The Pennant Group (NASDAQ:PNTG) Price Target Cut to $28.00 by Analysts at Truist

The Pennant Group (NASDAQ:PNTG) had its target price reduced by Truist from $35.00 to $28.00 in a research report sent to investors on Wednesday, The Fly reports. They currently have a hold rating on the stock.

A number of other analysts also recently commented on the company. Zacks Investment Research raised The Pennant Group from a sell rating to a hold rating in a research note on Wednesday. Truist Securities decreased their target price on The Pennant Group from $44.00 to $35.00 and set a hold rating on the stock in a report on Wednesday, August 11th. Royal Bank of Canada decreased their target price on The Pennant Group from $50.00 to $44.00 and set an outperform rating on the stock in a report on Wednesday, August 11th. Finally, Stifel Nicolaus assumed coverage on The Pennant Group in a report on Monday, September 20th. They issued a buy rating and a $37.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Hold and an average price target of $44.50.

PNTG opened at $24.21 on Wednesday. The Pennant Group has a one year low of $22.63 and a one year high of $69.56. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.89 and a current ratio of 0.89. The stock’s fifty day moving average is $29.41 and its 200-day moving average is $35.46. The company has a market capitalization of $686.64 million, a PE ratio of 60.53 and a beta of 2.60.

The Pennant Group (NASDAQ:PNTG) last posted its quarterly earnings data on Monday, August 9th. The company reported $0.17 EPS for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.03. The Pennant Group had a return on equity of 17.47% and a net margin of 2.85%. The company had revenue of $110.35 million for the quarter, compared to the consensus estimate of $107.50 million. On average, equities research analysts forecast that The Pennant Group will post 0.66 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of the company. Prospera Financial Services Inc grew its holdings in shares of The Pennant Group by 4.5% during the second quarter. Prospera Financial Services Inc now owns 9,141 shares of the company’s stock valued at $374,000 after buying an additional 396 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in shares of The Pennant Group by 2.4% during the second quarter. State of Alaska Department of Revenue now owns 17,627 shares of the company’s stock valued at $720,000 after buying an additional 406 shares in the last quarter. Prudential Financial Inc. grew its holdings in shares of The Pennant Group by 1.6% during the first quarter. Prudential Financial Inc. now owns 29,696 shares of the company’s stock valued at $1,360,000 after buying an additional 461 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of The Pennant Group by 3.5% during the second quarter. The Manufacturers Life Insurance Company now owns 14,891 shares of the company’s stock valued at $609,000 after buying an additional 507 shares in the last quarter. Finally, Captrust Financial Advisors grew its holdings in shares of The Pennant Group by 1,696.7% during the first quarter. Captrust Financial Advisors now owns 539 shares of the company’s stock valued at $25,000 after buying an additional 509 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

About The Pennant Group

The Pennant Group, Inc provides healthcare services in Arizona, California, Colorado, Idaho, Iowa, Montana, Nevada, Oklahoma, Oregon, Texas, Utah, Washington, Wisconsin, and Wyoming. 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.

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