PACS Group (NYSE:PACS) Reaches New 1-Year Low – Here’s Why

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Oppenheimer upped their target price on 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 increased their price objective on shares of PACS Group from $44.00 to $46.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Citigroup initiated coverage on shares of PACS Group in a report on Wednesday, September 11th. They issued a “buy” rating and a $45.00 target price for the company. Stephens increased their price target on shares of PACS Group from $37.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and set a $40.00 price objective on shares of PACS Group in a research note on Wednesday. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $41.00.

PACS Group Trading Down 38.8 %

The company’s fifty day moving average is $39.71 and its two-hundred day moving average 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 issued its quarterly earnings data 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 the consensus estimate of $919.22 million. The business’s revenue was up 29.1% on a year-over-year basis. Sell-side analysts forecast that PACS Group, Inc. will post 1.03 EPS for the current year.

Institutional Investors Weigh In On PACS Group

A number of large investors have recently added to or reduced their stakes in the company. Amalgamated Bank acquired a new stake in PACS Group during the 2nd quarter valued at approximately $25,000. Whittier Trust Co. grew its position in shares of PACS Group by 152.2% during the third quarter. Whittier Trust Co. now owns 1,382 shares of the company’s stock worth $55,000 after buying an additional 834 shares in the last quarter. US Bancorp DE increased its stake in shares of PACS Group by 56.2% in the third quarter. US Bancorp DE now owns 6,681 shares of the company’s stock worth $267,000 after buying an additional 2,404 shares during the last quarter. Sandia Investment Management LP acquired a new stake in PACS Group in the second quarter valued at $295,000. Finally, The Manufacturers Life Insurance Company bought a new position in PACS Group during the 2nd quarter valued at $302,000.

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.