JPMorgan Chase & Co. Reiterates “Neutral” Rating for PACS Group (NYSE:PACS)

PACS Group (NYSE:PACS)‘s stock had its “neutral” rating reiterated by analysts at JPMorgan Chase & Co. in a note issued to investors on Tuesday, MarketBeat.com reports. They presently have a $18.00 target price on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 37.61% from the company’s previous close.

A number of other analysts have also issued reports on PACS. Stephens dropped their target price on PACS Group from $48.00 to $31.00 and set an “overweight” rating on the stock in a research report on Monday, November 18th. Citigroup assumed coverage on PACS Group in a research note on Wednesday, September 11th. They set a “buy” rating and a $45.00 target price for the company. Truist Financial lifted their price target on shares of PACS Group from $44.00 to $46.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, UBS Group assumed coverage on shares of PACS Group in a research note on Wednesday, October 9th. They set a “buy” rating and a $50.00 price objective on the stock. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.13.

PACS Group Price Performance

PACS opened at $13.08 on Tuesday. PACS Group has a twelve month low of $13.03 and a twelve month high of $43.92. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.82. The company has a fifty day simple moving average of $25.67 and a 200 day simple moving average of $31.77.

Institutional Trading of PACS Group

A number of institutional investors and hedge funds have recently modified their holdings of the business. Amalgamated Bank acquired a new stake in shares of PACS Group during the 2nd quarter worth approximately $25,000. Whittier Trust Co. grew its stake in PACS Group by 152.2% during the 3rd quarter. Whittier Trust Co. now owns 1,382 shares of the company’s stock worth $55,000 after buying an additional 834 shares during the last quarter. Crewe Advisors LLC acquired a new stake in PACS Group in the third quarter worth $66,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in PACS Group in the third quarter valued at $251,000. Finally, US Bancorp DE lifted its stake in PACS Group by 56.2% in the third quarter. US Bancorp DE now owns 6,681 shares of the company’s stock valued at $267,000 after buying an additional 2,404 shares during the last quarter.

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.