Citigroup Begins Coverage on PACS Group (NYSE:PACS)

Citigroup assumed coverage on shares of PACS Group (NYSE:PACS) in a report published on Wednesday, MarketBeat.com reports. The firm issued a buy rating and a $45.00 price target on the stock.

Other equities analysts have also issued research reports about the company. Truist Financial boosted their target price on PACS Group from $36.00 to $44.00 and gave the stock a buy rating in a research report on Thursday, August 15th. Oppenheimer boosted their price objective on shares of PACS Group from $32.00 to $40.00 and gave the company an outperform rating in a report on Tuesday, August 13th. Macquarie started coverage on shares of PACS Group in a report on Friday, June 28th. They issued an outperform rating and a $35.00 target price on the stock. Stephens boosted their target price on shares of PACS Group from $37.00 to $40.00 and gave the company an overweight rating in a research note on Tuesday, August 13th. Finally, Royal Bank of Canada increased their price target on PACS Group from $30.00 to $32.00 and gave the company an outperform rating in a report on Wednesday, May 15th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of Buy and an average target price of $37.57.

PACS Group Trading Up 1.8 %

Shares of NYSE:PACS opened at $40.72 on Wednesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.71 and a quick ratio of 1.71. The company’s fifty day moving average is $36.05. PACS Group has a 12-month low of $22.61 and a 12-month high of $42.25.

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 firm had revenue of $981.80 million during the quarter, compared to analysts’ expectations of $919.22 million. The firm’s revenue for the quarter was up 29.1% on a year-over-year basis. 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 and other institutional investors have recently bought and sold shares of the stock. Caas Capital Management LP bought a new position in shares of PACS Group in the second quarter worth approximately $1,386,000. Bank of New York Mellon Corp bought a new position in PACS Group in the 2nd quarter worth $2,445,000. Allspring Global Investments Holdings LLC purchased a new stake in PACS Group in the 2nd quarter worth $7,513,000. Rhumbline Advisers bought a new stake in PACS Group during the second quarter valued at about $870,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of PACS Group in the second quarter valued at about $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.