The Pennant Group, Inc. (NASDAQ:PNTG) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of The Pennant Group, Inc. (NASDAQ:PNTG) have earned an average rating of “Moderate Buy” from the eight ratings firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $39.00.

A number of research firms recently issued reports on PNTG. Wall Street Zen upgraded The Pennant Group from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Truist Financial increased their price objective on The Pennant Group from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Wells Fargo & Company increased their price objective on The Pennant Group from $38.00 to $41.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Royal Bank Of Canada increased their price objective on The Pennant Group from $41.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Finally, Weiss Ratings upgraded The Pennant Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 22nd.

The Pennant Group Stock Down 0.8%

NASDAQ:PNTG opened at $30.12 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.19 and a current ratio of 1.19. The company has a market cap of $1.05 billion, a PE ratio of 35.44, a PEG ratio of 2.04 and a beta of 1.29. The Pennant Group has a 52-week low of $21.73 and a 52-week high of $37.54. The stock has a 50-day simple moving average of $32.04 and a 200 day simple moving average of $30.75.

The Pennant Group (NASDAQ:PNTG) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The business had revenue of $285.36 million during the quarter, compared to the consensus estimate of $280.75 million. The Pennant Group had a return on equity of 10.07% and a net margin of 2.96%. On average, sell-side analysts expect that The Pennant Group will post 1.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PNTG. Turtle Creek Asset Management Inc. grew its stake in The Pennant Group by 12,075.6% in the first 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 in the last quarter. Wasatch Advisors LP grew its stake in The Pennant Group by 143.2% in the first quarter. Wasatch Advisors LP now owns 1,418,687 shares of the company’s stock valued at $43,242,000 after purchasing an additional 835,227 shares in the last quarter. Ameriprise Financial Inc. bought a new position in The Pennant Group in the second quarter valued at approximately $14,356,000. Provident Investment Management Inc. grew its stake in The Pennant Group by 161.0% in the fourth quarter. Provident Investment Management Inc. now owns 691,862 shares of the company’s stock valued at $19,476,000 after purchasing an additional 426,797 shares in the last quarter. Finally, Loomis Sayles & Co. L P bought a new position in The Pennant Group in the fourth quarter valued at approximately $11,023,000. 85.88% of the stock is currently owned by 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.