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

Stephens reaffirmed their overweight rating on shares of The Pennant Group (NASDAQ:PNTG) in a report released on Wednesday,Benzinga reports. Stephens currently has a $38.00 price objective on the stock.

Several other equities research analysts have also recently commented on the company. Truist Financial cut their target price on The Pennant Group from $32.00 to $28.00 and set a “hold” rating on the stock in a research note on Friday, March 7th. Wells Fargo & Company assumed coverage on shares of The Pennant Group in a research report on Thursday, December 19th. They issued an “equal weight” rating and a $33.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $34.80.

The Pennant Group Price Performance

PNTG stock opened at $24.57 on Wednesday. The stock has a market cap of $845.95 million, a PE ratio of 36.13, a price-to-earnings-growth ratio of 2.24 and a beta of 1.73. The stock has a 50-day moving average price of $25.17 and a two-hundred day moving average price of $28.97. The Pennant Group has a 1 year low of $19.37 and a 1 year high of $37.13. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.58.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PNTG. Quarry LP boosted its holdings in shares of The Pennant Group by 371.6% in the 3rd quarter. Quarry LP now owns 1,014 shares of the company’s stock valued at $36,000 after buying an additional 799 shares during the last quarter. Turtle Creek Asset Management Inc. lifted its stake in The Pennant Group by 150.0% in the fourth quarter. Turtle Creek Asset Management Inc. now owns 2,500 shares of the company’s stock valued at $66,000 after acquiring an additional 1,500 shares during the last quarter. Summit Investment Advisors Inc. grew its position in shares of The Pennant Group by 20.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,414 shares of the company’s stock valued at $91,000 after acquiring an additional 575 shares during the period. Point72 Asia Singapore Pte. Ltd. increased its stake in shares of The Pennant Group by 460.2% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,311 shares of the company’s stock worth $118,000 after purchasing an additional 2,720 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado bought a new stake in shares of The Pennant Group in the 4th quarter valued at about $122,000. 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.