The Pennant Group (NASDAQ:PNTG) Hits New 12-Month High - Time to Buy?

Key Points

• The Pennant Group hit a new 52-week high, trading as high as $42.47, reflecting strong recent momentum in the stock.
• Analyst sentiment is upbeat, with several recent upgrades and higher price targets; Truist lifted its target to $48 and the stock now has a Moderate Buy consensus rating.
• The company’s latest quarterly results beat expectations, posting $0.32 EPS on revenue of $285.36 million, while institutional ownership remains high at 85.88%.

Shares of The Pennant Group, Inc. (NASDAQ:PNTG - Get Free Report) reached a new 52-week high during trading on Monday . The company traded as high as $42.47 and last traded at $42.3430, with a volume of 259773 shares. The stock had previously closed at $41.95.

Analysts Set New Price Targets

PNTG has been the topic of a number of research analyst reports. Truist Financial increased their price target on shares of The Pennant Group from $42.00 to $48.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. Weiss Ratings raised shares of The Pennant Group from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, July 1st. Wall Street Zen upgraded shares of The Pennant Group from a "hold" rating to a "buy" rating in a research report on Saturday, June 20th. Royal Bank Of Canada increased their target price on The Pennant Group from $41.00 to $42.00 and gave the company an "outperform" rating in a research note on Friday, May 8th. Finally, Wells Fargo & Company raised their price target on The Pennant Group from $41.00 to $45.00 and gave the company an "overweight" rating in a research report on Monday, July 13th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, The Pennant Group currently has a consensus rating of "Moderate Buy" and an average target price of $41.00.

The Pennant Group Price Performance

The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.42. The business's 50-day simple moving average is $35.45 and its 200 day simple moving average is $32.46. The firm has a market capitalization of $1.47 billion, a P/E ratio of 49.38, a PEG ratio of 2.82 and a beta of 1.25.

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

Institutional Investors Weigh In On The Pennant Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of The Pennant Group by 4.2% during the fourth quarter. Vanguard Group Inc. now owns 2,049,968 shares of the company's stock valued at $57,707,000 after acquiring an additional 82,071 shares in the last quarter. Wasatch Advisors LP lifted its position in shares of The Pennant Group by 31.8% in the 2nd quarter. Wasatch Advisors LP now owns 1,870,178 shares of the company's stock worth $69,103,000 after purchasing an additional 451,491 shares during the period. Turtle Creek Asset Management Inc. boosted its stake in shares of The Pennant Group by 12,075.6% during the 1st quarter. Turtle Creek Asset Management Inc. now owns 1,582,823 shares of the company's stock valued at $48,244,000 after purchasing an additional 1,569,823 shares in the last quarter. Ophir Asset Management Pty Ltd boosted its stake in shares of The Pennant Group by 24.1% during the 4th quarter. Ophir Asset Management Pty Ltd now owns 1,326,850 shares of the company's stock valued at $37,351,000 after purchasing an additional 257,840 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of The Pennant Group by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 820,048 shares of the company's stock valued at $23,089,000 after buying an additional 3,875 shares during the period. 85.88% of the stock is currently 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.

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.