The Pennant Group (NASDAQ:PNTG) Given New $38.00 Price Target at Royal Bank of Canada

The Pennant Group (NASDAQ:PNTG) had its target price boosted by Royal Bank of Canada from $26.00 to $38.00 in a report published on Wednesday morning, Benzinga reports. They currently have an outperform rating on the stock.

A number of other research analysts also recently issued reports on the company. Truist Financial boosted their price objective on The Pennant Group from $34.00 to $38.00 and gave the company a “hold” rating in a research note on Monday, October 7th. Stephens reissued an “overweight” rating and issued a $40.00 price target on shares of The Pennant Group in a research note on Wednesday, October 9th. Finally, Oppenheimer raised their price objective on shares of The Pennant Group from $28.00 to $34.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th.

The Pennant Group Stock Performance

Shares of PNTG stock opened at $34.15 on Wednesday. The stock has a market capitalization of $1.04 billion, a PE ratio of 54.21, a PEG ratio of 3.57 and a beta of 2.01. The business’s 50 day simple moving average is $33.86 and its 200 day simple moving average is $27.45. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.12 and a quick ratio of 1.12. The Pennant Group has a one year low of $10.46 and a one year high of $37.13.

The Pennant Group (NASDAQ:PNTG) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.02. The company had revenue of $168.75 million during the quarter, compared to analysts’ expectations of $156.71 million. The Pennant Group had a net margin of 3.16% and a return on equity of 13.74%. As a group, research analysts forecast that The Pennant Group will post 0.75 earnings per share for the current year.

Institutional Trading of The Pennant Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. 8 Knots Management LLC grew its stake in The Pennant Group by 34.0% in the first quarter. 8 Knots Management LLC now owns 2,462,553 shares of the company’s stock valued at $48,340,000 after acquiring an additional 625,061 shares during the period. Vanguard Group Inc. increased its stake in The Pennant Group by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 1,859,679 shares of the company’s stock valued at $36,505,000 after purchasing an additional 77,052 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in The Pennant Group by 2.1% during the second quarter. First Eagle Investment Management LLC now owns 391,748 shares of the company’s stock worth $9,085,000 after buying an additional 8,000 shares during the last quarter. Hillsdale Investment Management Inc. lifted its stake in shares of The Pennant Group by 8.2% in the first quarter. Hillsdale Investment Management Inc. now owns 352,292 shares of the company’s stock valued at $6,915,000 after buying an additional 26,670 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of The Pennant Group by 17.1% during the second quarter. Renaissance Technologies LLC now owns 267,300 shares of the company’s stock valued at $6,199,000 after buying an additional 39,000 shares during 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.