Wells Fargo & Company Increases The Pennant Group (NASDAQ:PNTG) Price Target to $38.00

The Pennant Group (NASDAQ:PNTG) had its price target lifted by equities researchers at Wells Fargo & Company from $31.00 to $38.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 30.58% from the stock’s previous close.

A number of other research firms have also weighed in on PNTG. Royal Bank Of Canada reissued an “outperform” rating on shares of The Pennant Group in a research report on Friday, December 19th. Zacks Research raised shares of The Pennant Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 20th. Weiss Ratings reissued a “hold (c)” rating on shares of The Pennant Group in a research note on Monday, December 29th. Jefferies Financial Group assumed coverage on The Pennant Group in a report on Friday, October 24th. They set a “buy” rating and a $30.00 price objective on the stock. Finally, Stephens reiterated an “overweight” rating and issued a $40.00 target price on shares of The Pennant Group in a research note on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $36.20.

The Pennant Group Stock Up 0.7%

Shares of NASDAQ:PNTG opened at $29.10 on Wednesday. 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 Pennant Group has a 52-week low of $21.18 and a 52-week high of $30.46. The stock’s fifty day simple moving average is $27.71 and its 200-day simple moving average is $25.87. The company has a market capitalization of $1.01 billion, a P/E ratio of 38.80, a P/E/G ratio of 1.96 and a beta of 1.28.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP purchased a new stake in The Pennant Group during the 3rd quarter worth $37,000. State of Alaska Department of Revenue acquired a new stake in shares of The Pennant Group during the third quarter valued at about $54,000. CIBC Private Wealth Group LLC increased its position in shares of The Pennant Group by 651.8% during the third quarter. CIBC Private Wealth Group LLC now owns 3,398 shares of the company’s stock worth $86,000 after acquiring an additional 2,946 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of 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 worth $119,000 after acquiring an additional 2,463 shares during the last quarter. Finally, AlphaQuest LLC acquired a new position in shares of The Pennant Group in the third quarter worth about $137,000. 85.88% of the stock is currently owned by hedge funds and other institutional investors.

About The Pennant Group

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.