The Pennant Group (NASDAQ:PNTG – Get Rating) had its target price dropped by investment analysts at Truist Financial from $18.00 to $12.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s price target points to a potential upside of 10.19% from the company’s current price.
Other equities analysts have also issued reports about the company. Stifel Nicolaus reduced 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. Stephens lowered The Pennant Group from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $23.00 to $17.00 in a report on Tuesday, June 21st.
Shares of NASDAQ PNTG opened at $10.89 on Thursday. The stock has a fifty day simple moving average of $15.40 and a two-hundred day simple moving average of $16.58. The Pennant Group has a 1-year low of $10.62 and a 1-year high of $38.53. The firm has a market cap of $310.74 million, a price-to-earnings ratio of 136.13 and a beta of 2.51. 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 (NASDAQ:PNTG – Get Rating) last announced its quarterly earnings data on Monday, May 9th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.02. The Pennant Group had a return on equity of 6.03% and a net margin of 0.62%. The business had revenue of $113.91 million during the quarter, compared to analyst estimates of $109.40 million. During the same period in the prior year, the company earned $0.11 earnings per share. Analysts forecast that The Pennant Group will post 0.4 EPS for the current year.
In other The Pennant Group news, Director Christopher R. Christensen acquired 2,668 shares of the stock in a transaction that occurred on Monday, April 18th. The shares were bought at an average price of $16.50 per share, for a total transaction of $44,022.00. Following the completion of the transaction, the director now owns 581,133 shares of the company’s stock, valued at approximately $9,588,694.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Christopher R. Christensen sold 2,818 shares of the stock in a transaction on Friday, June 10th. The stock was 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. Company insiders own 10.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PNTG. Riverbridge Partners LLC raised its position in The Pennant Group by 14.6% during the first quarter. Riverbridge Partners LLC now owns 1,459,014 shares of the company’s stock valued at $27,181,000 after purchasing an additional 185,521 shares in the last quarter. Wellington Management Group LLP raised its position in The Pennant Group by 30.0% during the first quarter. Wellington Management Group LLP now owns 556,550 shares of the company’s stock valued at $10,369,000 after purchasing an additional 128,548 shares in the last quarter. Rice Hall James & Associates LLC purchased a new stake in The Pennant Group during the first quarter valued at about $1,972,000. Stephens Inc. AR purchased a new stake in The Pennant Group during the fourth quarter valued at about $2,136,000. Finally, B. Riley Asset Management LLC purchased a new stake in The Pennant Group during the fourth quarter valued at about $1,040,000. Institutional investors and hedge funds own 88.84% of the company’s stock.
About The Pennant Group (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.
See Also
Receive News & Ratings for The Pennant Group Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for The Pennant Group and related companies with MarketBeat.com’s FREE daily email newsletter.
Source: defenseworld.net
