Oppenheimer Issues Positive Forecast for The Pennant Group (NASDAQ:PNTG) Stock Price

The Pennant Group (NASDAQ:PNTG) had its target price hoisted by Oppenheimer from $34.00 to $37.00 in a research note released on Friday,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other equities analysts have also issued reports on PNTG. Truist Financial upped their target price on The Pennant Group from $34.00 to $38.00 and gave the company a “hold” rating in a research report on Monday, October 7th. Royal Bank of Canada upped their price target on shares of The Pennant Group from $26.00 to $38.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Finally, Stephens restated an “overweight” rating and issued a $40.00 target price on shares of The Pennant Group in a research note on Wednesday, October 9th.

The Pennant Group Stock Up 4.4 %

Shares of NASDAQ PNTG traded up $1.42 during trading on Friday, reaching $33.42. 262,213 shares of the stock were exchanged, compared to its average volume of 198,817. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 49.15, a price-to-earnings-growth ratio of 3.41 and a beta of 2.02. The business’s 50-day moving average price is $33.80 and its 200 day moving average price is $28.37. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.48. The Pennant Group has a twelve month low of $11.95 and a twelve month high of $37.13.

The Pennant Group (NASDAQ:PNTG) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. The Pennant Group had a net margin of 3.24% and a return on equity of 14.02%. The company had revenue of $168.75 million during the quarter, compared to analysts’ expectations of $156.71 million. As a group, equities analysts forecast that The Pennant Group will post 0.75 EPS for the current fiscal year.

Hedge Funds Weigh In On The Pennant Group

Several institutional investors have recently modified their holdings of PNTG. Intech Investment Management LLC bought a new stake in The Pennant Group in the 3rd quarter valued at about $232,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of The Pennant Group during the third quarter worth approximately $363,000. Premier Fund Managers Ltd bought a new position in The Pennant Group in the 3rd quarter worth approximately $976,000. Summit Global Investments acquired a new stake in The Pennant Group in the 3rd quarter valued at approximately $254,000. Finally, Semanteon Capital Management LP raised its stake in The Pennant Group by 27.1% during the 3rd quarter. Semanteon Capital Management LP now owns 25,336 shares of the company’s stock valued at $904,000 after acquiring an additional 5,406 shares in the last quarter. Institutional investors own 85.88% of the company’s stock.

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.