The Pennant Group (NASDAQ:PNTG) Given New $50.00 Price Target at Oppenheimer

Key Points

• Oppenheimer raised its price target on The Pennant Group from $47 to $50 and maintained an “outperform” rating, implying 36.82% upside from the prior close.
• Analyst sentiment is broadly positive: six analysts rate PNTG a Buy and one a Hold, with a consensus “Moderate Buy” rating and a $47 average price target.
• Pennant reported quarterly EPS of $0.35, slightly below the $0.36 consensus, while revenue of $302.25 million exceeded expectations of $299.34 million.

The Pennant Group (NASDAQ:PNTG - Get Free Report) had its price target increased by equities research analysts at Oppenheimer from $47.00 to $50.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an "outperform" rating on the stock. Oppenheimer's price target would indicate a potential upside of 36.82% from the stock's previous close.

PNTG has been the subject of a number of other reports. Truist Financial upped their price target on shares of The Pennant Group from $42.00 to $48.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. Royal Bank Of Canada lifted their target price on shares of The Pennant Group from $42.00 to $44.00 and gave the company an "outperform" rating in a research note on Thursday, August 20th. Weiss Ratings upgraded shares of The Pennant Group from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, August 19th. Finally, Wells Fargo & Company upped their target price on shares of The Pennant Group from $45.00 to $46.00 and gave the stock an "overweight" rating in a report on Tuesday, August 11th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $47.00.

The Pennant Group Stock Performance

Shares of NASDAQ:PNTG traded down $7.50 during midday trading on Thursday, hitting $36.55. The company had a trading volume of 587,436 shares, compared to its average volume of 296,805. The Pennant Group has a 12-month low of $22.25 and a 12-month high of $44.24. The company has a fifty day moving average of $40.15 and a two-hundred day moving average of $35.61. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 40.56, a PEG ratio of 2.69 and a beta of 1.33. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.20 and a quick ratio of 1.20.

The Pennant Group (NASDAQ:PNTG - Get Free Report) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $0.35 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.01). The Pennant Group had a return on equity of 10.33% and a net margin of 2.93%. The company had revenue of $302.25 million during the quarter, compared to analysts' expectations of $299.34 million. On average, equities research analysts expect that The Pennant Group will post 1.18 EPS for the current fiscal year.

Institutional Investors Weigh In On The Pennant Group

A number of hedge funds have recently made changes to their positions in PNTG. BlackRock Inc. bought a new position in The Pennant Group during the 2nd quarter valued at about $109,340,000. Turtle Creek Asset Management Inc. lifted its stake in The Pennant Group by 12,075.6% in the first quarter. Turtle Creek Asset Management Inc. now owns 1,582,823 shares of the company's stock worth $48,244,000 after purchasing an additional 1,569,823 shares during the last quarter. Paradigm Capital Management Inc. NY bought a new stake in The Pennant Group in the second quarter worth about $51,833,000. Boone Capital Management LLC purchased a new position in shares of The Pennant Group during the second quarter valued at approximately $19,059,000. Finally, De Lisle Partners LLP purchased a new position in shares of The Pennant Group during the second quarter valued at approximately $18,755,000. 85.88% of the stock is currently owned by hedge funds and other institutional investors.

About The Pennant Group

The Pennant Group, Inc is a healthcare services company that operates home health, hospice and senior living businesses in the United States. Through its affiliated agencies and communities, the company provides skilled nursing, physical, occupational and speech therapy, personal care, hospice and palliative services, assisted living, and other support for older adults and individuals recovering from illness or injury.

Pennant's home health and hospice operations serve patients in their homes and other residential settings, while its senior living segment operates communities that provide assisted living and related services.

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