The Pennant Group (NASDAQ:PNTG) Stock Price Down 8.7% - Time to Sell?

Key Points

• The Pennant Group shares fell 8.7% to about $36.52, with trading volume 155% above its daily average.
• Analysts maintain a “Moderate Buy” consensus and an average price target of $48; recent target increases ranged up to $50.
• Quarterly EPS of $0.35 narrowly missed the $0.36 estimate, while revenue of $302.25 million exceeded expectations of $299.34 million.

The Pennant Group, Inc. (NASDAQ:PNTG - Get Free Report)'s share price dropped 8.7% on Friday. The stock traded as low as $36.60 and last traded at $36.5210. Approximately 776,664 shares were traded during trading, an increase of 155% from the average daily volume of 304,323 shares. The stock had previously closed at $40.00.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PNTG. Wells Fargo & Company boosted their price objective on shares of The Pennant Group from $45.00 to $46.00 and gave the company an "overweight" rating in a research report on Tuesday, August 11th. Truist Financial raised their target price on The Pennant Group from $42.00 to $48.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. Royal Bank Of Canada lifted their target price on The Pennant Group from $44.00 to $48.00 and gave the company an "outperform" rating in a research report on Friday. Oppenheimer boosted their price target on The Pennant Group from $47.00 to $50.00 and gave the company an "outperform" rating in a report on Thursday. Finally, Weiss Ratings upgraded The Pennant Group from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, August 19th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $48.00.

The Pennant Group Trading Down 8.7%

The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.48. The stock has a fifty day simple moving average of $40.19 and a 200 day simple moving average of $35.66. The firm has a market capitalization of $1.28 billion, a P/E ratio of 36.99, a PEG ratio of 2.87 and a beta of 1.33.

The Pennant Group (NASDAQ:PNTG - Get Free Report) last released its earnings results on Wednesday, November 4th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.01). The business had revenue of $302.25 million for the quarter, compared to analysts' expectations of $299.34 million. The Pennant Group had a return on equity of 10.43% and a net margin of 3.05%. As a group, research analysts forecast that The Pennant Group, Inc. will post 1.18 EPS for the current year.

Institutional Investors Weigh In On The Pennant Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Nykredit A S purchased a new position in The Pennant Group in the second quarter worth about $29,000. Parallel Advisors LLC increased its stake in The Pennant Group by 1,186.8% during the first quarter. Parallel Advisors LLC now owns 1,364 shares of the company's stock worth $42,000 after acquiring an additional 1,258 shares during the last quarter. Sterling Capital Management LLC lifted its stake in shares of The Pennant Group by 846.7% in the 3rd quarter. Sterling Capital Management LLC now owns 1,136 shares of the company's stock valued at $44,000 after purchasing an additional 1,016 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of The Pennant Group by 34.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,568 shares of the company's stock worth $58,000 after purchasing an additional 403 shares during the period. Finally, Nisa Investment Advisors LLC boosted its stake in The Pennant Group by 45.4% during the third quarter. Nisa Investment Advisors LLC now owns 3,413 shares of the company's stock worth $133,000 after buying an additional 1,065 shares during the period. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.