The Pennant Group (NASDAQ:PNTG) Shares Gap Up After Analyst Upgrade

The Pennant Group, Inc. (NASDAQ:PNTG)’s share price gapped up prior to trading on Tuesday after Truist Financial upgraded the stock from a hold rating to a buy rating. The stock had previously closed at $28.40, but opened at $29.58. Truist Financial now has a $34.00 price target on the stock. The Pennant Group shares last traded at $29.6690, with a volume of 65,953 shares.

A number of other equities analysts also recently weighed in on the stock. Wall Street Zen raised shares of The Pennant Group from a “hold” rating to a “buy” rating in a research note on Monday, November 24th. Wells Fargo & Company raised The Pennant Group from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $29.00 to $31.00 in a research note on Tuesday, November 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of The Pennant Group in a report on Monday, November 24th. Jefferies Financial Group started coverage on The Pennant Group in a report on Friday, October 24th. They issued a “buy” rating and a $30.00 price objective on the stock. Finally, Stephens reaffirmed an “overweight” rating and set a $40.00 price objective 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 assigned a Hold rating to the company’s stock. According to MarketBeat.com, The Pennant Group currently has a consensus rating of “Buy” and an average target price of $34.80.

Hedge Funds Weigh In On The Pennant Group

A number of institutional investors have recently modified their holdings of the company. CIBC Private Wealth Group LLC lifted its stake in shares of The Pennant Group by 651.8% in the third quarter. CIBC Private Wealth Group LLC now owns 3,398 shares of the company’s stock worth $86,000 after buying an additional 2,946 shares during the last quarter. Provident Investment Management Inc. acquired a new position in The Pennant Group during the 3rd quarter worth $6,685,000. Dark Forest Capital Management LP acquired a new position in The Pennant Group during the 3rd quarter worth $1,173,000. PharVision Advisers LLC bought a new stake in The Pennant Group during the third quarter valued at about $222,000. Finally, Turtle Creek Asset Management Inc. grew its position in shares of The Pennant Group by 84.6% in the third quarter. Turtle Creek Asset Management Inc. now owns 12,000 shares of the company’s stock valued at $303,000 after purchasing an additional 5,500 shares during the last quarter. Institutional investors own 85.88% of the company’s stock.

The Pennant Group Stock Up 3.6%

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 firm has a market capitalization of $1.02 billion, a P/E ratio of 39.25, a price-to-earnings-growth ratio of 2.24 and a beta of 1.31. The business has a 50 day moving average price of $25.34 and a 200 day moving average price of $25.73.

The Pennant Group (NASDAQ:PNTG) last released 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 firm had revenue of $229.04 million for the quarter, compared to analyst estimates 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. On average, analysts predict that The Pennant Group, Inc. will post 0.75 earnings per share for the current year.

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.