The Pennant Group (NASDAQ:PNTG) Trading Up 5.5%

The Pennant Group (NASDAQ:PNTG)’s stock price was up 5.5% during trading on Wednesday . The stock traded as high as $36.56 and last traded at $35.37. Approximately 195,767 shares were traded during trading, an increase of 28% from the average daily volume of 152,561 shares. The stock had previously closed at $33.53.

Several equities research analysts have recently commented on PNTG shares. Truist Financial lifted their price objective on shares of The Pennant Group from $25.00 to $40.00 in a research note on Thursday, August 13th. Stephens lifted their price objective on shares of The Pennant Group from $30.00 to $44.00 and gave the stock an “overweight” rating in a research note on Thursday, August 13th. SunTrust Banks reiterated a “hold” rating and set a $28.00 price objective on shares of The Pennant Group in a research note on Thursday, June 18th. Finally, Zacks Investment Research upgraded shares of The Pennant Group from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research note on Wednesday, August 26th.

The company has a market capitalization of $989.69 million and a price-to-earnings ratio of 208.06. The business’s 50-day moving average is $33.15 and its 200-day moving average is $23.92. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.01.

The Pennant Group (NASDAQ:PNTG) last posted its earnings results on Tuesday, August 11th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.12. The Pennant Group had a net margin of 1.39% and a return on equity of 22.16%. The company had revenue of $92.74 million during the quarter, compared to the consensus estimate of $89.80 million. As a group, analysts expect that The Pennant Group will post 0.66 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. purchased a new position in The Pennant Group in the second quarter valued at $27,000. Macquarie Group Ltd. purchased a new stake in shares of The Pennant Group during the second quarter worth about $31,000. Bank of Montreal Can purchased a new stake in shares of The Pennant Group during the second quarter worth about $79,000. Advisor Group Holdings Inc. purchased a new stake in shares of The Pennant Group during the second quarter worth about $109,000. Finally, Teachers Retirement System of The State of Kentucky purchased a new stake in shares of The Pennant Group during the second quarter worth about $177,000. 80.42% of the stock is owned by institutional investors.

About The Pennant Group (NASDAQ:PNTG)

The Pennant Group, Inc offers home health, hospice, and senior living services across Arizona, California, Colorado, Idaho, Iowa, Nevada, Oklahoma, Oregon, Texas, Utah, Washington, Wisconsin, and Wyoming. 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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