PACS Group (NYSE:PACS) Price Target Raised to $40.00

PACS Group (NYSE:PACS) had its target price raised by stock analysts at Stephens from $37.00 to $40.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Stephens’ price target would suggest a potential upside of 6.92% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Citigroup upped their price target on PACS Group from $34.00 to $41.00 and gave the stock a “buy” rating in a report on Tuesday. Truist Financial boosted their target price on PACS Group from $32.00 to $36.00 and gave the company a “buy” rating in a report on Monday, July 15th. Royal Bank of Canada boosted their target price on shares of PACS Group from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 15th. Oppenheimer increased their price target on shares of PACS Group from $32.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Macquarie initiated coverage on shares of PACS Group in a research report on Friday, June 28th. They set an “outperform” rating and a $35.00 target price on the stock. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, PACS Group presently has an average rating of “Buy” and an average target price of $35.86.

PACS Group Price Performance

NYSE:PACS traded up $5.06 during mid-day trading on Tuesday, hitting $37.41. The company’s stock had a trading volume of 389,913 shares, compared to its average volume of 467,264. The business’s fifty day moving average price is $31.43. The company has a debt-to-equity ratio of 5.75, a quick ratio of 1.56 and a current ratio of 1.56. PACS Group has a 1 year low of $22.61 and a 1 year high of $38.81.

PACS Group (NYSE:PACS) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.34 by ($0.41). The company had revenue of $981.80 million during the quarter, compared to analysts’ expectations of $919.22 million. PACS Group’s quarterly revenue was up 29.1% compared to the same quarter last year. Research analysts expect that PACS Group will post 1.51 EPS for the current year.

Institutional Trading of PACS Group

A number of hedge funds have recently added to or reduced their stakes in PACS. Allspring Global Investments Holdings LLC purchased a new position in PACS Group during the second quarter worth approximately $7,513,000. Bank of New York Mellon Corp purchased a new position in shares of PACS Group in the 2nd quarter worth $2,445,000. Caas Capital Management LP purchased a new position in shares of PACS Group in the 2nd quarter worth about $1,386,000. Renaissance Technologies LLC acquired a new position in PACS Group during the second quarter valued at approximately $1,195,000. Finally, Rhumbline Advisers purchased a new stake in PACS Group during the second quarter worth approximately $870,000.

PACS Group Company Profile

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.