Truist Financial Has Lowered Expectations for The Pennant Group (NASDAQ:PNTG) Stock Price

The Pennant Group (NASDAQ:PNTG) had its target price decreased by analysts at Truist Financial from $38.00 to $32.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price objective indicates a potential upside of 21.49% from the company’s current price.

A number of other research firms have also recently issued reports on PNTG. Royal Bank of Canada upped their price objective on shares of The Pennant Group from $26.00 to $38.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Stephens reiterated an “overweight” rating and set a $40.00 price target on shares of The Pennant Group in a report on Wednesday, October 9th. Wells Fargo & Company assumed coverage on The Pennant Group in a report on Thursday, December 19th. They set an “equal weight” rating and a $33.00 price objective on the stock. Finally, Oppenheimer upped their target price on The Pennant Group from $34.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $36.00.

The Pennant Group Stock Performance

The Pennant Group stock opened at $26.34 on Monday. The stock has a market cap of $904.73 million, a PE ratio of 38.74, a P/E/G ratio of 2.99 and a beta of 1.93. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.58. The Pennant Group has a 12-month low of $14.77 and a 12-month high of $37.13. The business’s 50-day moving average price is $29.96 and its two-hundred day moving average price is $30.61.

Institutional Trading of The Pennant Group

Institutional investors have recently modified their holdings of the business. Kings Path Partners LLC raised its position in The Pennant Group by 152.9% during the 4th quarter. Kings Path Partners LLC now owns 19,610 shares of the company’s stock worth $520,000 after purchasing an additional 11,855 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of The Pennant Group by 68.4% in the third quarter. JPMorgan Chase & Co. now owns 205,922 shares of the company’s stock valued at $7,351,000 after buying an additional 83,664 shares during the period. Principal Financial Group Inc. raised its position in shares of The Pennant Group by 14.5% during the third quarter. Principal Financial Group Inc. now owns 12,626 shares of the company’s stock worth $451,000 after acquiring an additional 1,597 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of The Pennant Group by 26.6% in the third quarter. Franklin Resources Inc. now owns 18,347 shares of the company’s stock worth $638,000 after acquiring an additional 3,859 shares during the period. Finally, Tidal Investments LLC acquired a new position in shares of The Pennant Group in the third quarter worth approximately $506,000. 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.