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

Wells Fargo & Company assumed coverage on shares of The Pennant Group (NASDAQ:PNTG) in a research report issued on Thursday,Benzinga reports. The firm set an “equal weight” rating and a $33.00 price target on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 17.23% from the company’s previous close.

Several other equities analysts also recently weighed in on PNTG. Royal Bank of Canada lifted their target price on The Pennant Group from $26.00 to $38.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. 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. Stephens reissued an “overweight” rating and issued a $40.00 target price on shares of The Pennant Group in a report on Wednesday, October 9th. Finally, Truist Financial increased their price objective on shares of The Pennant Group from $34.00 to $38.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, The Pennant Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.20.

The Pennant Group Stock Down 3.6 %

PNTG opened at $28.15 on Thursday. The Pennant Group has a 1-year low of $13.60 and a 1-year high of $37.13. The firm’s 50 day simple moving average is $32.04 and its two-hundred day simple moving average is $30.19. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $966.90 million, a PE ratio of 41.40, a PEG ratio of 2.99 and a beta of 1.95.

Institutional Trading of The Pennant Group

Large investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its holdings in shares of The Pennant Group by 26.6% in the third quarter. Franklin Resources Inc. now owns 18,347 shares of the company’s stock valued at $638,000 after purchasing an additional 3,859 shares in the last quarter. Tidal Investments LLC purchased a new position in shares of The Pennant Group in the 3rd quarter worth $506,000. Barclays PLC increased its holdings in shares of The Pennant Group by 375.0% in the 3rd quarter. Barclays PLC now owns 49,101 shares of the company’s stock worth $1,753,000 after buying an additional 38,763 shares during the last quarter. Geode Capital Management LLC raised its position in shares of The Pennant Group by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 682,132 shares of the company’s stock valued at $24,357,000 after buying an additional 2,963 shares in the last quarter. Finally, EP Wealth Advisors LLC purchased a new stake in shares of The Pennant Group during the 3rd quarter valued at about $571,000. 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.