Stephens Reaffirms “Overweight” Rating for The Pennant Group (NASDAQ:PNTG)

The Pennant Group (NASDAQ:PNTG)‘s stock had its “overweight” rating reissued by investment analysts at Stephens in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $38.00 price target on the stock. Stephens’ price target indicates a potential upside of 67.25% from the stock’s previous close.

Several other research analysts also recently commented on the stock. Truist Financial reduced their price target on shares of The Pennant Group from $32.00 to $28.00 and set a “hold” rating on the stock in a research note on Friday, March 7th. Wells Fargo & Company started coverage on shares of The Pennant Group in a research note on Thursday, December 19th. They issued an “equal weight” rating and a $33.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $34.80.

The Pennant Group Trading Down 2.0 %

Shares of PNTG opened at $22.72 on Tuesday. The Pennant Group has a twelve month low of $18.28 and a twelve month high of $37.13. The company has a market cap of $782.25 million, a P/E ratio of 33.41, a P/E/G ratio of 2.24 and a beta of 2.06. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.58. The company’s fifty day simple moving average is $25.96 and its 200-day simple moving average is $30.01.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PNTG. Van Berkom & Associates Inc. grew its holdings in The Pennant Group by 2,635.6% during the 4th quarter. Van Berkom & Associates Inc. now owns 2,198,216 shares of the company’s stock worth $58,297,000 after acquiring an additional 2,117,859 shares in the last quarter. FMR LLC boosted its holdings in shares of The Pennant Group by 54.5% in the 4th quarter. FMR LLC now owns 3,906,327 shares of the company’s stock valued at $103,596,000 after buying an additional 1,377,815 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of The Pennant Group by 11.0% in the 4th quarter. Vanguard Group Inc. now owns 2,261,564 shares of the company’s stock valued at $59,977,000 after buying an additional 223,919 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of The Pennant Group by 1,274.9% in the 4th quarter. Millennium Management LLC now owns 181,767 shares of the company’s stock valued at $4,820,000 after buying an additional 168,547 shares in the last quarter. Finally, Zimmer Partners LP bought a new stake in shares of The Pennant Group in the 4th quarter valued at about $3,978,000. 85.88% of the stock is currently owned by institutional investors.

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.