The Pennant Group (NASDAQ:PNTG) Price Target Increased to $26.00 by Analysts at Royal Bank of Canada

The Pennant Group (NASDAQ:PNTG) had its target price lifted by equities researchers at Royal Bank of Canada from $21.00 to $26.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 19.16% from the stock’s previous close.

Several other research firms have also commented on PNTG. Oppenheimer upped their price target on shares of The Pennant Group from $18.00 to $22.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Stephens reaffirmed an “overweight” rating and set a $23.00 price target on shares of The Pennant Group in a report on Tuesday. Finally, Truist Financial boosted their price target on The Pennant Group from $16.00 to $21.00 and gave the stock a “hold” rating in a research report on Friday, March 1st. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $23.00.

The Pennant Group Stock Performance

Shares of NASDAQ PNTG traded down $0.32 during midday trading on Thursday, hitting $21.82. The company’s stock had a trading volume of 116,237 shares, compared to its average volume of 147,792. The firm has a market cap of $654.82 million, a P/E ratio of 49.77, a P/E/G ratio of 2.26 and a beta of 2.01. The Pennant Group has a 1-year low of $10.31 and a 1-year high of $22.39. The firm’s fifty day moving average price is $19.87 and its 200-day moving average price is $16.18. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.12 and a current ratio of 1.12.

The Pennant Group (NASDAQ:PNTG) last issued its earnings results on Wednesday, February 28th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). The company had revenue of $145.95 million during the quarter, compared to analyst estimates of $136.79 million. The Pennant Group had a net margin of 2.46% and a return on equity of 12.78%. During the same quarter in the previous year, the firm earned $0.15 earnings per share. On average, sell-side analysts forecast that The Pennant Group will post 0.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PNTG. AJOVista LLC acquired a new position in shares of The Pennant Group in the 4th quarter worth approximately $35,000. DekaBank Deutsche Girozentrale bought a new position in shares of The Pennant Group in the fourth quarter valued at $52,000. Allspring Global Investments Holdings LLC lifted its position in shares of The Pennant Group by 21.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,443 shares of the company’s stock valued at $61,000 after acquiring an additional 944 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of The Pennant Group during the 4th quarter valued at $107,000. Finally, Mackenzie Financial Corp acquired a new position in shares of The Pennant Group in the 4th quarter valued at $155,000. 85.88% of the stock is owned by institutional investors and hedge funds.

The Pennant Group Company Profile

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.