The Pennant Group, Inc. (NASDAQ:PNTG) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• The Pennant Group has a consensus analyst rating of “Moderate Buy” from eight brokerages, with six Buy ratings and two Holds. The average 12-month price target is $41.00.
• Several firms recently lifted their outlook on the stock, including Wells Fargo, Truist, and RBC, which all raised price targets and maintained positive ratings. One notable exception was Weiss Ratings, which downgraded the stock from Buy to Hold.
• The company reported better-than-expected Q1 results, earning $0.32 per share on revenue of $285.36 million, both slightly above estimates. Shares recently traded near their 52-week high of $42.55, reflecting strong recent performance.

The Pennant Group, Inc. (NASDAQ:PNTG - Get Free Report) has been given an average rating of "Moderate Buy" by the eight ratings firms that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $41.00.

A number of brokerages recently issued reports on PNTG. Wall Street Zen upgraded The Pennant Group from a "hold" rating to a "buy" rating in a research note on Saturday, June 20th. Wells Fargo & Company increased their target price on shares of The Pennant Group from $41.00 to $45.00 and gave the stock an "overweight" rating in a research report on Monday, July 13th. Truist Financial lifted their target price on shares of The Pennant Group from $42.00 to $48.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Royal Bank Of Canada boosted their price target on shares of The Pennant Group from $41.00 to $42.00 and gave the company an "outperform" rating in a research report on Friday, May 8th. Finally, Weiss Ratings cut shares of The Pennant Group from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday.

The Pennant Group Stock Performance

Shares of PNTG stock opened at $41.16 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.19 and a current ratio of 1.19. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of 48.42, a P/E/G ratio of 2.67 and a beta of 1.25. The Pennant Group has a 52 week low of $21.73 and a 52 week high of $42.55. The firm's 50-day simple moving average is $35.98 and its two-hundred day simple moving average is $32.87.

The Pennant Group (NASDAQ:PNTG - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.31 by $0.01. The business had revenue of $285.36 million for the quarter, compared to the consensus estimate of $280.75 million. The Pennant Group had a return on equity of 10.07% and a net margin of 2.96%. As a group, equities analysts forecast that The Pennant Group will post 1.14 earnings per share for the current year.

Hedge Funds Weigh In On The Pennant Group

A number of large investors have recently made changes to their positions in PNTG. JPMorgan Chase & Co. boosted its stake in The Pennant Group by 288.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 130,721 shares of the company's stock worth $3,297,000 after purchasing an additional 97,061 shares during the period. Tudor Investment Corp ET AL increased its position in shares of The Pennant Group by 317.4% during the third quarter. Tudor Investment Corp ET AL now owns 207,220 shares of the company's stock valued at $5,226,000 after buying an additional 157,574 shares during the period. Vanguard Group Inc. lifted its holdings in shares of The Pennant Group by 4.2% in the fourth quarter. Vanguard Group Inc. now owns 2,049,968 shares of the company's stock worth $57,707,000 after buying an additional 82,071 shares in the last quarter. Rice Hall James & Associates LLC lifted its holdings in shares of The Pennant Group by 14.2% in the fourth quarter. Rice Hall James & Associates LLC now owns 257,510 shares of the company's stock worth $7,249,000 after buying an additional 31,932 shares in the last quarter. Finally, Wasatch Advisors LP boosted its position in shares of The Pennant Group by 143.2% in the first quarter. Wasatch Advisors LP now owns 1,418,687 shares of the company's stock valued at $43,242,000 after acquiring an additional 835,227 shares during the period. 85.88% of the stock is owned by institutional investors.

The Pennant Group Company Profile

The Pennant Group NASDAQ: PNTG is a publicly traded holding company that provides specialized services to the asset management industry. Through its operating subsidiaries, the company delivers outsourced fund administration, securities lending, prime brokerage, and capital markets solutions designed to support hedge funds, private equity firms, mutual funds and other institutional investors. By leveraging a combination of technology platforms and industry expertise, The Pennant Group helps clients streamline middle- and back-office processes, enhance operational efficiency and manage regulatory requirements.

Key service offerings include fund accounting and reporting, trade settlement and reconciliation, risk monitoring, securities lending programs and execution support across a range of asset classes.

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