Brokerages Set The Pennant Group, Inc. (NASDAQ:PNTG) Target Price at $39.00

The Pennant Group, Inc. (NASDAQ:PNTG) has earned a consensus rating of “Moderate Buy” from the eight brokerages that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $39.00.

Several equities analysts have issued reports on PNTG shares. Weiss Ratings raised shares of The Pennant Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, July 1st. Wells Fargo & Company increased their price objective on The Pennant Group from $38.00 to $41.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Truist Financial boosted their target price on The Pennant Group from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Royal Bank Of Canada increased their price target on The Pennant Group from $41.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Finally, Wall Street Zen raised The Pennant Group from a “hold” rating to a “buy” rating in a report on Saturday, June 20th.

Hedge Funds Weigh In On The Pennant Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd grew its position in The Pennant Group by 154.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,182 shares of the company’s stock worth $33,000 after purchasing an additional 717 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of The Pennant Group by 1,186.8% in the first quarter. Parallel Advisors LLC now owns 1,364 shares of the company’s stock worth $42,000 after buying an additional 1,258 shares during the last quarter. Quarry LP acquired a new stake in shares of The Pennant Group during the third quarter worth $37,000. Quadrant Capital Group LLC lifted its stake in shares of The Pennant Group by 608.7% during the fourth quarter. Quadrant Capital Group LLC now owns 3,182 shares of the company’s stock worth $90,000 after buying an additional 2,733 shares during the period. Finally, CIBC Private Wealth Group LLC grew its holdings in shares of The Pennant Group by 651.8% during the third quarter. CIBC Private Wealth Group LLC now owns 3,398 shares of the company’s stock valued at $86,000 after buying an additional 2,946 shares during the last quarter. 85.88% of the stock is owned by hedge funds and other institutional investors.

The Pennant Group Stock Up 0.2%

Shares of PNTG stock traded up $0.10 during mid-day trading on Tuesday, hitting $40.01. 199,991 shares of the stock traded hands, compared to its average volume of 285,669. The Pennant Group has a 52-week low of $21.73 and a 52-week high of $41.35. The stock has a market cap of $1.39 billion, a P/E ratio of 47.07, a P/E/G ratio of 2.59 and a beta of 1.25. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.19 and a quick ratio of 1.19. The stock’s fifty day moving average is $33.78 and its two-hundred day moving average is $31.69.

The Pennant Group (NASDAQ:PNTG) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.32 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 analyst estimates of $280.75 million. The Pennant Group had a net margin of 2.96% and a return on equity of 10.07%. Equities analysts predict that The Pennant Group will post 1.14 EPS 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.