The Pennant Group (NASDAQ:PNTG) Stock Rating Upgraded by Truist Financial

The Pennant Group (NASDAQ:PNTG) was upgraded by stock analysts at Truist Financial from a “hold” rating to a “buy” rating in a research note issued on Tuesday, Marketbeat Ratings reports. The brokerage presently has a $34.00 price objective on the stock, up from their previous price objective of $28.00. Truist Financial’s price objective suggests a potential upside of 16.92% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Jefferies Financial Group initiated coverage on shares of The Pennant Group in a research report on Friday, October 24th. They issued a “buy” rating and a $30.00 price objective on the stock. Royal Bank Of Canada lifted their price target on The Pennant Group from $34.00 to $39.00 and gave the company an “outperform” rating in a report on Monday, November 17th. Weiss Ratings reissued a “hold (c)” rating on shares of The Pennant Group in a report on Monday, November 24th. Wells Fargo & Company upgraded The Pennant Group from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $29.00 to $31.00 in a research report on Tuesday, November 18th. Finally, Stephens reiterated an “overweight” rating and set a $40.00 price target on shares of The Pennant Group in a research report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, The Pennant Group presently has an average rating of “Buy” and an average target price of $34.80.

The Pennant Group Trading Down 0.6%

NASDAQ:PNTG opened at $29.08 on Tuesday. The firm has a market capitalization of $1.01 billion, a P/E ratio of 38.77, a P/E/G ratio of 2.37 and a beta of 1.31. The business has a 50 day simple moving average of $25.52 and a 200 day simple moving average of $25.75. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.04 and a quick ratio of 1.04. The Pennant Group has a 12-month low of $21.18 and a 12-month high of $31.55.

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

Institutional Investors Weigh In On The Pennant Group

A number of institutional investors have recently added to or reduced their stakes in PNTG. Mackenzie Financial Corp increased its position in shares of The Pennant Group by 25.2% during the 1st quarter. Mackenzie Financial Corp now owns 22,446 shares of the company’s stock valued at $565,000 after purchasing an additional 4,522 shares during the period. XTX Topco Ltd acquired a new position in The Pennant Group during the first quarter worth about $285,000. Invesco Ltd. grew its holdings in The Pennant Group by 9.9% during the first quarter. Invesco Ltd. now owns 48,945 shares of the company’s stock worth $1,231,000 after acquiring an additional 4,425 shares during the period. Nuveen LLC bought a new stake in The Pennant Group in the first quarter worth about $9,181,000. Finally, Persistent Asset Partners Ltd lifted its holdings in The Pennant Group by 2.6% in the 1st quarter. Persistent Asset Partners Ltd now owns 169,209 shares of the company’s stock valued at $4,256,000 after acquiring an additional 4,217 shares during the last quarter. 85.88% of the stock is currently owned by institutional investors and hedge funds.

About The Pennant Group

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.