,823 shares during the period. Wasatch Advisors LP boosted its holdings in shares of The Pennant Group by 143.2% in the first quarter. Wasatch Advisors LP now owns 1,418,687 shares of the company’s stock valued at $43,242,000 after acquiring an additional 835,227 shares in the last quarter. Ameriprise Financial Inc. acquired a new position in shares of The Pennant Group during the second quarter valued at approximately $14,356,000. Provident Investment Management Inc. increased its stake in shares of The Pennant Group by 161.0% during the fourth quarter. Provident Investment Management Inc. now owns 691,862 shares of the company’s stock valued at $19,476,000 after acquiring an additional 426,797 shares during the period. Finally, Loomis Sayles & Co. L P acquired a new position in shares of The Pennant Group during the fourth quarter valued at approximately $11,023,000. 85.88% of the stock is currently owned by institutional investors.

The Pennant Group Price Performance

Shares of NASDAQ:PNTG opened at $41.08 on Friday. The firm’s 50 day moving average is $36.36 and its two-hundred day moving average is $33.17. The firm has a market capitalization of $1.43 billion, a P/E ratio of 48.33, a PEG ratio of 2.82 and a beta of 1.25. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.42. The Pennant Group has a 52 week low of $21.73 and a 52 week high of $42.69.

The Pennant Group (NASDAQ:PNTG) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.01. The Pennant Group had a return on equity of 10.07% and a net margin of 2.96%.The business had revenue of $285.36 million during the quarter, compared to the consensus estimate of $280.75 million. Analysts anticipate that The Pennant Group will post 1.14 earnings per share for the current year.

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.