The Pennant Group (NASDAQ:PNTG) Price Target Raised to $37.00 at Oppenheimer

The Pennant Group (NASDAQ:PNTG - Free Report) had its price objective upped by Oppenheimer from $34.00 to $37.00 in a research note published on Friday,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities research analysts have also weighed in on PNTG. Truist Financial upped their target price on shares of The Pennant Group from $34.00 to $38.00 and gave the stock a "hold" rating in a report on Monday, October 7th. Royal Bank of Canada upped their price objective on shares of The Pennant Group from $26.00 to $38.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 23rd. Finally, Stephens reiterated 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 Performance

The Pennant Group stock traded up $1.42 during trading hours on Friday, reaching $33.42. 262,213 shares of the company were exchanged, compared to its average volume of 198,817. The Pennant Group has a 12 month low of $11.95 and a 12 month high of $37.13. 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 stock has a 50-day moving average of $33.80 and a 200 day moving average of $28.37. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 49.15, a PEG ratio of 3.41 and a beta of 2.02.

The Pennant Group (NASDAQ:PNTG - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $168.75 million during the quarter, compared to the consensus estimate of $156.71 million. As a group, research analysts anticipate that The Pennant Group will post 0.75 earnings per share for the current year.

Institutional Trading of The Pennant Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. 8 Knots Management LLC grew its position in shares of The Pennant Group by 34.0% in the 1st quarter. 8 Knots Management LLC now owns 2,462,553 shares of the company's stock valued at $48,340,000 after acquiring an additional 625,061 shares during the period. Sei Investments Co. raised its stake in The Pennant Group by 679.7% in the first 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 during the period. Grandeur Peak Global Advisors LLC acquired a new stake in shares of The Pennant Group in the first quarter valued at approximately $2,225,000. Vanguard Group Inc. boosted its stake in shares of The Pennant Group by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 1,859,679 shares of the company's stock worth $36,505,000 after acquiring an additional 77,052 shares during the period. Finally, Federated Hermes Inc. lifted its holdings in The Pennant Group by 600.0% during the 2nd quarter. Federated Hermes Inc. now owns 54,045 shares of the company's stock valued at $1,253,000 after purchasing an additional 46,324 shares during the last quarter. Institutional investors and hedge funds 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.