Royal Bank of Canada Increases The Pennant Group (NASDAQ:PNTG) Price Target to $38.00

The Pennant Group (NASDAQ:PNTG) had its target price raised by Royal Bank of Canada from $26.00 to $38.00 in a report released on Wednesday, Benzinga reports. They currently have an outperform rating on the stock.

A number of other research analysts have also issued reports on the company. Oppenheimer boosted their price objective on The Pennant Group from $28.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Stephens restated an “overweight” rating and set a $40.00 price target on shares of The Pennant Group in a research report on Wednesday, October 9th. Finally, Truist Financial lifted their price objective on shares of The Pennant Group from $34.00 to $38.00 and gave the company a “hold” rating in a research report on Monday, October 7th.

The Pennant Group Stock Performance

PNTG stock opened at $33.53 on Wednesday. The stock’s 50 day simple moving average is $33.94 and its 200 day simple moving average is $27.63. The Pennant Group has a 12-month low of $10.46 and a 12-month high of $37.13. The firm has a market cap of $1.01 billion, a P/E ratio of 62.09, a P/E/G ratio of 3.42 and a beta of 2.01. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.48.

The Pennant Group (NASDAQ:PNTG) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.17 by $0.02. The business had revenue of $168.75 million during the quarter, compared to analyst estimates of $156.71 million. The Pennant Group had a net margin of 3.16% and a return on equity of 13.74%. As a group, equities research analysts predict that The Pennant Group will post 0.75 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Sei Investments Co. grew its position in The Pennant Group by 679.7% in the 1st quarter. Sei Investments Co. now owns 136,026 shares of the company’s stock valued at $2,670,000 after buying an additional 118,581 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in The Pennant Group by 292.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,738 shares of the company’s stock worth $504,000 after purchasing an additional 16,200 shares in the last quarter. Bailard Inc. acquired a new stake in The Pennant Group in the second quarter worth approximately $253,000. Principal Financial Group Inc. bought a new position in The Pennant Group during the 1st quarter valued at $197,000. Finally, ClariVest Asset Management LLC increased its position in shares of The Pennant Group by 14.9% during the 1st quarter. ClariVest Asset Management LLC now owns 87,850 shares of the company’s stock valued at $1,724,000 after purchasing an additional 11,359 shares during the period. 85.88% of the stock is owned by institutional investors and hedge funds.

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.