The Pennant Group (NASDAQ:PNTG) Price Target Raised to $42.00 at Royal Bank Of Canada

The Pennant Group (NASDAQ:PNTG) had its price objective raised by investment analysts at Royal Bank Of Canada from $41.00 to $42.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price indicates a potential upside of 17.68% from the company’s previous close.

Several other equities research analysts have also issued reports on PNTG. Wells Fargo & Company raised their price objective on The Pennant Group from $38.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday. Truist Financial upped their target price on shares of The Pennant Group from $34.00 to $36.00 and gave the stock a “buy” rating in a research note on Monday, April 13th. Zacks Research lowered The Pennant Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Weiss Ratings upgraded The Pennant Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. Finally, Wall Street Zen lowered shares of The Pennant Group from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $39.00.

The Pennant Group Price Performance

Shares of PNTG traded down $0.04 during mid-day trading on Friday, hitting $35.69. 181,633 shares of the stock were exchanged, compared to its average volume of 274,614. The company has a market cap of $1.25 billion, a PE ratio of 42.00, a price-to-earnings-growth ratio of 2.22 and a beta of 1.28. The Pennant Group has a 52-week low of $21.73 and a 52-week high of $37.54. The firm has a 50-day moving average of $31.60 and a two-hundred day moving average of $29.45. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.14 and a current ratio of 1.14.

The Pennant Group (NASDAQ:PNTG) last posted its earnings results on Wednesday, May 6th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The Pennant Group had a net margin of 2.96% and a return on equity of 10.35%. The firm had revenue of $285.36 million during the quarter, compared to analyst estimates of $280.75 million. On average, equities analysts predict that The Pennant Group will post 1.13 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wasatch Advisors LP raised its position in shares of The Pennant Group by 143.2% in the 1st quarter. Wasatch Advisors LP now owns 1,418,687 shares of the company’s stock worth $43,242,000 after acquiring an additional 835,227 shares in the last quarter. WCM Investment Management LLC purchased a new position in The Pennant Group in the third quarter valued at about $16,100,000. Ameriprise Financial Inc. bought a new position in The Pennant Group in the second quarter worth about $14,356,000. Provident Investment Management Inc. raised its holdings in The Pennant Group by 161.0% in the fourth quarter. Provident Investment Management Inc. now owns 691,862 shares of the company’s stock worth $19,476,000 after purchasing an additional 426,797 shares in the last quarter. Finally, Loomis Sayles & Co. L P purchased a new stake in shares of The Pennant Group during the fourth quarter valued at about $11,023,000. 85.88% of the stock is currently owned by hedge funds and other institutional investors.

About The Pennant Group

The Pennant Group (NASDAQ: PNTG) is a publicly traded holding company that provides specialized services to the asset management industry. Through its operating subsidiaries, the company delivers outsourced fund administration, securities lending, prime brokerage, and capital markets solutions designed to support hedge funds, private equity firms, mutual funds and other institutional investors. By leveraging a combination of technology platforms and industry expertise, The Pennant Group helps clients streamline middle- and back-office processes, enhance operational efficiency and manage regulatory requirements.

Key service offerings include fund accounting and reporting, trade settlement and reconciliation, risk monitoring, securities lending programs and execution support across a range of asset classes.