The Pennant Group (NASDAQ:PNTG) Hits New 1-Year High - What's Next?

Key Points

• Pennant Group shares hit a 52-week high, reaching $43.60 and trading up 7.1% after a prior close of $41.19.
• Analyst sentiment is broadly positive: five analysts rate the stock Buy and one rates it Hold, with a Moderate Buy consensus and $46 average price target.
• The company beat quarterly expectations, reporting $0.36 earnings per share versus $0.33 expected and revenue of $297.98 million versus $288.71 million expected.

The Pennant Group, Inc. (NASDAQ:PNTG - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday. The stock traded as high as $43.60 and last traded at $43.6060, with a volume of 64,956 shares. The stock had previously closed at $41.19.

Analyst Ratings Changes

A number of brokerages have weighed in on PNTG. Truist Financial boosted their target price on The Pennant Group from $42.00 to $48.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. Weiss Ratings raised shares of The Pennant Group from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, August 19th. Royal Bank Of Canada raised their target price on shares of The Pennant Group from $42.00 to $44.00 and gave the stock an "outperform" rating in a report on Thursday, August 20th. Finally, Wells Fargo & Company lifted their target price on shares of The Pennant Group from $45.00 to $46.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 11th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, The Pennant Group presently has an average rating of "Moderate Buy" and a consensus target price of $46.00.

The Pennant Group Trading Up 7.1%

The stock's 50-day simple moving average is $40.04 and its two-hundred day simple moving average is $35.53. 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 firm has a market capitalization of $1.54 billion, a P/E ratio of 49.02, a price-to-earnings-growth ratio of 2.64 and a beta of 1.33.

The Pennant Group (NASDAQ:PNTG - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.03. The Pennant Group had a net margin of 2.93% and a return on equity of 10.33%. The company had revenue of $297.98 million for the quarter, compared to analysts' expectations of $288.71 million. Equities research analysts expect that The Pennant Group, Inc. will post 1.18 EPS for the current year.

Institutional Trading of The Pennant Group

Several institutional investors have recently made changes to their positions in the business. Bank of America Corp DE bought a new stake in shares of The Pennant Group in the second quarter worth about $3,430,000. Legal & General Group Plc purchased a new stake in shares of The Pennant Group in the second quarter worth about $1,142,000. Grandeur Peak Global Advisors LLC bought a new position in The Pennant Group during the second quarter valued at approximately $6,644,000. Bank of New York Mellon Corp bought a new position in The Pennant Group during the second quarter valued at approximately $4,225,000. Finally, Manatuck Hill Partners LLC bought a new position in The Pennant Group during the second quarter valued at approximately $2,217,000. Hedge funds and other institutional investors own 85.88% of the company's stock.

The Pennant Group Company Profile

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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