The Pennant Group (NASDAQ:PNTG) Coverage Initiated at Wells Fargo & Company

Wells Fargo & Company started coverage on shares of The Pennant Group (NASDAQ:PNTG) in a report published on Thursday morning, Marketbeat Ratings reports. The firm issued an equal weight rating and a $33.00 price objective on the stock.

PNTG has been the topic of a number of other reports. Oppenheimer lifted their price objective 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. Truist Financial lifted their price target on shares of The Pennant Group from $34.00 to $38.00 and gave the company a “hold” rating in a report on Monday, October 7th. Stephens reissued an “overweight” rating and issued a $40.00 price objective on shares of The Pennant Group in a research note on Wednesday, October 9th. 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 investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.20.

The Pennant Group Stock Performance

Shares of NASDAQ:PNTG traded down $0.02 during midday trading on Thursday, hitting $27.28. The company had a trading volume of 45,176 shares, compared to its average volume of 200,290. The Pennant Group has a 12-month low of $13.66 and a 12-month high of $37.13. The company has a fifty day moving average of $31.92 and a two-hundred day moving average of $30.17. The company has a market cap of $937.01 million, a price-to-earnings ratio of 40.12, a PEG ratio of 2.99 and a beta of 1.95. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.12 and a quick ratio of 1.12.

Hedge Funds Weigh In On The Pennant Group

Several hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp increased its holdings in The Pennant Group by 10.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 130,195 shares of the company’s stock valued at $3,019,000 after acquiring an additional 12,141 shares during the last quarter. Bailard Inc. purchased a new position in shares of The Pennant Group during the second quarter valued at about $253,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of The Pennant Group by 292.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,738 shares of the company’s stock worth $504,000 after purchasing an additional 16,200 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of The Pennant Group by 9.9% in the second quarter. Principal Financial Group Inc. now owns 11,029 shares of the company’s stock worth $256,000 after buying an additional 991 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in The Pennant Group by 8.9% during the second quarter. Rhumbline Advisers now owns 44,239 shares of the company’s stock valued at $1,026,000 after buying an additional 3,611 shares during the last quarter. Hedge funds and other institutional investors own 85.88% of the company’s stock.

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.