The Pennant Group (NASDAQ:PNTG) Price Target Raised to $42.00 at Truist Financial

Key Points

• Truist Financial raised its price target on The Pennant Group from $36.00 to $42.00 and kept a "buy" rating, implying about a 17.7% upside; other firms including RBC and Wells Fargo also raised targets and the consensus rating is "Moderate Buy" with a $39.00 consensus target.
• The company posted an EPS beat last quarter with $0.32 vs. $0.31 expected and revenue of $285.36 million vs. $280.75 million, and analysts project about $1.13 in EPS for the current fiscal year.
• Shares traded at $35.69 (down 0.1%) with a market cap of $1.25 billion and a P/E of 42.00, a 1‑year range of $21.73–$37.54, and high institutional ownership of 85.88%.

The Pennant Group (NASDAQ:PNTG - Get Free Report) had its price objective upped by investment analysts at Truist Financial from $36.00 to $42.00 in a report released on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. Truist Financial's price objective points to a potential upside of 17.68% from the company's previous close.

Several other brokerages also recently weighed in on PNTG. Royal Bank Of Canada raised their price target on The Pennant Group from $41.00 to $42.00 and gave the company an "outperform" rating in a report on Friday. Zacks Research downgraded shares of The Pennant Group from a "strong-buy" rating to a "hold" rating in a report on Monday, January 12th. Wall Street Zen lowered The Pennant Group from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. Weiss Ratings upgraded The Pennant Group from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, March 2nd. Finally, Wells Fargo & Company raised their price objective on shares of The Pennant Group from $38.00 to $41.00 and gave the stock an "overweight" rating in a research note on Friday. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $39.00.

The Pennant Group Stock Down 0.1%

Shares of The Pennant Group stock traded down $0.04 during trading on Friday, reaching $35.69. 181,633 shares of the company traded hands, compared to its average volume of 274,614. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.14 and a quick ratio of 1.14. The company has a 50 day moving average price of $31.60 and a 200-day moving average price of $29.45. The firm has a market capitalization of $1.25 billion, a PE ratio of 42.00, a P/E/G ratio of 2.22 and a beta of 1.28. The Pennant Group has a 1-year low of $21.73 and a 1-year high of $37.54.

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

Hedge Funds Weigh In On The Pennant Group

Institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC grew its stake in shares of The Pennant Group by 3.9% during the 4th quarter. SG Americas Securities LLC now owns 15,926 shares of the company's stock worth $448,000 after purchasing an additional 600 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings in The Pennant Group by 154.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,182 shares of the company's stock worth $33,000 after purchasing an additional 717 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of The Pennant Group by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,394 shares of the company's stock worth $488,000 after purchasing an additional 857 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of The Pennant Group by 1,186.8% in the first 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 during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of The Pennant Group by 11.3% in the second quarter. The Manufacturers Life Insurance Company now owns 12,400 shares of the company's stock worth $370,000 after acquiring an additional 1,263 shares during the last quarter. Institutional investors and hedge funds own 85.88% of the company's stock.

About The Pennant Group

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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