The Pennant Group, Inc. (NASDAQ:PNTG) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• The Pennant Group, Inc. (NASDAQ:PNTG) has an average analyst rating of "Moderate Buy", with two hold recommendations and three buy recommendations.
• The average twelve-month target price set by analysts for The Pennant Group is $34.40, showing a positive outlook for the stock.
• Institutional investors have recently increased their stakes significantly, with Lazard Asset Management LLC raising their position by 539.0% in the second quarter.

Shares of The Pennant Group, Inc. (NASDAQ:PNTG - Get Free Report) have received a consensus rating of "Moderate Buy" from the five research firms that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $34.40.

A number of equities research analysts have recently commented on the stock. Stephens reaffirmed an "overweight" rating and issued a $40.00 target price on shares of The Pennant Group in a report on Thursday, September 4th. Wells Fargo & Company cut their price target on shares of The Pennant Group from $31.00 to $29.00 and set an "equal weight" rating for the company in a report on Thursday, August 14th. Truist Financial dropped their target price on shares of The Pennant Group from $32.00 to $28.00 and set a "hold" rating for the company in a report on Wednesday, July 16th. Finally, Wall Street Zen lowered shares of The Pennant Group from a "buy" rating to a "hold" rating in a research report on Friday.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Ranger Investment Management L.P. increased its stake in shares of The Pennant Group by 56.6% in the second quarter. Ranger Investment Management L.P. now owns 304,925 shares of the company's stock valued at $9,102,000 after purchasing an additional 110,175 shares during the period. CANADA LIFE ASSURANCE Co raised its position in shares of The Pennant Group by 31.5% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 13,361 shares of the company's stock worth $399,000 after buying an additional 3,197 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of The Pennant Group by 161.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,987 shares of the company's stock worth $119,000 after buying an additional 2,463 shares in the last quarter. Lazard Asset Management LLC raised its position in shares of The Pennant Group by 539.0% during the 2nd quarter. Lazard Asset Management LLC now owns 54,888 shares of the company's stock worth $1,637,000 after buying an additional 46,298 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of The Pennant Group by 21.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 97,286 shares of the company's stock worth $2,904,000 after buying an additional 17,324 shares in the last quarter. 85.88% of the stock is owned by institutional investors and hedge funds.

The Pennant Group Stock Performance

NASDAQ:PNTG opened at $25.40 on Friday. The company has a fifty day simple moving average of $24.29 and a two-hundred day simple moving average of $25.82. The company has a market cap of $877.82 million, a price-to-earnings ratio of 32.56, a price-to-earnings-growth ratio of 2.09 and a beta of 1.31. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.11. The Pennant Group has a 52 week low of $21.18 and a 52 week high of $36.20.

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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