The Pennant Group (NASDAQ:PNTG) Earns Buy Rating from Analysts at Jefferies Financial Group

Jefferies Financial Group initiated coverage on shares of The Pennant Group (NASDAQ:PNTG) in a research report released on Friday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $30.00 target price on the stock.

A number of other equities analysts also recently weighed in on PNTG. Wells Fargo & Company cut their price target on shares of The Pennant Group from $31.00 to $29.00 and set an “equal weight” rating on the stock in a report on Thursday, August 14th. Truist Financial reduced their target price on shares of The Pennant Group from $32.00 to $28.00 and set a “hold” rating for the company in a research report on Wednesday, July 16th. Wall Street Zen downgraded shares of The Pennant Group from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Weiss Ratings reissued a “hold (c)” rating on shares of The Pennant Group in a research report on Tuesday, October 14th. Finally, Stephens reissued an “overweight” rating and set a $40.00 target price on shares of The Pennant Group in a research report on Thursday, October 9th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $32.80.

The Pennant Group Price Performance

Shares of NASDAQ:PNTG opened at $25.24 on Friday. The company’s 50-day moving average is $24.70 and its 200 day moving average is $25.86. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.21 and a current ratio of 1.21. The company has a market capitalization of $872.29 million, a P/E ratio of 32.36, a price-to-earnings-growth ratio of 2.13 and a beta of 1.35. The Pennant Group has a fifty-two week low of $21.18 and a fifty-two week high of $34.39.

Institutional Investors Weigh In On The Pennant Group

Several institutional investors have recently added to or reduced their stakes in PNTG. Ophir Asset Management Pty Ltd lifted its holdings in The Pennant Group by 403.9% during the second quarter. Ophir Asset Management Pty Ltd now owns 1,048,759 shares of the company’s stock valued at $31,305,000 after purchasing an additional 840,642 shares during the last quarter. Van Berkom & Associates Inc. lifted its holdings in The Pennant Group by 29.6% during the first quarter. Van Berkom & Associates Inc. now owns 2,849,562 shares of the company’s stock valued at $71,666,000 after purchasing an additional 651,346 shares during the last quarter. 8 Knots Management LLC lifted its holdings in The Pennant Group by 23.9% during the first quarter. 8 Knots Management LLC now owns 3,014,023 shares of the company’s stock valued at $75,803,000 after purchasing an additional 581,313 shares during the last quarter. Ameriprise Financial Inc. bought a new stake in shares of The Pennant Group during the second quarter valued at about $14,356,000. Finally, Nuveen LLC bought a new stake in shares of The Pennant Group during the first quarter valued at about $9,181,000. 85.88% of the stock is owned by hedge funds and other institutional investors.

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.