PACS Group, Inc. (NYSE:PACS) Receives Average Rating of “Buy” from Analysts

PACS Group, Inc. (NYSE:PACS) has been given a consensus recommendation of “Buy” by the eight research firms that are currently covering the company, Marketbeat reports. Eight equities research analysts have rated the stock with a buy rating. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $39.38.

A number of equities analysts have commented on the company. Stephens increased their target price on PACS Group from $37.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, August 13th. UBS Group began coverage on PACS Group in a report on Wednesday, October 9th. They issued a “buy” rating and a $50.00 price target for the company. Oppenheimer lifted their price objective on PACS Group from $32.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 13th. Truist Financial lifted their price objective on PACS Group from $44.00 to $46.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Citigroup began coverage on PACS Group in a research report on Wednesday, September 11th. They set a “buy” rating and a $45.00 price objective on the stock.

Institutional Investors Weigh In On PACS Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Davidson Kempner Capital Management LP acquired a new stake in PACS Group during the second quarter worth $4,425,000. Bank of New York Mellon Corp acquired a new stake in shares of PACS Group in the second quarter valued at $2,445,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of PACS Group in the second quarter valued at $7,513,000. Seven Grand Managers LLC grew its stake in shares of PACS Group by 100.0% in the third quarter. Seven Grand Managers LLC now owns 150,000 shares of the company’s stock valued at $5,996,000 after buying an additional 75,000 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of PACS Group in the third quarter valued at $548,000.

PACS Group Trading Up 0.6 %

Shares of PACS Group stock opened at $42.94 on Monday. The business has a 50 day simple moving average of $40.14 and a two-hundred day simple moving average of $33.87. PACS Group has a 12 month low of $22.61 and a 12 month high of $43.92. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.71 and a quick ratio of 1.71.

PACS Group (NYSE:PACS) last announced its earnings results on Monday, August 12th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.42). The business had revenue of $981.80 million during the quarter, compared to analyst estimates of $919.22 million. The firm’s revenue was up 29.1% on a year-over-year basis. As a group, equities research analysts anticipate that PACS Group will post 1.03 EPS for the current year.

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.