Pennantpark Investment (PNNT) Receives a Buy from Raymond James
Raymond James analyst Robert Dodd maintained a Buy rating on Pennantpark Investment (PNNT) yesterday. The company’s shares closed last Thursday at $4.21.
According to TipRanks.com, Dodd is a 4-star analyst with an average return of 6.5% and a 69.0% success rate. Dodd covers the Financial sector, focusing on stocks such as First Eagle Alternative Capital BDC, Investcorp Credit Management BDC, and Sixth Street Specialty Lending.
Currently, the analyst consensus on Pennantpark Investment is a Moderate Buy with an average price target of $4.75, implying a 24.3% upside from current levels. In a report released yesterday, Compass Point also upgraded the stock to Buy with a $4.75 price target.
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Based on Pennantpark Investment’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $15.16 million and net profit of $15.61 million. In comparison, last year the company earned revenue of $7.16 million and had a net profit of $5.63 million.
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PennantPark Investment Corp. engages in the provision of access to the middle market direct lending. It seeks to create diversified portfolio which includes first lien secured debt, second lien secured debt, subordinated debt and equity investments. The company was founded by Arthur H. Penn on January 11, 2007 and is headquartered in New York, NY.