Truist Financial Issues Pessimistic Forecast for The Pennant Group (NASDAQ:PNTG) Stock Price

The Pennant Group (NASDAQ:PNTG) had its price objective decreased by Truist Financial from $32.00 to $28.00 in a report issued on Friday,Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s price objective points to a potential upside of 26.07% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Oppenheimer raised their target price on shares of The Pennant Group from $34.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Wells Fargo & Company began coverage on The Pennant Group in a research note on Thursday, December 19th. They issued an “equal weight” rating and a $33.00 price target for the company. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $35.20.

The Pennant Group Stock Down 3.9 %

Shares of NASDAQ PNTG opened at $22.21 on Friday. The company has a market cap of $764.69 million, a price-to-earnings ratio of 32.66, a PEG 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 Pennant Group has a 12 month low of $18.21 and a 12 month high of $37.13. The stock has a 50-day moving average price of $26.18 and a two-hundred day moving average price of $30.24.

Hedge Funds Weigh In On The Pennant Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in PNTG. Quarry LP grew its stake in shares of The Pennant Group by 371.6% in the third quarter. Quarry LP now owns 1,014 shares of the company’s stock worth $36,000 after purchasing an additional 799 shares during the last quarter. Turtle Creek Asset Management Inc. lifted its holdings in The Pennant Group by 150.0% during the 4th quarter. Turtle Creek Asset Management Inc. now owns 2,500 shares of the company’s stock worth $66,000 after buying an additional 1,500 shares during the period. Summit Investment Advisors Inc. lifted its holdings in The Pennant Group by 20.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,414 shares of the company’s stock worth $91,000 after buying an additional 575 shares during the period. Point72 Asia Singapore Pte. Ltd. grew its position in shares of The Pennant Group by 460.2% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,311 shares of the company’s stock valued at $118,000 after buying an additional 2,720 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado acquired a new stake in shares of The Pennant Group in the fourth quarter valued at about $122,000. 85.88% of the stock is currently owned by institutional investors and hedge funds.

The Pennant Group Company Profile

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.