The Pennant Group (NASDAQ:PNTG) Coverage Initiated by Analysts at Wells Fargo & Company

Analysts at Wells Fargo & Company started coverage on shares of The Pennant Group (NASDAQ:PNTG) in a note issued to investors on Thursday,Benzinga reports. The brokerage set an “equal weight” rating and a $33.00 price target on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 17.23% from the company’s current price.

A number of other analysts also recently weighed in on the stock. Royal Bank of Canada upped their target price 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. Truist Financial raised their target price on shares of The Pennant Group from $34.00 to $38.00 and gave the company a “hold” rating in a research note on Monday, October 7th. Oppenheimer boosted their price target on The Pennant Group from $34.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Stephens reaffirmed an “overweight” rating and set a $40.00 price objective on shares of The Pennant Group in a research report on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $37.20.

The Pennant Group Trading Down 3.6 %

PNTG opened at $28.15 on Thursday. 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 52 week low of $13.60 and a 52 week high of $37.13. The stock has a market cap of $966.90 million, a PE ratio of 41.40, a PEG ratio of 2.99 and a beta of 1.95. The business has a 50 day moving average of $32.04 and a 200-day moving average of $30.19.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PNTG. Bank of New York Mellon Corp boosted its position in shares of The Pennant Group by 10.3% during the second quarter. Bank of New York Mellon Corp now owns 130,195 shares of the company’s stock valued at $3,019,000 after buying an additional 12,141 shares during the last quarter. Bailard Inc. purchased a new stake in shares of The Pennant Group during the 2nd quarter valued at about $253,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of The Pennant Group by 292.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,738 shares of the company’s stock worth $504,000 after acquiring an additional 16,200 shares during the period. Principal Financial Group Inc. raised its holdings in shares of The Pennant Group by 9.9% during the second quarter. Principal Financial Group Inc. now owns 11,029 shares of the company’s stock valued at $256,000 after purchasing an additional 991 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of The Pennant Group by 8.9% during the second quarter. Rhumbline Advisers now owns 44,239 shares of the company’s stock valued at $1,026,000 after purchasing an additional 3,611 shares during the last quarter. Hedge funds and other institutional investors own 85.88% of the company’s stock.

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.