The Pennant Group (NASDAQ:PNTG) Price Target Raised to $48.00

The Pennant Group (NASDAQ:PNTG) had its price target upped by equities research analysts at Truist Financial from $42.00 to $48.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s target price would indicate a potential upside of 21.61% from the stock’s previous close.

Several other research analysts have also commented on the company. Royal Bank Of Canada lifted their price target on The Pennant Group from $41.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Weiss Ratings raised shares of The Pennant Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, July 1st. Wells Fargo & Company raised their price target on shares of The Pennant Group from $41.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Wall Street Zen raised shares of The Pennant Group from a “hold” rating to a “buy” rating in a research report on Saturday, June 20th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $41.00.

The Pennant Group Trading Down 1.0%

Shares of PNTG stock opened at $39.47 on Tuesday. The Pennant Group has a 52-week low of $21.73 and a 52-week high of $41.67. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.19 and a current ratio of 1.19. The firm has a market capitalization of $1.37 billion, a PE ratio of 47.17, a PEG ratio of 2.72 and a beta of 1.25. The stock has a fifty day simple moving average of $34.90 and a two-hundred day simple moving average of $32.14.

The Pennant Group (NASDAQ:PNTG) last released its earnings results 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 firm had revenue of $285.36 million during the quarter, compared to analysts’ expectations of $280.75 million. The Pennant Group had a return on equity of 10.07% and a net margin of 2.96%. On average, analysts predict that The Pennant Group will post 1.14 EPS for the current fiscal year.

Institutional Trading of The Pennant Group

A number of institutional investors have recently bought and sold shares of the stock. Wasatch Advisors LP grew its holdings in shares of The Pennant Group by 31.8% during the second quarter. Wasatch Advisors LP now owns 1,870,178 shares of the company’s stock valued at $69,103,000 after buying an additional 451,491 shares during the last quarter. GAMMA Investing LLC lifted its position in The Pennant Group by 34.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,568 shares of the company’s stock worth $58,000 after acquiring an additional 403 shares during the period. Parallel Advisors LLC grew its stake in The Pennant Group by 1,186.8% during the 1st quarter. Parallel Advisors LLC now owns 1,364 shares of the company’s stock valued at $42,000 after purchasing an additional 1,258 shares during the last quarter. Turtle Creek Asset Management Inc. lifted its holdings in shares of The Pennant Group by 12,075.6% during the first quarter. Turtle Creek Asset Management Inc. now owns 1,582,823 shares of the company’s stock worth $48,244,000 after purchasing an additional 1,569,823 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of The Pennant Group by 5.6% during the first quarter. Bank of America Corp DE now owns 113,840 shares of the company’s stock worth $3,470,000 after purchasing an additional 5,991 shares during the period. 85.88% of the stock is currently owned by institutional investors and hedge funds.

The Pennant Group Company Profile

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.