The Pennant Group (NASDAQ:PNTG) Stock Price Expected to Rise, Truist Financial Analyst Says

The Pennant Group (NASDAQ:PNTG) had its target price boosted by research analysts at Truist Financial from $36.00 to $42.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price target would indicate a potential upside of 17.68% from the company’s previous close.

A number of other brokerages have also recently weighed in on PNTG. Zacks Research cut shares of The Pennant Group from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Royal Bank Of Canada boosted their price objective on The Pennant Group from $41.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday. Wall Street Zen downgraded The Pennant Group from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Wells Fargo & Company raised their price objective on shares of The Pennant Group from $38.00 to $41.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Weiss Ratings upgraded shares of The Pennant Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $39.00.

The Pennant Group Stock Down 0.1%

Shares of NASDAQ:PNTG traded down $0.04 during midday trading on Friday, reaching $35.69. The company had a trading volume of 181,633 shares, compared to its average volume of 274,614. The stock has a market capitalization of $1.25 billion, a P/E ratio of 42.00, a PEG ratio of 2.22 and a beta of 1.28. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.14 and a quick ratio of 1.14. The Pennant Group has a one year low of $21.73 and a one year high of $37.54. The stock’s fifty day moving average price is $31.60 and its 200-day moving average price is $29.45.

The Pennant Group (NASDAQ:PNTG) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The Pennant Group had a return on equity of 10.35% 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. Equities research analysts expect that The Pennant Group will post 1.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On The Pennant Group

Several institutional investors and hedge funds have recently modified their holdings of PNTG. 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 buying an additional 835,227 shares during the period. WCM Investment Management LLC bought a new position in The Pennant Group during the 3rd quarter worth about $16,100,000. Ameriprise Financial Inc. acquired a new stake in shares of The Pennant Group in the 2nd quarter valued at about $14,356,000. Provident Investment Management Inc. lifted its holdings in shares of The Pennant Group by 161.0% in the fourth quarter. Provident Investment Management Inc. now owns 691,862 shares of the company’s stock valued at $19,476,000 after purchasing an additional 426,797 shares in the last quarter. Finally, Loomis Sayles & Co. L P bought a new position in shares of The Pennant Group during the fourth quarter worth about $11,023,000. 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.