The Pennant Group (NASDAQ:PNTG) Given New $32.00 Price Target at Truist Financial

The Pennant Group (NASDAQ:PNTG) had its price objective cut by Truist Financial from $38.00 to $32.00 in a report issued on Monday morning,Benzinga reports. They currently have a hold rating on the stock.

Other research analysts have also issued reports about the company. Oppenheimer upped their price target on The Pennant Group from $34.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Stephens reissued an “overweight” rating and issued a $40.00 price target on shares of The Pennant Group in a report on Wednesday, October 9th. Wells Fargo & Company began coverage on shares of The Pennant Group in a research report on Thursday, December 19th. They set an “equal weight” rating and a $33.00 target price on the stock. Finally, Royal Bank of Canada lifted their target price on shares of The Pennant Group from $26.00 to $38.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, The Pennant Group currently has a consensus rating of “Moderate Buy” and an average price target of $36.00.

The Pennant Group Trading Down 4.1 %

NASDAQ:PNTG opened at $25.46 on Monday. The business has a fifty day moving average of $30.12 and a 200-day moving average of $30.58. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market cap of $874.50 million, a price-to-earnings ratio of 37.44, a PEG ratio of 2.99 and a beta of 1.93. The Pennant Group has a 1 year low of $14.77 and a 1 year high of $37.13.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PNTG. Kings Path Partners LLC boosted its holdings in The Pennant Group by 152.9% during the fourth quarter. Kings Path Partners LLC now owns 19,610 shares of the company’s stock worth $520,000 after purchasing an additional 11,855 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in The Pennant Group by 68.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 205,922 shares of the company’s stock valued at $7,351,000 after purchasing an additional 83,664 shares during the period. Principal Financial Group Inc. lifted its position in The Pennant Group by 14.5% during the third quarter. Principal Financial Group Inc. now owns 12,626 shares of the company’s stock valued at $451,000 after purchasing an additional 1,597 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of The Pennant Group by 26.6% in the 3rd quarter. Franklin Resources Inc. now owns 18,347 shares of the company’s stock worth $638,000 after purchasing an additional 3,859 shares in the last quarter. Finally, Tidal Investments LLC bought a new position in The Pennant Group during the 3rd quarter worth approximately $506,000. 85.88% of the stock is owned by institutional investors and hedge funds.

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.