Analysts Set The Pennant Group, Inc. (NASDAQ:PNTG) Price Target at $34.40

The Pennant Group, Inc. (NASDAQ:PNTG) has been given a consensus rating of “Moderate Buy” by the five analysts that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $34.40.

PNTG has been the subject of several recent research reports. 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 report on Wednesday, July 16th. Wall Street Zen lowered The Pennant Group from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Stephens restated an “overweight” rating and issued a $40.00 price objective on shares of The Pennant Group in a research report on Thursday, September 4th. Finally, Wells Fargo & Company cut their target price on shares of The Pennant Group from $31.00 to $29.00 and set an “equal weight” rating for the company in a report on Thursday, August 14th.

Institutional Investors Weigh In On The Pennant Group

Hedge funds have recently modified their holdings of the company. Ophir Asset Management Pty Ltd increased its stake in shares of The Pennant Group by 403.9% in the 2nd 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 in the last quarter. Van Berkom & Associates Inc. grew its holdings in The Pennant Group by 29.6% in 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 period. 8 Knots Management LLC increased its position in shares of The Pennant Group by 23.9% in the first quarter. 8 Knots Management LLC now owns 3,014,023 shares of the company’s stock valued at $75,803,000 after buying an additional 581,313 shares in the last quarter. Ameriprise Financial Inc. acquired a new position in shares of The Pennant Group during the 2nd quarter worth approximately $14,356,000. Finally, Nuveen LLC acquired a new position in shares of The Pennant Group during the 1st quarter worth approximately $9,181,000. 85.88% of the stock is owned by hedge funds and other institutional investors.

The Pennant Group Stock Performance

PNTG opened at $25.22 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.11. The Pennant Group has a 12-month low of $21.18 and a 12-month high of $36.20. The firm has a 50 day moving average of $24.38 and a two-hundred day moving average of $25.85. The firm has a market capitalization of $871.60 million, a PE ratio of 32.33, a P/E/G ratio of 2.07 and a beta of 1.31.

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.