The Pennant Group (NASDAQ:PNTG) Sets New 1-Year High After Analyst Upgrade

The Pennant Group, Inc. (NASDAQ:PNTG)’s share price hit a new 52-week high during trading on Monday after Truist Financial raised their price target on the stock from $42.00 to $48.00. Truist Financial currently has a buy rating on the stock. The Pennant Group traded as high as $41.61 and last traded at $40.9150, with a volume of 285427 shares changing hands. The stock had previously closed at $40.50.

PNTG has been the subject of several other reports. 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. Wells Fargo & Company boosted their price objective on shares of The Pennant Group from $41.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday. Wall Street Zen raised shares of The Pennant Group from a “hold” rating to a “buy” rating in a research note on Saturday, June 20th. Finally, Royal Bank Of Canada upped their price objective on shares of The Pennant Group from $41.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $41.00.

Hedge Funds Weigh In On The Pennant Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of The Pennant Group by 4.2% in the 4th quarter. Vanguard Group Inc. now owns 2,049,968 shares of the company’s stock worth $57,707,000 after purchasing an additional 82,071 shares during the last quarter. Wasatch Advisors LP grew its position in The Pennant Group by 31.8% during the 2nd quarter. Wasatch Advisors LP now owns 1,870,178 shares of the company’s stock valued at $69,103,000 after purchasing an additional 451,491 shares during the last quarter. Turtle Creek Asset Management Inc. grew its position in The Pennant Group by 12,075.6% during the 1st quarter. Turtle Creek Asset Management Inc. now owns 1,582,823 shares of the company’s stock valued at $48,244,000 after purchasing an additional 1,569,823 shares during the last quarter. Ophir Asset Management Pty Ltd increased its stake in The Pennant Group by 24.1% during the 4th quarter. Ophir Asset Management Pty Ltd now owns 1,326,850 shares of the company’s stock valued at $37,351,000 after purchasing an additional 257,840 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in The Pennant Group by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 820,048 shares of the company’s stock valued at $23,089,000 after purchasing an additional 3,875 shares in the last quarter. 85.88% of the stock is currently owned by institutional investors.

The Pennant Group Stock Performance

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 firm has a market capitalization of $1.38 billion, a P/E ratio of 46.78, a price-to-earnings-growth ratio of 2.68 and a beta of 1.25. The business’s 50 day simple moving average is $35.06 and its two-hundred day simple moving average is $32.21.

The Pennant Group (NASDAQ:PNTG) last issued its earnings results on Wednesday, May 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $285.36 million for the quarter, compared to the consensus estimate of $280.75 million. Sell-side analysts anticipate that The Pennant Group, Inc. will post 1.14 EPS for the current fiscal year.

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.