PACS Group (NYSE:PACS) Price Target Raised to $41.00

PACS Group (NYSE:PACS) had its price target increased by Citigroup from $34.00 to $41.00 in a research report released on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

PACS has been the subject of several other reports. Royal Bank of Canada lifted their target price on shares of PACS Group from $30.00 to $32.00 and gave the stock an outperform rating in a research note on Wednesday, May 15th. Stephens reaffirmed an overweight rating and set a $31.00 price target on shares of PACS Group in a research report on Tuesday, May 14th. Macquarie initiated coverage on PACS Group in a research report on Friday, June 28th. They issued an outperform rating and a $35.00 price objective for the company. Truist Financial lifted their target price on PACS Group from $32.00 to $36.00 and gave the company a buy rating in a research report on Monday, July 15th. Finally, JPMorgan Chase & Co. initiated coverage on PACS Group in a report on Monday, May 6th. They set an overweight rating and a $27.00 price target for the company. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, PACS Group currently has a consensus rating of Buy and a consensus target price of $37.00.

PACS Group Stock Performance

PACS stock opened at $38.74 on Tuesday. PACS Group has a 1 year low of $22.61 and a 1 year high of $40.32. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 5.75. The firm has a 50 day moving average of $32.14.

PACS Group (NYSE:PACS) last issued its 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 business had revenue of $981.80 million during the quarter, compared to the consensus estimate of $919.22 million. PACS Group’s revenue was up 29.1% compared to the same quarter last year. As a group, equities research analysts predict that PACS Group will post 1.4 EPS for the current fiscal year.

Hedge Funds Weigh In On PACS Group

Several hedge funds have recently bought and sold shares of the company. Caas Capital Management LP acquired a new position in PACS Group in the 2nd quarter valued at about $1,386,000. Bank of New York Mellon Corp purchased a new position in shares of PACS Group in the second quarter valued at approximately $2,445,000. Allspring Global Investments Holdings LLC acquired a new position in shares of PACS Group in the second quarter valued at approximately $7,513,000. Rhumbline Advisers purchased a new stake in PACS Group during the 2nd quarter worth approximately $870,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in PACS Group during the 2nd quarter worth approximately $552,000.

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.