Truist Financial Issues Positive Forecast for The Pennant Group (NASDAQ:PNTG) Stock Price

Key Points

• Truist Financial raised its price target on The Pennant Group to $48 from $42 and kept a Buy rating, implying about 21.6% upside from the current share price.
• Other analysts have also turned more positive on the stock, including Wells Fargo and Royal Bank of Canada, and the broader consensus now stands at a Moderate Buy with an average target price of $41.
• The Pennant Group recently beat earnings expectations, reporting $0.32 EPS versus $0.31 expected and revenue of $285.36 million; the stock opened at $39.47 and was down about 1% on the day.

The Pennant Group (NASDAQ:PNTG - Get Free Report) had its price target hoisted by stock analysts at Truist Financial from $42.00 to $48.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Truist Financial's price target suggests a potential upside of 21.61% from the company's current price.

Other analysts also recently issued reports about the company. Wells Fargo & Company increased their target price on The Pennant Group from $41.00 to $45.00 and gave the company an "overweight" rating in a research note on Monday. Royal Bank Of Canada boosted their target price on The Pennant Group from $41.00 to $42.00 and gave the stock an "outperform" rating in a research report on Friday, May 8th. 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. Finally, 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. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $41.00.

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The Pennant Group Stock Down 1.0%

PNTG stock opened at $39.47 on Tuesday. 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 Pennant Group has a fifty-two week low of $21.73 and a fifty-two week high of $41.67. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 47.17, a price-to-earnings-growth ratio of 2.72 and a beta of 1.25. The business's 50 day moving average price is $34.90 and its two-hundred day moving average price is $32.14.

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 analysts' consensus estimates 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. As a group, analysts forecast that The Pennant Group will post 1.14 earnings per share for the current fiscal year.

Institutional Trading of The Pennant Group

Large investors have recently added to or reduced their stakes in the business. Wasatch Advisors LP grew its position in shares of The Pennant Group by 31.8% during the 2nd quarter. Wasatch Advisors LP now owns 1,870,178 shares of the company's stock valued at $69,103,000 after acquiring an additional 451,491 shares during the period. GAMMA Investing LLC grew its stake in shares of The Pennant Group by 34.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,568 shares of the company's stock valued at $58,000 after acquiring an additional 403 shares during the period. Parallel Advisors LLC grew its stake 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 acquiring an additional 1,258 shares during the period. Turtle Creek Asset Management Inc. increased its holdings in The Pennant Group by 12,075.6% in the 1st quarter. Turtle Creek Asset Management Inc. now owns 1,582,823 shares of the company's stock worth $48,244,000 after acquiring an additional 1,569,823 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in The Pennant Group by 5.6% in the 1st quarter. Bank of America Corp DE now owns 113,840 shares of the company's stock worth $3,470,000 after acquiring an additional 5,991 shares in the last quarter. 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.

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