Wall Street Zen Downgrades The Pennant Group (NASDAQ:PNTG) to Hold

Key Points

• Wall Street Zen has downgraded The Pennant Group (NASDAQ:PNTG) from a "buy" rating to a "hold" rating, signaling a shift in analyst sentiment.
• Wells Fargo lowered its target price from $31.00 to $29.00, while Truist Financial reduced its price objective from $32.00 to $28.00, both maintaining a "hold" rating.
• The stock currently has an average target price of $34.40 and has experienced a trading range over the past year between $21.18 and $36.20.

The Pennant Group (NASDAQ:PNTG - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Friday.

Several other research analysts also recently commented on PNTG. Wells Fargo & Company reduced their target price on The Pennant Group from $31.00 to $29.00 and set an "equal weight" rating on the stock in a report on Thursday, August 14th. Stephens reissued an "overweight" rating and issued a $40.00 target price on shares of The Pennant Group in a report on Thursday, September 4th. Finally, Truist Financial reduced their price objective on The Pennant Group from $32.00 to $28.00 and set a "hold" rating on the stock in a report on Wednesday, July 16th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $34.40.

The Pennant Group Price Performance

NASDAQ PNTG traded up $0.85 during trading on Friday, reaching $25.40. 229,464 shares of the company traded hands, compared to its average volume of 313,184. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.21 and a current ratio of 1.21. The stock's 50 day moving average price is $24.29 and its two-hundred day moving average price is $25.80. The company has a market cap of $877.82 million, a price-to-earnings ratio of 32.56, a P/E/G ratio of 2.02 and a beta of 1.31. The Pennant Group has a 1-year low of $21.18 and a 1-year high of $36.20.

Institutional Trading of The Pennant Group

Several institutional investors and hedge funds have recently made changes to their positions in the business. Versor Investments LP raised its position in shares of The Pennant Group by 6.2% during the 1st quarter. Versor Investments LP now owns 12,000 shares of the company's stock valued at $302,000 after acquiring an additional 700 shares during the last quarter. Quantum Portfolio Management LLC raised its position in shares of The Pennant Group by 4.7% during the 2nd quarter. Quantum Portfolio Management LLC now owns 16,049 shares of the company's stock valued at $479,000 after acquiring an additional 721 shares during the last quarter. Intech Investment Management LLC raised its position in shares of The Pennant Group by 4.8% during the 2nd quarter. Intech Investment Management LLC now owns 17,800 shares of the company's stock valued at $531,000 after acquiring an additional 822 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of The Pennant Group by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,394 shares of the company's stock valued at $488,000 after acquiring an additional 857 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey raised its position in shares of The Pennant Group by 13.7% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 7,922 shares of the company's stock valued at $236,000 after acquiring an additional 953 shares during the last quarter. Institutional investors own 85.88% of the company's stock.

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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