The Pennant Group (NASDAQ:PNTG) Upgraded by Wells Fargo & Company to “Overweight” Rating

Wells Fargo & Company upgraded shares of The Pennant Group (NASDAQ:PNTG) from an equal weight rating to an overweight rating in a research note published on Tuesday, MarketBeat Ratings reports. Wells Fargo & Company currently has $31.00 price target on the stock, up from their previous price target of $29.00.

Several other equities research analysts also recently issued reports on the company. Royal Bank Of Canada increased their target price on The Pennant Group from $34.00 to $39.00 and gave the stock an “outperform” rating in a research report on Monday. Weiss Ratings reiterated a “hold (c+)” rating on shares of The Pennant Group in a research note on Wednesday, November 5th. Stephens reissued an “overweight” rating and set a $40.00 price objective on shares of The Pennant Group in a report on Thursday, October 9th. Wall Street Zen lowered The Pennant Group from a “buy” rating to a “hold” rating in a report on Sunday. Finally, Jefferies Financial Group initiated coverage on The Pennant Group in a research report on Friday, October 24th. They set a “buy” rating and a $30.00 price target on the stock. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $33.60.

The Pennant Group Price Performance

NASDAQ PNTG opened at $26.09 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.08. The company has a market cap of $902.45 million, a PE ratio of 34.79, a price-to-earnings-growth ratio of 2.06 and a beta of 1.39. The Pennant Group has a 52 week low of $21.18 and a 52 week high of $32.11. The firm’s 50-day simple moving average is $24.89 and its two-hundred day simple moving average is $25.80.

The Pennant Group (NASDAQ:PNTG) last posted its earnings results on Wednesday, November 5th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.01. The firm had revenue of $229.04 million during the quarter, compared to the consensus estimate of $221.96 million. The Pennant Group had a net margin of 3.15% and a return on equity of 9.37%. The Pennant Group has set its FY 2025 guidance at 1.140-1.180 EPS. Research analysts predict that The Pennant Group will post 0.75 earnings per share for the current year.

Hedge Funds Weigh In On The Pennant Group

A number of institutional investors have recently added to or reduced their stakes in the business. Quarry LP bought a new stake in shares of The Pennant Group during the 3rd quarter valued at about $37,000. State of Alaska Department of Revenue purchased a new stake in The Pennant Group in the third quarter valued at approximately $54,000. Tower Research Capital LLC TRC lifted its position in The Pennant Group by 161.6% during the second quarter. Tower Research Capital LLC TRC now owns 3,987 shares of the company’s stock valued at $119,000 after purchasing an additional 2,463 shares during the last quarter. AlphaQuest LLC bought a new stake in The Pennant Group during the third quarter valued at approximately $137,000. Finally, State of Wyoming grew its stake in The Pennant Group by 41.3% in the 1st quarter. State of Wyoming now owns 6,170 shares of the company’s stock worth $155,000 after buying an additional 1,803 shares in the last quarter. 85.88% of the stock is currently owned by institutional investors.

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.