Analysts Set The Pennant Group, Inc. (NASDAQ:PNTG) Price Target at $33.80

Key Points

• The Pennant Group, Inc. (NASDAQ:PNTG) has received an average recommendation of "Moderate Buy" from five research firms, with a price target averaging $33.80.
• Recent changes in analyst ratings include a downgrade from Truist Financial to "hold" with a price target of $28.00 and an upgrade from Wall Street Zen to "buy".
• Institutional investors own 85.88% of The Pennant Group, with FMR LLC increasing its holdings by 54.5% in the last quarter.

Shares of The Pennant Group, Inc. (NASDAQ:PNTG - Get Free Report) have received an average recommendation of "Moderate Buy" from the five ratings firms that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $33.80.

Several research firms recently issued reports on PNTG. Stephens restated an "overweight" rating and set a $35.00 price target on shares of The Pennant Group in a research report on Tuesday, June 10th. Wall Street Zen upgraded shares of The Pennant Group from a "hold" rating to a "buy" rating in a research note on Saturday. Wells Fargo & Company lifted their price target on shares of The Pennant Group from $30.00 to $31.00 and gave the stock an "equal weight" rating in a research note on Tuesday, June 3rd. Finally, Truist Financial reduced their price target on shares of The Pennant Group from $32.00 to $28.00 and set a "hold" rating for the company in a research note on Wednesday, July 16th.

The Pennant Group Price Performance

Shares of NASDAQ PNTG traded down $0.23 during midday trading on Friday, hitting $26.58. 59,327 shares of the company's stock were exchanged, compared to its average volume of 240,411. The company has a market cap of $918.43 million, a price-to-earnings ratio of 34.41, a PEG ratio of 2.22 and a beta of 1.48. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.11. The Pennant Group has a 12-month low of $21.18 and a 12-month high of $37.13. The business's fifty day moving average price is $25.94 and its two-hundred day moving average price is $26.00.

Insider Transactions at The Pennant Group

In related news, Director Joanne Stringfield sold 5,000 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $29.47, for a total value of $147,350.00. Following the completion of the sale, the director directly owned 30,275 shares of the company's stock, valued at approximately $892,204.25. This represents a 14.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 5.40% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. NBC Securities Inc. purchased a new position in The Pennant Group in the 1st quarter worth approximately $25,000. Turtle Creek Asset Management Inc. grew its holdings in The Pennant Group by 150.0% during the 4th quarter. Turtle Creek Asset Management Inc. now owns 2,500 shares of the company's stock valued at $66,000 after buying an additional 1,500 shares in the last quarter. Quarry LP grew its holdings in The Pennant Group by 166.8% during the 4th quarter. Quarry LP now owns 2,705 shares of the company's stock valued at $72,000 after buying an additional 1,691 shares in the last quarter. Summit Investment Advisors Inc. grew its holdings in The Pennant Group by 20.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,414 shares of the company's stock valued at $91,000 after buying an additional 575 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado purchased a new position in The Pennant Group during the 4th quarter valued at approximately $122,000. 85.88% of the stock is owned by hedge funds and other institutional investors.

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.