Zacks Investment Research Downgrades The Pennant Group (NASDAQ:PNTG) to Hold


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The Pennant Group (NASDAQ:PNTG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “The Pennant Group Inc. through subsidiaries offers home health, hospice and senior living services. It operates primarily in Arizona, California, Colorado, Idaho, Iowa, Nevada, Oklahoma, Oregon, Texas, Utah, Washington, Wisconsin and Wyoming. The Pennant Group Inc. is based in Eagle, United States. “

Other research analysts have also recently issued reports about the stock. Truist Financial raised their target price on shares of The Pennant Group from $44.00 to $60.00 in a report on Tuesday, January 5th. Royal Bank of Canada raised their target price on shares of The Pennant Group from $40.00 to $44.00 and gave the stock a “sector perform” rating in a report on Thursday, November 12th. Finally, BidaskClub cut shares of The Pennant Group from a “strong-buy” rating to a “buy” rating in a report on Friday, January 1st. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $49.20.

The Pennant Group stock opened at $61.60 on Thursday. The stock has a market cap of $1.74 billion and a P/E ratio of 362.35. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.01. The Pennant Group has a twelve month low of $9.40 and a twelve month high of $69.56. The company’s 50-day moving average price is $58.18 and its two-hundred day moving average price is $40.53.

The Pennant Group (NASDAQ:PNTG) last released its quarterly earnings results on Saturday, November 14th. The company reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.01. The firm had revenue of $98.40 million for the quarter, compared to analysts’ expectations of $96.70 million. The Pennant Group had a net margin of 1.39% and a return on equity of 22.16%. Equities analysts anticipate that The Pennant Group will post 0.66 earnings per share for the current fiscal year.

In related news, Director Christopher R. Christensen sold 16,772 shares of the stock in a transaction that occurred on Monday, December 21st. The shares were sold at an average price of $59.77, for a total transaction of $1,002,462.44. Following the sale, the director now owns 150,823 shares in the company, valued at approximately $9,014,690.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Daniel H. Walker sold 45,447 shares of the stock in a transaction that occurred on Thursday, October 22nd. The stock was sold at an average price of $40.05, for a total transaction of $1,820,152.35. Following the sale, the chief executive officer now owns 1,193,691 shares in the company, valued at approximately $47,807,324.55. The disclosure for this sale can be found here. Insiders have sold a total of 84,244 shares of company stock worth $4,097,609 in the last quarter. 10.40% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of PNTG. Vanguard Group Inc. acquired a new stake in shares of The Pennant Group during the 2nd quarter worth approximately $66,091,000. Riverbridge Partners LLC acquired a new stake in The Pennant Group in the third quarter valued at approximately $22,371,000. Nuveen Asset Management LLC acquired a new stake in The Pennant Group in the second quarter valued at approximately $6,447,000. Bank of New York Mellon Corp acquired a new stake in The Pennant Group in the second quarter valued at approximately $6,156,000. Finally, Principal Financial Group Inc. acquired a new stake in The Pennant Group in the third quarter valued at approximately $7,558,000. Institutional investors and hedge funds own 80.42% 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, counseling, and palliative services for the physical, spiritual, and psychosocial needs of terminally ill patients and their families.

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