The Pennant Group (NASDAQ:PNTG – Get Rating) had its price objective cut by equities researchers at Truist Financial from $18.00 to $12.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s target price suggests a potential upside of 10.19% from the company’s previous close.
Several other analysts also recently issued reports on PNTG. Stephens downgraded The Pennant Group from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $23.00 to $17.00 in a research note on Tuesday, June 21st. Stifel Nicolaus dropped their price objective on The Pennant Group from $18.00 to $16.00 and set a “hold” rating for the company in a report on Wednesday, June 22nd.
Shares of NASDAQ PNTG opened at $10.89 on Thursday. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.48. The Pennant Group has a 12 month low of $10.62 and a 12 month high of $38.53. The stock has a 50 day moving average of $15.40 and a 200-day moving average of $16.58. The company has a market capitalization of $310.74 million, a P/E ratio of 136.13 and a beta of 2.51.
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The Pennant Group (NASDAQ:PNTG – Get Rating) last issued its earnings results on Monday, May 9th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.02 by $0.02. The company had revenue of $113.91 million during the quarter, compared to the consensus estimate of $109.40 million. The Pennant Group had a return on equity of 6.03% and a net margin of 0.62%. During the same period in the previous year, the company posted $0.11 EPS. Analysts predict that The Pennant Group will post 0.4 EPS for the current fiscal year.
In other news, Director Christopher R. Christensen acquired 2,668 shares of The Pennant Group stock in a transaction that occurred on Monday, April 18th. The shares were acquired at an average price of $16.50 per share, for a total transaction of $44,022.00. Following the transaction, the director now directly owns 581,133 shares of the company’s stock, valued at approximately $9,588,694.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christopher R. Christensen sold 2,818 shares of the company’s stock in a transaction dated Friday, June 10th. The shares were sold at an average price of $16.20, for a total value of $45,651.60. Following the completion of the sale, the director now owns 152,405 shares in the company, valued at approximately $2,468,961. The disclosure for this sale can be found here. 10.30% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Comerica Bank grew its position in shares of The Pennant Group by 2.5% in the 3rd quarter. Comerica Bank now owns 24,415 shares of the company’s stock valued at $580,000 after buying an additional 585 shares during the last quarter. Maryland State Retirement & Pension System boosted its position in shares of The Pennant Group by 6.4% during the 4th quarter. Maryland State Retirement & Pension System now owns 10,685 shares of the company’s stock valued at $247,000 after purchasing an additional 647 shares in the last quarter. Public Sector Pension Investment Board boosted its position in shares of The Pennant Group by 1.2% during the 4th quarter. Public Sector Pension Investment Board now owns 55,104 shares of the company’s stock valued at $1,272,000 after purchasing an additional 660 shares in the last quarter. Captrust Financial Advisors boosted its position in shares of The Pennant Group by 34.8% during the 1st quarter. Captrust Financial Advisors now owns 4,098 shares of the company’s stock valued at $76,000 after purchasing an additional 1,057 shares in the last quarter. Finally, Yousif Capital Management LLC boosted its position in shares of The Pennant Group by 4.6% during the 1st quarter. Yousif Capital Management LLC now owns 24,711 shares of the company’s stock valued at $460,000 after purchasing an additional 1,095 shares in the last quarter. Hedge funds and other institutional investors own 88.84% of the company’s stock.
The Pennant Group Company Profile (Get Rating)
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.
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