Royal Bank of Canada Increases The Pennant Group (NASDAQ:PNTG) Price Target to $38.00

The Pennant Group (NASDAQ:PNTG) had its target price hoisted by equities research analysts at Royal Bank of Canada from $26.00 to $38.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 14.08% from the company’s previous close.

PNTG has been the topic of a number of other reports. Truist Financial increased their price objective on shares of The Pennant Group from $34.00 to $38.00 and gave the company a “hold” rating in a research note on Monday, October 7th. Oppenheimer upped their price target on shares of The Pennant Group from $28.00 to $34.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Finally, Stephens reissued an “overweight” rating and set a $40.00 price objective on shares of The Pennant Group in a research note on Wednesday, October 9th.

The Pennant Group Trading Down 2.5 %

Shares of PNTG opened at $33.31 on Wednesday. The Pennant Group has a twelve month low of $10.46 and a twelve month high of $37.13. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $1.01 billion, a P/E ratio of 52.87, a PEG ratio of 3.42 and a beta of 2.01. The firm’s 50-day moving average is $33.86 and its two-hundred day moving average is $27.45.

The Pennant Group (NASDAQ:PNTG) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. The business had revenue of $168.75 million for the quarter, compared to analysts’ expectations of $156.71 million. The Pennant Group had a return on equity of 13.74% and a net margin of 3.16%. On average, research analysts predict that The Pennant Group will post 0.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On The Pennant Group

Hedge funds have recently modified their holdings of the company. Creative Planning increased its stake in The Pennant Group by 2.0% in the second quarter. Creative Planning now owns 19,152 shares of the company’s stock valued at $444,000 after purchasing an additional 373 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of The Pennant Group by 4.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,227 shares of the company’s stock valued at $260,000 after acquiring an additional 471 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of The Pennant Group by 9.9% during the 2nd quarter. Principal Financial Group Inc. now owns 11,029 shares of the company’s stock worth $256,000 after acquiring an additional 991 shares during the period. Covestor Ltd boosted its position in shares of The Pennant Group by 3,805.6% in the first quarter. Covestor Ltd now owns 1,406 shares of the company’s stock worth $28,000 after acquiring an additional 1,370 shares during the last quarter. Finally, Trust Point Inc. grew its holdings in The Pennant Group by 9.7% in the third quarter. Trust Point Inc. now owns 24,926 shares of the company’s stock valued at $890,000 after purchasing an additional 2,199 shares during the period. 85.88% of the stock is owned by institutional investors and hedge funds.

About The Pennant Group

The Pennant Group, Inc provides healthcare services in the United States. It operates in two segments, Home Health and Hospice Services, and Senior Living Services. The company offers home health services, including clinical services, such as nursing, speech, occupational and physical therapy, medical social work, and home health aide services; and hospice services comprising clinical care, education, and counseling services for the physical, spiritual, and psychosocial needs of terminally ill patients and their families.