The Pennant Group (NASDAQ:PNTG) Earns Overweight Rating from Stephens

The Pennant Group (NASDAQ:PNTG)‘s stock had its “overweight” rating reiterated by analysts at Stephens in a report released on Tuesday,Benzinga reports. They currently have a $38.00 target price on the stock. Stephens’ target price would indicate a potential upside of 66.23% from the stock’s current price.

A number of other equities analysts also recently commented on PNTG. Truist Financial reduced their price objective on The Pennant Group from $32.00 to $28.00 and set a “hold” rating on the stock in a research report on Friday. Wells Fargo & Company assumed coverage on shares of The Pennant Group in a research report on Thursday, December 19th. They set an “equal weight” rating and a $33.00 price target on the stock. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $34.80.

The Pennant Group Price Performance

PNTG stock traded up $0.37 during mid-day trading on Tuesday, reaching $22.86. The company’s stock had a trading volume of 34,628 shares, compared to its average volume of 210,288. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.58. The company’s 50 day moving average is $26.11 and its two-hundred day moving average is $30.14. The Pennant Group has a fifty-two week low of $18.21 and a fifty-two week high of $37.13. The stock has a market cap of $787.07 million, a PE ratio of 33.64, a P/E/G ratio of 2.24 and a beta of 2.06.

Institutional Trading of The Pennant Group

A number of hedge funds and other institutional investors have recently modified their holdings of PNTG. Franklin Resources Inc. boosted its stake in The Pennant Group by 26.6% during the third quarter. Franklin Resources Inc. now owns 18,347 shares of the company’s stock worth $638,000 after buying an additional 3,859 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of The Pennant Group by 68.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 205,922 shares of the company’s stock worth $7,351,000 after acquiring an additional 83,664 shares during the last quarter. FMR LLC boosted its position in shares of The Pennant Group by 51.3% during the 3rd quarter. FMR LLC now owns 2,528,512 shares of the company’s stock worth $90,268,000 after purchasing an additional 856,838 shares during the period. Barclays PLC boosted its position in shares of The Pennant Group by 375.0% during the 3rd quarter. Barclays PLC now owns 49,101 shares of the company’s stock worth $1,753,000 after purchasing an additional 38,763 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in The Pennant Group in the 3rd quarter valued at approximately $685,000. 85.88% of the stock is owned by institutional investors and hedge funds.

The Pennant Group Company Profile

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.