The Pennant Group (NASDAQ:PNTG) Given New $41.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo raised its price target on The Pennant Group from $38 to $41 and maintained an "overweight" rating, implying roughly a 14.49% upside from the current stock price.
• Analyst consensus is a Moderate Buy (seven Buys, one Hold) with an average target of $37.60, while other firms like RBC and Weiss have also recently raised their targets and ratings.
• The company modestly beat the quarter estimates with $0.32 EPS vs. $0.31 expected and $285.36M revenue vs. $280.75M, and it trades with a market cap of about $1.25 billion and a P/E near 42.

The Pennant Group (NASDAQ:PNTG - Get Free Report) had its target price hoisted by equities research analysts at Wells Fargo & Company from $38.00 to $41.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's price target would suggest a potential upside of 14.49% from the company's current price.

A number of other analysts have also recently weighed in on PNTG. Wall Street Zen cut shares of The Pennant Group from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Royal Bank Of Canada boosted their target price on shares of The Pennant Group from $39.00 to $41.00 and gave the company an "outperform" rating in a research note on Monday, March 2nd. Truist Financial raised their price target on shares of The Pennant Group from $34.00 to $36.00 and gave the company a "buy" rating in a research note on Monday, April 13th. Zacks Research downgraded The Pennant Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 12th. Finally, Weiss Ratings raised The Pennant Group from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, March 2nd. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, The Pennant Group currently has an average rating of "Moderate Buy" and an average target price of $37.60.

The Pennant Group Price Performance

PNTG opened at $35.81 on Friday. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of 42.13, a PEG ratio of 2.22 and a beta of 1.28. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.45. The Pennant Group has a twelve month low of $21.73 and a twelve month high of $36.13. The company has a fifty day simple moving average of $31.60 and a 200 day simple moving average of $29.45.

The Pennant Group (NASDAQ:PNTG - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.01. The company had revenue of $285.36 million during the quarter, compared to the consensus estimate of $280.75 million. The Pennant Group had a net margin of 2.96% and a return on equity of 10.35%. Equities research analysts expect that The Pennant Group will post 1.13 EPS for the current fiscal year.

Hedge Funds Weigh In On The Pennant Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PNTG. Caitong International Asset Management Co. Ltd raised its stake in shares of The Pennant Group by 154.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,182 shares of the company's stock worth $33,000 after buying an additional 717 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of The Pennant Group by 1,186.8% during the 1st quarter. Parallel Advisors LLC now owns 1,364 shares of the company's stock valued at $42,000 after purchasing an additional 1,258 shares in the last quarter. Quarry LP acquired a new position in shares of The Pennant Group in the 3rd quarter worth approximately $37,000. State of Alaska Department of Revenue acquired a new stake in The Pennant Group during the third quarter valued at approximately $54,000. Finally, Quadrant Capital Group LLC lifted its stake in The Pennant Group by 608.7% during the fourth quarter. Quadrant Capital Group LLC now owns 3,182 shares of the company's stock valued at $90,000 after purchasing an additional 2,733 shares during the last quarter. 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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