PACS Group’s (PACS) Overweight Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. restated their overweight rating on shares of PACS Group (NYSE:PACS) in a research note released on Wednesday, MarketBeat Ratings reports. The brokerage currently has a $40.00 target price on the stock.

Other research analysts have also issued reports about the stock. Truist Financial upped their target price on shares of PACS Group from $44.00 to $46.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Citigroup began coverage on shares of PACS Group in a research report on Wednesday, September 11th. They set a “buy” rating and a $45.00 target price on the stock. Oppenheimer upped their target price on shares of PACS Group from $32.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 13th. UBS Group began coverage on shares of PACS Group in a research report on Wednesday, October 9th. They set a “buy” rating and a $50.00 target price on the stock. Finally, Stephens upped their target price on shares of PACS Group from $37.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $41.00.

PACS Group Stock Up 7.6 %

NYSE PACS opened at $21.33 on Wednesday. PACS Group has a 52-week low of $16.74 and a 52-week high of $43.92. The firm has a 50-day moving average price of $38.52 and a 200 day moving average price of $33.75. 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 posted its quarterly earnings results on Monday, August 12th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.42). The company had revenue of $981.80 million for the quarter, compared to analysts’ expectations of $919.22 million. PACS Group’s revenue was up 29.1% compared to the same quarter last year. On average, equities research analysts predict that PACS Group will post 1.03 earnings per share for the current fiscal year.

Institutional Trading of PACS Group

Hedge funds have recently bought and sold shares of the company. Davidson Kempner Capital Management LP acquired a new stake in PACS Group during the second quarter worth approximately $4,425,000. Bank of New York Mellon Corp acquired a new stake in PACS Group during the second quarter worth approximately $2,445,000. Allspring Global Investments Holdings LLC acquired a new stake in PACS Group during the second quarter worth approximately $7,513,000. Seven Grand Managers LLC boosted its position in PACS Group by 100.0% during the third quarter. Seven Grand Managers LLC now owns 150,000 shares of the company’s stock worth $5,996,000 after acquiring an additional 75,000 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in PACS Group during the third quarter worth approximately $548,000.

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.