The Pennant Group (NASDAQ:PNTG) Reaches New 1-Year High at $24.54

The Pennant Group, Inc. (NASDAQ:PNTG)’s share price hit a new 52-week high on Wednesday . The company traded as high as $24.54 and last traded at $24.54, with a volume of 61916 shares traded. The stock had previously closed at $23.84.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Truist Financial increased their price target on The Pennant Group from $22.00 to $25.00 and gave the stock a “hold” rating in a research report on Wednesday, May 15th. Royal Bank of Canada upped their price target on shares of The Pennant Group from $21.00 to $26.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. Finally, Stephens reaffirmed an “overweight” rating and set a $25.00 target price on shares of The Pennant Group in a research note on Thursday, June 20th.

The Pennant Group Trading Down 0.6 %

The firm has a market cap of $769.88 million, a price-to-earnings ratio of 47.74, a P/E/G ratio of 2.60 and a beta of 2.01. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.16 and a quick ratio of 1.16. The company’s 50 day simple moving average is $23.07 and its 200 day simple moving average is $19.50.

The Pennant Group (NASDAQ:PNTG) last announced its quarterly earnings data on Monday, May 6th. The company reported $0.15 EPS for the quarter, meeting analysts’ consensus estimates of $0.15. The company had revenue of $156.92 million for the quarter, compared to the consensus estimate of $146.01 million. The Pennant Group had a net margin of 2.86% and a return on equity of 13.42%. As a group, research analysts expect that The Pennant Group, Inc. will post 0.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Covestor Ltd increased its position in shares of The Pennant Group by 3,805.6% in the first quarter. Covestor Ltd now owns 1,406 shares of the company’s stock valued at $28,000 after buying an additional 1,370 shares in the last quarter. AJOVista LLC purchased a new position in The Pennant Group during the fourth quarter worth approximately $35,000. DekaBank Deutsche Girozentrale acquired a new position in The Pennant Group in the fourth quarter valued at $52,000. SG Americas Securities LLC purchased a new stake in The Pennant Group during the fourth quarter worth approximately $107,000. Finally, Mackenzie Financial Corp acquired a new position in shares of The Pennant Group during the fourth quarter worth about $155,000. 85.88% of the stock is currently owned by hedge funds and other 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.