PACS Group (NYSE:PACS) Research Coverage Started at Citigroup

Citigroup assumed coverage on shares of PACS Group (NYSE:PACS) in a report published on Wednesday, MarketBeat.com reports. The brokerage issued a buy rating and a $45.00 price target on the stock.

Several other analysts have also recently issued reports on PACS. Royal Bank of Canada raised their target price on PACS Group from $30.00 to $32.00 and gave the stock an outperform rating in a research note on Wednesday, May 15th. Macquarie started coverage on shares of PACS Group in a report on Friday, June 28th. They issued an outperform rating and a $35.00 price objective for the company. Oppenheimer boosted their target price on shares of PACS Group from $32.00 to $40.00 and gave the company an outperform rating in a research note on Tuesday, August 13th. Truist Financial boosted their price objective on shares of PACS Group from $36.00 to $44.00 and gave the company a buy rating in a research report on Thursday, August 15th. Finally, Stephens boosted their price objective on shares of PACS Group from $37.00 to $40.00 and gave the company an overweight rating in a research report on Tuesday, August 13th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of Buy and an average price target of $37.57.

PACS Group Stock Performance

Shares of PACS stock opened at $40.72 on Wednesday. The stock’s fifty day moving average price is $36.05. PACS Group has a twelve month low of $22.61 and a twelve month high of $42.25. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.71 and a current ratio of 1.71.

PACS Group (NYSE:PACS) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.35 by ($0.42). The firm 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. On average, equities analysts anticipate that PACS Group will post 1.03 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PACS. Ghisallo Capital Management LLC bought a new position in PACS Group in the 2nd quarter valued at about $8,850,000. Point72 Asset Management L.P. purchased a new stake in shares of PACS Group in the second quarter worth approximately $6,677,000. Lighthouse Investment Partners LLC purchased a new stake in shares of PACS Group in the second quarter worth approximately $8,946,000. The Manufacturers Life Insurance Company purchased a new stake in shares of PACS Group in the second quarter worth approximately $302,000. Finally, Millennium Management LLC acquired a new position in PACS Group in the second quarter worth approximately $8,905,000.

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.