The Pennant Group (NASDAQ:PNTG) Given New $37.00 Price Target at Oppenheimer

The Pennant Group (NASDAQ:PNTG) had its target price raised by Oppenheimer from $34.00 to $37.00 in a research note issued to investors on Friday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities research analysts have also issued reports on the company. Truist Financial boosted their target price on The Pennant Group from $34.00 to $38.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. Royal Bank of Canada raised their price target on shares of The Pennant Group from $26.00 to $38.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, Stephens reiterated an “overweight” rating and issued a $40.00 price objective on shares of The Pennant Group in a research note on Wednesday, October 9th.

The Pennant Group Price Performance

PNTG stock traded up $1.42 during trading hours on Friday, hitting $33.42. 262,213 shares of the stock traded hands, compared to its average volume of 198,817. 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 stock has a 50-day simple moving average of $33.80 and a 200 day simple moving average of $28.37. The Pennant Group has a one year low of $11.95 and a one year high of $37.13. The company has a market cap of $1.01 billion, a P/E ratio of 49.15, a P/E/G ratio of 3.41 and a beta of 2.02.

The Pennant Group (NASDAQ:PNTG) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.02. The Pennant Group had a net margin of 3.24% and a return on equity of 14.02%. The firm had revenue of $168.75 million for the quarter, compared to analyst estimates of $156.71 million. Equities analysts forecast that The Pennant Group will post 0.75 earnings per share for the current year.

Institutional Investors Weigh In On The Pennant Group

Large investors have recently bought and sold shares of the business. 8 Knots Management LLC increased its holdings in shares of The Pennant Group by 34.0% during the 1st quarter. 8 Knots Management LLC now owns 2,462,553 shares of the company’s stock valued at $48,340,000 after acquiring an additional 625,061 shares during the last quarter. Sei Investments Co. increased its stake in shares of The Pennant Group by 679.7% in the first quarter. Sei Investments Co. now owns 136,026 shares of the company’s stock worth $2,670,000 after purchasing an additional 118,581 shares during the period. Grandeur Peak Global Advisors LLC acquired a new position in shares of The Pennant Group during the 1st quarter worth about $2,225,000. Vanguard Group Inc. grew its holdings in The Pennant Group by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 1,859,679 shares of the company’s stock valued at $36,505,000 after buying an additional 77,052 shares during the last quarter. Finally, Federated Hermes Inc. increased its position in The Pennant Group by 600.0% in the 2nd quarter. Federated Hermes Inc. now owns 54,045 shares of the company’s stock worth $1,253,000 after buying an additional 46,324 shares during the period. 85.88% of the stock is currently owned by institutional investors.

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.