PACS Group, Inc. (NYSE:PACS) Receives $32.14 Average Price Target from Analysts

PACS Group, Inc. (NYSE:PACS) has been given a consensus rating of “Buy” by the seven brokerages that are presently covering the company, MarketBeat.com reports. Seven research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have covered the stock in the last year is $32.14.

Several brokerages have commented on PACS. Stephens reiterated an “overweight” rating and issued a $31.00 price target on shares of PACS Group in a research note on Tuesday, May 14th. Royal Bank of Canada increased their price target on shares of PACS Group from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Wednesday, May 15th. JPMorgan Chase & Co. assumed coverage on PACS Group in a research note on Monday, May 6th. They set an “overweight” rating and a $27.00 price objective on the stock. Truist Financial lifted their target price on PACS Group from $32.00 to $36.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Finally, Macquarie started coverage on PACS Group in a report on Friday, June 28th. They set an “outperform” rating and a $35.00 price target on the stock.

PACS Group Stock Performance

Shares of PACS Group stock opened at $34.88 on Friday. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 5.75. PACS Group has a 52 week low of $22.61 and a 52 week high of $35.18. The company’s 50 day simple moving average is $30.40.

PACS Group (NYSE:PACS) last released its quarterly earnings results on Monday, May 13th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.08. The firm had revenue of $934.72 million for the quarter, compared to the consensus estimate of $893.07 million. As a group, equities research analysts forecast that PACS Group will post 1.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PACS. Caas Capital Management LP purchased a new position in shares of PACS Group during the second quarter valued at $1,386,000. Bank of New York Mellon Corp bought a new stake in PACS Group during the 2nd quarter valued at $2,445,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of PACS Group in the 2nd quarter valued at $7,513,000.

About PACS Group

PACS Group, Inc, through its subsidiaries, operates skilled nursing facilities and assisted living facilities in the United States. The company also provides senior care and independent facilities. It engages in the acquisition, ownership, and leasing of health care-related properties. The company was founded in 2013 and is based in Farmington, Utah.