The Pennant Group (NASDAQ:PNTG) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of The Pennant Group (NASDAQ:PNTG) from a sell rating to a hold rating in a research report sent to investors on Wednesday, Zacks.com reports.

According to Zacks, “The Pennant Group Inc. through subsidiaries offers home health, hospice and senior living services. It operates primarily in Arizona, California, Colorado, Idaho, Iowa, Nevada, Oklahoma, Oregon, Texas, Utah, Washington, Wisconsin and Wyoming. The Pennant Group Inc. is based in Eagle, United States. “

Several other research analysts have also recently commented on PNTG. Stifel Nicolaus began coverage on shares of The Pennant Group in a report on Monday, September 20th. They set a buy rating and a $37.00 target price for the company. Truist cut their price target on shares of The Pennant Group from $44.00 to $35.00 and set a hold rating for the company in a research note on Wednesday, August 11th. Royal Bank of Canada dropped their price objective on shares of The Pennant Group from $50.00 to $44.00 and set an outperform rating on the stock in a research report on Wednesday, August 11th. Finally, Truist Securities lowered their price target on shares of The Pennant Group from $44.00 to $35.00 and set a hold rating on the stock in a research report on Wednesday, August 11th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $44.50.

Shares of The Pennant Group stock opened at $24.21 on Wednesday. The firm has a market cap of $686.64 million, a P/E ratio of 60.53 and a beta of 2.60. The Pennant Group has a twelve month low of $22.63 and a twelve month high of $69.56. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.89 and a current ratio of 0.89. The firm’s 50-day simple moving average is $29.41 and its 200-day simple moving average is $35.46.

The Pennant Group (NASDAQ:PNTG) last posted its quarterly earnings results on Monday, August 9th. The company reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.03. The Pennant Group had a net margin of 2.85% and a return on equity of 17.47%. The business had revenue of $110.35 million during the quarter, compared to the consensus estimate of $107.50 million. On average, equities analysts forecast that The Pennant Group will post 0.66 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Captrust Financial Advisors boosted its holdings in shares of The Pennant Group by 1,696.7% in the 1st quarter. Captrust Financial Advisors now owns 539 shares of the company’s stock worth $25,000 after buying an additional 509 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of The Pennant Group during the first quarter valued at about $28,000. Sageworth Trust Co bought a new stake in shares of The Pennant Group during the first quarter valued at about $69,000. Fifth Third Bancorp increased its position in shares of The Pennant Group by 55.6% in the second quarter. Fifth Third Bancorp now owns 1,922 shares of the company’s stock worth $79,000 after purchasing an additional 687 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of The Pennant Group in the first quarter worth approximately $158,000. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

About The Pennant Group

The Pennant Group, Inc provides healthcare services in Arizona, California, Colorado, Idaho, Iowa, Montana, Nevada, Oklahoma, Oregon, Texas, Utah, Washington, Wisconsin, and Wyoming. 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.

Featured Story: S&P/ASX 200 Index

Get a free copy of the Zacks research report on The Pennant Group (PNTG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for The Pennant Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Pennant Group and related companies with MarketBeat.com's FREE daily email newsletter.