Stephens Reaffirms "Overweight" Rating for The Pennant Group (NASDAQ:PNTG)

The Pennant Group (NASDAQ:PNTG - Get Free Report)'s stock had its "overweight" rating reissued by analysts at Stephens in a research report issued on Tuesday,Benzinga reports. They currently have a $38.00 price objective on the stock. Stephens' target price indicates a potential upside of 66.23% from the company's current price.

A number of other brokerages also recently issued reports on PNTG. Truist Financial decreased their price target on The Pennant Group from $32.00 to $28.00 and set a "hold" rating for the company in a report on Friday. Wells Fargo & Company began coverage on shares of The Pennant Group in a report on Thursday, December 19th. They set an "equal weight" rating and a $33.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $34.80.

The Pennant Group Stock Performance

Shares of PNTG stock traded up $0.37 on Tuesday, hitting $22.86. The company had a trading volume of 34,628 shares, compared to its average volume of 210,288. The Pennant Group has a twelve month low of $18.21 and a twelve month high of $37.13. 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 firm has a market cap of $787.07 million, a P/E ratio of 33.64, a price-to-earnings-growth ratio of 2.24 and a beta of 2.06. The company has a 50-day moving average price of $26.11 and a 200-day moving average price of $30.14.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. grew its position in shares of The Pennant Group by 26.6% in the third quarter. Franklin Resources Inc. now owns 18,347 shares of the company's stock valued at $638,000 after purchasing an additional 3,859 shares during the period. JPMorgan Chase & Co. boosted its holdings in The Pennant Group by 68.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 205,922 shares of the company's stock worth $7,351,000 after buying an additional 83,664 shares during the last quarter. FMR LLC increased 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 worth $90,268,000 after buying an additional 856,838 shares in the last quarter. Barclays PLC lifted its position in shares of The Pennant Group by 375.0% in the third quarter. Barclays PLC now owns 49,101 shares of the company's stock valued at $1,753,000 after acquiring an additional 38,763 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of The Pennant Group in the third quarter worth approximately $685,000. Hedge funds and other institutional investors 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.

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