The Pennant Group (NASDAQ:PNTG) Price Target Cut to $32.00 by Analysts at Truist Financial

The Pennant Group (NASDAQ:PNTG) had its price target cut by equities research analysts at Truist Financial from $38.00 to $32.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s price objective suggests a potential upside of 21.49% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. Oppenheimer raised their price target on shares of The Pennant Group from $34.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Wells Fargo & Company assumed coverage on The Pennant Group in a research note on Thursday, December 19th. They issued an “equal weight” rating and a $33.00 target price for the company. Stephens reaffirmed an “overweight” rating and set a $40.00 price target on shares of The Pennant Group in a research note on Wednesday, October 9th. Finally, Royal Bank of Canada raised their price objective on The Pennant Group from $26.00 to $38.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $36.00.

The Pennant Group Stock Performance

NASDAQ:PNTG opened at $26.34 on Monday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.58. The Pennant Group has a twelve month low of $14.77 and a twelve month high of $37.13. The company has a fifty day moving average of $29.96 and a 200-day moving average of $30.61. The firm has a market capitalization of $904.73 million, a P/E ratio of 38.74, a P/E/G ratio of 2.99 and a beta of 1.93.

Institutional Investors Weigh In On The Pennant Group

Institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC boosted its stake in The Pennant Group by 51.3% during the 3rd quarter. FMR LLC now owns 2,528,512 shares of the company’s stock valued at $90,268,000 after purchasing an additional 856,838 shares during the last quarter. Crewe Advisors LLC boosted its position in shares of The Pennant Group by 1.6% during the third quarter. Crewe Advisors LLC now owns 742,958 shares of the company’s stock valued at $26,524,000 after buying an additional 11,927 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of The Pennant Group by 0.4% during the third quarter. Geode Capital Management LLC now owns 682,132 shares of the company’s stock valued at $24,357,000 after buying an additional 2,963 shares during the last quarter. First Eagle Investment Management LLC grew its holdings in The Pennant Group by 2.1% during the second quarter. First Eagle Investment Management LLC now owns 391,748 shares of the company’s stock worth $9,085,000 after buying an additional 8,000 shares in the last quarter. Finally, De Lisle Partners LLP raised its position in The Pennant Group by 7.6% in the 3rd quarter. De Lisle Partners LLP now owns 343,340 shares of the company’s stock valued at $12,254,000 after buying an additional 24,321 shares during the last quarter. Institutional investors and hedge funds own 85.88% of the company’s stock.

The Pennant Group Company Profile

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.