The Pennant Group (NASDAQ:PNTG) Hits New 52-Week High at $35.00

The Pennant Group, Inc. (NASDAQ:PNTG)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $35.00 and last traded at $35.00, with a volume of 423 shares. The stock had previously closed at $34.96.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Stephens upped their price target on The Pennant Group from $28.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Truist Financial boosted their price target on shares of The Pennant Group from $28.00 to $34.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Royal Bank of Canada increased their target price on The Pennant Group from $21.00 to $26.00 and gave the company an “outperform” rating in a report on Thursday, May 9th. Finally, Oppenheimer lifted their price target on The Pennant Group from $28.00 to $34.00 and gave the company an “outperform” rating in a report on Thursday, August 8th.

The Pennant Group Price Performance

The company has a market cap of $1.05 billion, a price-to-earnings ratio of 64.74, a price-to-earnings-growth ratio of 3.34 and a beta of 2.00. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.12 and a current ratio of 1.12. The business’s 50 day simple moving average is $27.23 and its 200-day simple moving average is $22.73.

The Pennant Group (NASDAQ:PNTG) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. The company had revenue of $168.75 million during the quarter, compared to the consensus estimate of $156.71 million. The Pennant Group had a return on equity of 13.74% and a net margin of 3.16%. Sell-side analysts expect that The Pennant Group, Inc. will post 0.73 earnings per share for the current year.

Institutional Investors Weigh In On The Pennant Group

A number of large investors have recently bought and sold shares of PNTG. Mackenzie Financial Corp acquired a new position in The Pennant Group during the fourth quarter valued at approximately $155,000. AJOVista LLC bought a new position in shares of The Pennant Group in the fourth quarter worth about $35,000. Jump Financial LLC acquired a new position in shares of The Pennant Group during the 4th quarter worth about $240,000. Hillsdale Investment Management Inc. boosted its stake in The Pennant Group by 3.2% during the 4th quarter. Hillsdale Investment Management Inc. now owns 325,622 shares of the company’s stock valued at $4,533,000 after purchasing an additional 10,200 shares during the period. Finally, Trexquant Investment LP grew its stake in shares of The Pennant Group by 186.0% in the fourth quarter. Trexquant Investment LP now owns 89,656 shares of the company’s stock worth $1,248,000 after acquiring an additional 58,310 shares during the last quarter. 85.88% of the stock is currently owned by institutional investors.

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.