The Pennant Group (NASDAQ:PNTG) Price Target Raised to $37.00 at Oppenheimer

The Pennant Group (NASDAQ:PNTG) had its price objective boosted by equities research analysts at Oppenheimer from $34.00 to $37.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s price target points to a potential upside of 12.53% from the company’s previous close.

A number of other equities analysts also recently issued reports on PNTG. Royal Bank of Canada increased their price target on The Pennant Group from $26.00 to $38.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Truist Financial increased their price target 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. Finally, Stephens reissued an “overweight” rating and set a $40.00 price target on shares of The Pennant Group in a research report on Wednesday, October 9th.

The Pennant Group Trading Up 2.8 %

The Pennant Group stock traded up $0.88 during mid-day trading on Friday, hitting $32.88. The company’s stock had a trading volume of 53,609 shares, compared to its average volume of 197,839. The company has a 50 day moving average of $33.82 and a 200-day moving average of $28.34. The stock has a market cap of $996.59 million, a PE ratio of 52.19, a P/E/G ratio of 3.32 and a beta of 2.02. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.12 and a current ratio of 1.12. The Pennant Group has a one year low of $11.95 and a one year high of $37.13.

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 analysts’ consensus estimates of $0.17 by $0.02. The Pennant Group had a return on equity of 13.74% and a net margin of 3.16%. The business had revenue of $168.75 million for the quarter, compared to the consensus estimate of $156.71 million. On average, research analysts anticipate that The Pennant Group will post 0.75 EPS for the current year.

Institutional Trading of The Pennant Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Creative Planning grew its holdings in The Pennant Group by 2.0% during the second quarter. Creative Planning now owns 19,152 shares of the company’s stock worth $444,000 after acquiring an additional 373 shares during the period. The Manufacturers Life Insurance Company grew its holdings in The Pennant Group by 4.4% during the second quarter. The Manufacturers Life Insurance Company now owns 11,227 shares of the company’s stock worth $260,000 after acquiring an additional 471 shares during the period. Principal Financial Group Inc. grew its holdings in The Pennant Group by 9.9% during the second quarter. Principal Financial Group Inc. now owns 11,029 shares of the company’s stock worth $256,000 after acquiring an additional 991 shares during the period. Covestor Ltd grew its holdings in The Pennant Group by 3,805.6% during the first quarter. Covestor Ltd now owns 1,406 shares of the company’s stock worth $28,000 after acquiring an additional 1,370 shares during the period. Finally, Trust Point Inc. grew its holdings in The Pennant Group by 9.7% in the third quarter. Trust Point Inc. now owns 24,926 shares of the company’s stock valued at $890,000 after purchasing an additional 2,199 shares during the period. 85.88% of the stock is owned by institutional investors and hedge funds.

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.