The Pennant Group (NASDAQ:PNTG) Hits New 52-Week High – Should You Buy?

Shares of The Pennant Group, Inc. (NASDAQ:PNTG) reached a new 52-week high on Wednesday. The company traded as high as $43.60 and last traded at $43.6060, with a volume of 64,956 shares changing hands. The stock had previously closed at $41.19.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on PNTG shares. Royal Bank Of Canada upped their price target on shares of The Pennant Group from $42.00 to $44.00 and gave the company an “outperform” rating in a research note on Thursday, August 20th. Truist Financial boosted their target price on shares of The Pennant Group from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Wells Fargo & Company upped their target price on shares of The Pennant Group from $45.00 to $46.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. Finally, Weiss Ratings raised shares of The Pennant Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 19th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, The Pennant Group has a consensus rating of “Moderate Buy” and an average price target of $46.00.

The Pennant Group Trading Up 7.1%

The stock has a market cap of $1.54 billion, a P/E ratio of 49.02, a P/E/G ratio of 2.64 and a beta of 1.33. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.48. The company has a 50-day moving average price of $40.04 and a two-hundred day moving average price of $35.53.

The Pennant Group (NASDAQ:PNTG) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. The company had revenue of $297.98 million during the quarter, compared to the consensus estimate of $288.71 million. The Pennant Group had a return on equity of 10.33% and a net margin of 2.93%. On average, research analysts expect that The Pennant Group, Inc. will post 1.18 EPS for the current fiscal year.

Institutional Investors Weigh In On The Pennant Group

Institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in shares of The Pennant Group by 34.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,568 shares of the company’s stock worth $58,000 after purchasing an additional 403 shares during the period. Nykredit A S purchased a new stake in The Pennant Group in the 2nd quarter worth about $29,000. Sterling Capital Management LLC lifted its stake in The Pennant Group by 846.7% in the third quarter. Sterling Capital Management LLC now owns 1,136 shares of the company’s stock worth $44,000 after purchasing an additional 1,016 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in The Pennant Group by 45.4% in the third quarter. Nisa Investment Advisors LLC now owns 3,413 shares of the company’s stock worth $133,000 after purchasing an additional 1,065 shares during the last quarter. Finally, Parallel Advisors LLC lifted its stake in The Pennant Group by 1,186.8% in the first quarter. Parallel Advisors LLC now owns 1,364 shares of the company’s stock worth $42,000 after purchasing an additional 1,258 shares during the last quarter. Institutional investors own 85.88% of the company’s stock.

About The Pennant Group

The Pennant Group, Inc is a healthcare services company that operates home health, hospice and senior living businesses in the United States. Through its affiliated agencies and communities, the company provides skilled nursing, physical, occupational and speech therapy, personal care, hospice and palliative services, assisted living, and other support for older adults and individuals recovering from illness or injury.

Pennant’s home health and hospice operations serve patients in their homes and other residential settings, while its senior living segment operates communities that provide assisted living and related services.