Zacks Investment Research upgraded shares of The Pennant Group (NASDAQ:PNTG) from a hold rating to a buy rating in a research note published on Wednesday, Zacks.com reports. They currently have $70.00 price target on the stock.
According to Zacks, “The Pennant Group Inc. through subsidiaries offers home health, hospice and senior living services. It operates primarily in Arizona, California, Colorado, Idaho, Iowa, Nevada, Oklahoma, Oregon, Texas, Utah, Washington, Wisconsin and Wyoming. The Pennant Group Inc. is based in Eagle, United States. “
Other analysts also recently issued research reports about the stock. Royal Bank of Canada upped their price target on shares of The Pennant Group from $40.00 to $44.00 and gave the stock a sector perform rating in a report on Thursday, November 12th. Truist Financial increased their price objective on shares of The Pennant Group from $44.00 to $60.00 in a research note on Tuesday, January 5th.
Shares of The Pennant Group stock traded up $2.04 during trading on Wednesday, hitting $63.64. 911 shares of the stock were exchanged, compared to its average volume of 119,841. The stock has a market capitalization of $1.79 billion and a price-to-earnings ratio of 362.35. The company has a fifty day moving average price of $58.18 and a 200-day moving average price of $40.53. The Pennant Group has a 1-year low of $9.40 and a 1-year high of $69.56. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.01.
The Pennant Group (NASDAQ:PNTG) last announced its quarterly earnings results on Saturday, November 14th. The company reported $0.18 EPS for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.01. The Pennant Group had a net margin of 1.39% and a return on equity of 22.16%. The business had revenue of $98.40 million for the quarter, compared to analyst estimates of $96.70 million. Equities research analysts forecast that The Pennant Group will post 0.66 EPS for the current fiscal year.
In other news, CEO Daniel H. Walker sold 45,447 shares of the stock in a transaction on Thursday, October 22nd. The shares were sold at an average price of $40.05, for a total transaction of $1,820,152.35. Following the completion of the sale, the chief executive officer now directly owns 1,193,691 shares in the company, valued at $47,807,324.55. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Daniel H. Walker sold 2,247 shares of the stock in a transaction on Friday, October 16th. The stock was sold at an average price of $40.10, for a total transaction of $90,104.70. Following the sale, the chief executive officer now owns 1,193,691 shares of the company’s stock, valued at $47,867,009.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 84,244 shares of company stock valued at $4,097,609. Corporate insiders own 10.40% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of PNTG. Nisa Investment Advisors LLC bought a new position in shares of The Pennant Group in the third quarter valued at $123,000. Nuveen Asset Management LLC bought a new position in shares of The Pennant Group in the second quarter valued at $6,447,000. Great West Life Assurance Co. Can bought a new position in shares of The Pennant Group during the second quarter valued at about $751,000. Vanguard Group Inc. bought a new position in shares of The Pennant Group during the second quarter valued at about $66,091,000. Finally, Envestnet Asset Management Inc. bought a new position in shares of The Pennant Group during the third quarter valued at about $370,000. Institutional investors own 80.42% of the company’s stock.
About The Pennant Group
The Pennant Group, Inc provides healthcare services in Arizona, California, Colorado, Idaho, Iowa, Montana, Nevada, Oklahoma, Oregon, Texas, Utah, Washington, Wisconsin, and Wyoming. 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, counseling, and palliative services for the physical, spiritual, and psychosocial needs of terminally ill patients and their families.
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