The Pennant Group (NASDAQ:PNTG) Price Target Increased to $38.00 by Analysts at Royal Bank of Canada

The Pennant Group (NASDAQ:PNTG) had its price target lifted by analysts at Royal Bank of Canada from $26.00 to $38.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 13.26% from the company’s previous close.

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

The Pennant Group Trading Up 0.6 %

Shares of NASDAQ PNTG traded up $0.21 during midday trading on Wednesday, hitting $33.55. The stock had a trading volume of 24,044 shares, compared to its average volume of 194,156. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 53.22, a PEG ratio of 3.57 and a beta of 2.01. The Pennant Group has a 1-year low of $10.46 and a 1-year high of $37.13. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.48. The company has a fifty day moving average price of $33.79 and a 200 day moving average price of $27.41.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Covestor Ltd lifted its holdings in shares of The Pennant Group by 3,805.6% in the first quarter. Covestor Ltd now owns 1,406 shares of the company’s stock valued at $28,000 after buying an additional 1,370 shares during the period. USA Financial Formulas acquired a new stake in shares of The Pennant Group in the third quarter valued at $121,000. Principal Financial Group Inc. acquired a new stake in shares of The Pennant Group in the first quarter valued at $197,000. Acadian Asset Management LLC acquired a new stake in shares of The Pennant Group during the first quarter worth $218,000. Finally, Bailard Inc. acquired a new stake in shares of The Pennant Group during the second quarter worth $253,000. Institutional investors and hedge funds 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.