Truist Financial Forecasts Strong Price Appreciation for The Pennant Group (NASDAQ:PNTG) Stock

The Pennant Group (NASDAQ:PNTG - Get Free Report) had its price target hoisted by analysts at Truist Financial from $28.00 to $32.00 in a report issued on Monday,Benzinga reports. The firm currently has a "hold" rating on the stock. Truist Financial's price target would suggest a potential upside of 8.95% from the company's previous close.

Separately, Stephens reissued an "overweight" rating and set a $38.00 price objective on shares of The Pennant Group in a research report on Wednesday, April 2nd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, The Pennant Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $35.60.

The Pennant Group Trading Up 2.8%

Shares of NASDAQ:PNTG traded up $0.79 during midday trading on Monday, reaching $29.37. The company's stock had a trading volume of 115,952 shares, compared to its average volume of 225,928. The Pennant Group has a fifty-two week low of $21.18 and a fifty-two week high of $37.13. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a 50 day moving average price of $25.04 and a two-hundred day moving average price of $27.32. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 43.03, a PEG ratio of 2.24 and a beta of 1.56.

Institutional Trading of The Pennant Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PNTG. Franklin Resources Inc. raised its position in The Pennant Group by 26.6% in the 3rd quarter. Franklin Resources Inc. now owns 18,347 shares of the company's stock valued at $638,000 after buying an additional 3,859 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of The Pennant Group by 68.4% in the third quarter. JPMorgan Chase & Co. now owns 205,922 shares of the company's stock valued at $7,351,000 after purchasing an additional 83,664 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of The Pennant Group by 36.6% during the fourth quarter. SG Americas Securities LLC now owns 14,923 shares of the company's stock valued at $396,000 after purchasing an additional 3,997 shares in the last quarter. Rhumbline Advisers boosted its holdings in The Pennant Group by 6.0% during the fourth quarter. Rhumbline Advisers now owns 43,673 shares of the company's stock worth $1,158,000 after purchasing an additional 2,480 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in The Pennant Group by 10.9% in the 4th quarter. Principal Financial Group Inc. now owns 14,000 shares of the company's stock worth $371,000 after purchasing an additional 1,374 shares in the last quarter. 85.88% of the stock is owned by institutional investors.

About The Pennant Group

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.

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