The Pennant Group (NASDAQ:PNTG) Price Target Raised to $48.00

The Pennant Group (NASDAQ:PNTG) had its price target increased by Truist Financial from $42.00 to $48.00 in a research report released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also issued reports about the stock. Wells Fargo & Company lifted their price objective on shares of The Pennant Group from $41.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday. Weiss Ratings upgraded shares of The Pennant Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, July 1st. Wall Street Zen raised The Pennant Group from a “hold” rating to a “buy” rating in a report on Saturday, June 20th. Finally, Royal Bank Of Canada boosted their price target on The Pennant Group from $41.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, The Pennant Group presently has a consensus rating of “Moderate Buy” and an average price target of $41.00.

The Pennant Group Price Performance

PNTG stock opened at $41.71 on Tuesday. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $1.45 billion, a P/E ratio of 49.07, a PEG ratio of 2.69 and a beta of 1.25. The business has a 50 day simple moving average of $35.33 and a 200-day simple moving average of $32.37. The Pennant Group has a twelve month low of $21.73 and a twelve month high of $42.47.

The Pennant Group (NASDAQ:PNTG) last announced its earnings results on Wednesday, May 6th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The Pennant Group had a net margin of 2.96% and a return on equity of 10.07%. The business had revenue of $285.36 million for the quarter, compared to analysts’ expectations of $280.75 million. As a group, equities analysts anticipate that The Pennant Group will post 1.14 EPS for the current year.

Hedge Funds Weigh In On The Pennant Group

Several institutional investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd grew its holdings in The Pennant Group by 154.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,182 shares of the company’s stock worth $33,000 after acquiring an additional 717 shares during the period. Quarry LP purchased a new position in The Pennant Group in the third quarter worth $37,000. Parallel Advisors LLC lifted its holdings in The Pennant Group by 1,186.8% in the first quarter. Parallel Advisors LLC now owns 1,364 shares of the company’s stock valued at $42,000 after acquiring an additional 1,258 shares during the period. GAMMA Investing LLC lifted its holdings in The Pennant Group by 34.6% in the second quarter. GAMMA Investing LLC now owns 1,568 shares of the company’s stock valued at $58,000 after acquiring an additional 403 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its position in shares of The Pennant Group by 651.8% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 3,398 shares of the company’s stock worth $86,000 after purchasing an additional 2,946 shares in the last quarter. 85.88% of the stock is owned by institutional investors and hedge funds.

The Pennant Group Company Profile

The Pennant Group (NASDAQ: PNTG) is a publicly traded holding company that provides specialized services to the asset management industry. Through its operating subsidiaries, the company delivers outsourced fund administration, securities lending, prime brokerage, and capital markets solutions designed to support hedge funds, private equity firms, mutual funds and other institutional investors. By leveraging a combination of technology platforms and industry expertise, The Pennant Group helps clients streamline middle- and back-office processes, enhance operational efficiency and manage regulatory requirements.

Key service offerings include fund accounting and reporting, trade settlement and reconciliation, risk monitoring, securities lending programs and execution support across a range of asset classes.