PACS Group (NYSE:PACS) Reaches New 52-Week Low – Should You Sell?

PACS Group, Inc. (NYSE:PACS)’s share price hit a new 52-week low on Wednesday . The stock traded as low as $18.42 and last traded at $18.72, with a volume of 784455 shares trading hands. The stock had previously closed at $29.54.

Analyst Upgrades and Downgrades

PACS has been the topic of several research reports. UBS Group initiated coverage on PACS Group in a research note on Wednesday, October 9th. They set a “buy” rating and a $50.00 price objective on the stock. Truist Financial upped their price target on PACS Group from $44.00 to $46.00 and gave the company a “buy” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $40.00 target price on shares of PACS Group in a research note on Wednesday. Oppenheimer increased their target price on shares of PACS Group from $32.00 to $40.00 and gave the stock an “outperform” rating in a report on Tuesday, August 13th. Finally, Citigroup started coverage on shares of PACS Group in a report on Wednesday, September 11th. They issued a “buy” rating and a $45.00 price target for the company. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $41.00.

PACS Group Price Performance

The firm’s fifty day moving average price is $39.71 and its 200-day moving average price is $33.97. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.82.

PACS Group (NYSE:PACS) last posted its earnings results on Monday, August 12th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.42). The business had revenue of $981.80 million for the quarter, compared to analysts’ expectations of $919.22 million. The firm’s revenue for the quarter was up 29.1% compared to the same quarter last year. On average, analysts anticipate that PACS Group, Inc. will post 1.03 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PACS. Davidson Kempner Capital Management LP acquired a new position in shares of PACS Group during the second quarter valued at approximately $4,425,000. Bank of New York Mellon Corp acquired a new position in shares of PACS Group during the 2nd quarter valued at $2,445,000. Allspring Global Investments Holdings LLC bought a new stake in shares of PACS Group in the 2nd quarter worth $7,513,000. Seven Grand Managers LLC lifted its holdings 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 during the period. Finally, SG Americas Securities LLC bought a new position in PACS Group during the third quarter valued at about $548,000.

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.