The Pennant Group (NASDAQ:PNTG) Now Covered by Wells Fargo & Company

Research analysts at Wells Fargo & Company started coverage on shares of The Pennant Group (NASDAQ:PNTG) in a report issued on Thursday, MarketBeat reports. The brokerage set an “equal weight” rating and a $33.00 price target on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 20.53% from the company’s previous close.

Several other research firms have also issued reports on PNTG. Truist Financial boosted their price target on The Pennant Group from $34.00 to $38.00 and gave the company a “hold” rating in a report on Monday, October 7th. Oppenheimer boosted their price objective on The Pennant Group from $34.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Stephens restated an “overweight” rating and set a $40.00 target price on shares of The Pennant Group in a research note on Wednesday, October 9th. Finally, Royal Bank of Canada lifted their price target on shares of The Pennant Group from $26.00 to $38.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.20.

The Pennant Group Trading Up 0.3 %

Shares of The Pennant Group stock opened at $27.38 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market capitalization of $940.45 million, a PE ratio of 40.27, a P/E/G ratio of 2.99 and a beta of 1.95. The Pennant Group has a 1-year low of $13.66 and a 1-year high of $37.13. The company’s fifty day simple moving average is $31.80 and its 200-day simple moving average is $30.19.

Institutional Trading of The Pennant Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in The Pennant Group by 292.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,738 shares of the company’s stock valued at $504,000 after buying an additional 16,200 shares in the last quarter. FMR LLC increased its holdings in The Pennant Group by 51.3% in the 3rd quarter. FMR LLC now owns 2,528,512 shares of the company’s stock valued at $90,268,000 after acquiring an additional 856,838 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in The Pennant Group in the 3rd quarter valued at $685,000. Bailard Inc. purchased a new stake in The Pennant Group in the 2nd quarter worth $253,000. Finally, Systematic Financial Management LP bought a new position in shares of The Pennant Group during the 3rd quarter valued at about $1,069,000. Institutional investors own 85.88% of the company’s stock.

About The Pennant Group

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.