Oppenheimer Forecasts Strong Price Appreciation for The Pennant Group (NASDAQ:PNTG) Stock

The Pennant Group (NASDAQ:PNTG) had its price objective lifted by stock analysts at Oppenheimer from $47.00 to $50.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer‘s target price points to a potential upside of 36.82% from the stock’s previous close.

PNTG has been the topic of a number of other reports. Weiss Ratings upgraded shares of The Pennant Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 19th. Royal Bank Of Canada lifted their price target on shares of The Pennant Group from $42.00 to $44.00 and gave the company an “outperform” rating in a research note on Thursday, August 20th. Truist Financial lifted their price target on shares of The Pennant Group from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Finally, Wells Fargo & Company boosted their price target on The Pennant Group from $45.00 to $46.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, The Pennant Group presently has an average rating of “Moderate Buy” and an average price target of $47.00.

The Pennant Group Trading Down 17.0%

Shares of NASDAQ:PNTG traded down $7.50 on Thursday, hitting $36.55. 587,436 shares of the company’s stock were exchanged, compared to its average volume of 296,805. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 40.56, a price-to-earnings-growth ratio of 2.69 and a beta of 1.33. The Pennant Group has a 12 month low of $22.25 and a 12 month high of $44.24. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.20 and a quick ratio of 1.20. The business’s 50 day simple moving average is $40.15 and its two-hundred day simple moving average is $35.61.

The Pennant Group (NASDAQ:PNTG) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The Pennant Group had a return on equity of 10.33% and a net margin of 2.93%. The company had revenue of $302.25 million during the quarter, compared to the consensus estimate of $299.34 million. Analysts anticipate that The Pennant Group will post 1.18 EPS for the current fiscal year.

Hedge Funds Weigh In On The Pennant Group

Large investors have recently bought and sold shares of the business. Nykredit A S bought a new stake in The Pennant Group during the 2nd quarter valued at $29,000. Parallel Advisors LLC raised its position in shares of The Pennant Group by 1,186.8% in the 1st quarter. Parallel Advisors LLC now owns 1,364 shares of the company’s stock worth $42,000 after acquiring an additional 1,258 shares in the last quarter. Sterling Capital Management LLC raised its position in shares of The Pennant Group by 846.7% in the 3rd quarter. Sterling Capital Management LLC now owns 1,136 shares of the company’s stock worth $44,000 after acquiring an additional 1,016 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of The Pennant Group by 34.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,568 shares of the company’s stock worth $58,000 after purchasing an additional 403 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in shares of The Pennant Group by 45.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,413 shares of the company’s stock worth $133,000 after purchasing an additional 1,065 shares during the last quarter. Institutional investors own 85.88% of the company’s stock.

The Pennant Group Company Profile

The Pennant Group, Inc is a healthcare services company that operates home health, hospice and senior living businesses in the United States. Through its affiliated agencies and communities, the company provides skilled nursing, physical, occupational and speech therapy, personal care, hospice and palliative services, assisted living, and other support for older adults and individuals recovering from illness or injury.

Pennant’s home health and hospice operations serve patients in their homes and other residential settings, while its senior living segment operates communities that provide assisted living and related services.