Raymond James Sticks to Its Buy Rating for Pennantpark Investment (PNNT)
In a report released today, Robert Dodd from Raymond James maintained a Buy rating on Pennantpark Investment (PNNT). The company’s shares closed last Tuesday at $6.43.
According to TipRanks.com, Dodd is a 5-star analyst with an average return of 10.8% and a 72.1% 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.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Pennantpark Investment with a $6.13 average price target.
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Based on Pennantpark Investment’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $72.43 million and net profit of $71.13 million. In comparison, last year the company earned revenue of $20.67 million and had a net profit of $19.2 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.