The Pennant Group (NASDAQ:PNTG) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of The Pennant Group (NASDAQ:PNTG) from a buy rating to a hold rating in a report released on Saturday morning,Wall Street Zen reports.

Several other brokerages also recently issued reports on PNTG. Truist Financial raised their price objective on shares of The Pennant Group from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Royal Bank Of Canada upped their target price on The Pennant Group from $44.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday. Weiss Ratings upgraded The Pennant Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 19th. Oppenheimer increased their target price on The Pennant Group from $47.00 to $50.00 and gave the stock an “outperform” rating in a research note on Thursday, November 5th. Finally, Wells Fargo & Company lifted their price target on The Pennant Group from $45.00 to $46.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $48.00.

The Pennant Group Price Performance

Shares of PNTG opened at $36.26 on Friday. The firm has a market capitalization of $1.27 billion, a PE ratio of 36.63, a PEG ratio of 2.87 and a beta of 1.33. The company’s 50-day moving average is $40.14 and its 200-day moving average is $35.73. The Pennant Group has a fifty-two week low of $24.21 and a fifty-two week 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 Pennant Group (NASDAQ:PNTG) last posted its earnings results on Wednesday, November 4th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The company had revenue of $302.25 million for the quarter, compared to analyst estimates of $299.34 million. The Pennant Group had a return on equity of 10.43% and a net margin of 3.05%. Equities analysts forecast that The Pennant Group will post 1.18 EPS for the current year.

Institutional Trading of The Pennant Group

Several hedge funds and other institutional investors have recently bought and sold shares of PNTG. IFG Advisory LLC acquired a new position in shares of The Pennant Group during the 3rd quarter worth approximately $383,000. Aberdeen Group plc acquired a new stake in shares of The Pennant Group in the third quarter valued at approximately $135,757,000. Bridge City Capital LLC raised its position in shares of The Pennant Group by 18.6% in the third quarter. Bridge City Capital LLC now owns 70,054 shares of the company’s stock valued at $2,732,000 after buying an additional 10,971 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of The Pennant Group in the third quarter valued at approximately $1,279,000. Finally, Sigma Planning Corp bought a new stake in shares of The Pennant Group in the third quarter valued at approximately $1,573,000. Institutional investors and hedge funds own 85.88% of the company’s stock.

About The Pennant Group

The Pennant Group, Inc provides healthcare and senior living services through independently operated subsidiaries. Its services include home health and hospice care for people in their homes, as well as senior living options such as assisted living and memory care.

Based in Eagle, Idaho, the company operates across multiple U.S. states, with a presence concentrated in the western part of the country. Its local operating teams provide care and support to patients, residents and their families.

Pennant became an independent publicly traded company in 2019 after separating from The Ensign Group.