Wells Fargo & Company Boosts The Pennant Group (NASDAQ:PNTG) Price Target to $45.00

Key Points

• Wells Fargo raised its price target on The Pennant Group to $45 from $41 and kept an overweight rating, implying about 10.2% upside from the prior close.
• Other analysts have also turned more positive on PNTG, with recent target hikes and upgrades leaving the stock with a consensus rating of Moderate Buy and an average price target of $39.80.
• The stock was trading near its 52-week high after a modest gain, and the company recently reported better-than-expected quarterly earnings and revenue.

The Pennant Group (NASDAQ:PNTG - Get Free Report) had its price target hoisted by equities researchers at Wells Fargo & Company from $41.00 to $45.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's price objective would suggest a potential upside of 10.19% from the stock's previous close.

Several other equities research analysts have also recently issued reports on PNTG. Royal Bank Of Canada boosted their price target 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. Weiss Ratings upgraded The Pennant Group from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, July 1st. Wall Street Zen raised The Pennant Group from a "hold" rating to a "buy" rating in a report on Saturday, June 20th. Finally, Truist Financial upped their target price on The Pennant Group from $36.00 to $42.00 and gave the company a "buy" rating in a research report on Friday, May 8th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $39.80.

The Pennant Group Stock Performance

NASDAQ PNTG traded up $0.34 on Monday, reaching $40.84. The stock had a trading volume of 18,192 shares, compared to its average volume of 285,844. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.19 and a quick ratio of 1.19. The company has a market cap of $1.42 billion, a P/E ratio of 48.32, a price-to-earnings-growth ratio of 2.72 and a beta of 1.25. The firm has a fifty day moving average of $34.73 and a two-hundred day moving average of $32.06. The Pennant Group has a 1-year low of $21.73 and a 1-year high of $41.67.

The Pennant Group (NASDAQ:PNTG - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.32 earnings per share 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 business had revenue of $285.36 million during the quarter, compared to analysts' expectations of $280.75 million. On average, equities research analysts anticipate that The Pennant Group will post 1.14 EPS for the current year.

Hedge Funds Weigh In On The Pennant Group

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased 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 worth $57,707,000 after buying an additional 82,071 shares in the last quarter. Wasatch Advisors LP boosted its holdings 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 in the last quarter. Turtle Creek Asset Management Inc. boosted its holdings 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 acquiring an additional 1,569,823 shares in the last quarter. Ophir Asset Management Pty Ltd grew its position in 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 worth $37,351,000 after acquiring an additional 257,840 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in The Pennant Group by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 820,048 shares of the company's stock worth $23,089,000 after acquiring an additional 3,875 shares during the last quarter. 85.88% of the stock is currently owned by institutional investors and hedge funds.

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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