PACS Group, Inc. (NYSE:PACS) Given Consensus Recommendation of “Buy” by Analysts

PACS Group, Inc. (NYSE:PACS) has been assigned an average rating of “Buy” from the seven research firms that are covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $32.14.

PACS has been the subject of a number of research reports. Royal Bank of Canada boosted their price objective on PACS Group from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Wednesday, May 15th. Truist Financial upped their price target on shares of PACS Group from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Macquarie started coverage on shares of PACS Group in a research report on Friday, June 28th. They set an “outperform” rating and a $35.00 price objective on the stock. Citigroup began coverage on shares of PACS Group in a research note on Monday, May 6th. They issued a “buy” rating and a $32.00 price objective on the stock. Finally, Oppenheimer increased their target price on shares of PACS Group from $31.00 to $32.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 15th.

Institutional Trading of PACS Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Caas Capital Management LP acquired a new position in PACS Group during the second quarter worth $1,386,000. Bank of New York Mellon Corp acquired a new position in PACS Group during the second quarter worth about $2,445,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of PACS Group in the second quarter valued at about $7,513,000.

PACS Group Price Performance

Shares of PACS opened at $34.88 on Friday. The company has a debt-to-equity ratio of 5.75, a current ratio of 1.56 and a quick ratio of 1.56. PACS Group has a 1-year low of $22.61 and a 1-year high of $35.18. The company has a fifty day moving average of $30.40.

PACS Group (NYSE:PACS) last posted its earnings results on Monday, May 13th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.08. The firm had revenue of $934.72 million for the quarter, compared to analyst estimates of $893.07 million. As a group, equities analysts expect that PACS Group will post 1.51 EPS for the current fiscal 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.