PACS Group’s (PACS) “Overweight” Rating Reaffirmed at JPMorgan Chase & Co.

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

PACS has been the subject of a number of other reports. Oppenheimer boosted their price objective on shares of PACS Group from $32.00 to $40.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 13th. UBS Group initiated coverage on PACS Group in a research report on Wednesday, October 9th. They issued a “buy” rating and a $50.00 price target on the stock. Truist Financial boosted their price objective on PACS Group from $44.00 to $46.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Stephens raised their target price on PACS Group from $37.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, August 13th. Finally, Citigroup began coverage on PACS Group in a report on Wednesday, September 11th. They set a “buy” rating and a $45.00 price target for the company. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, PACS Group presently has a consensus rating of “Buy” and an average target price of $41.00.

PACS Group Price Performance

Shares of NYSE:PACS opened at $21.33 on Wednesday. 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 has a 1 year low of $16.74 and a 1 year high of $43.92. The firm has a fifty day moving average price of $38.52 and a 200 day moving average price of $33.81.

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 firm had revenue of $981.80 million during the quarter, compared to analyst estimates of $919.22 million. The company’s revenue for the quarter was up 29.1% on a year-over-year basis. On average, equities analysts expect that PACS Group will post 1.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PACS Group

Hedge funds have recently added to or reduced their stakes in the stock. Amalgamated Bank acquired a new stake in PACS Group in the second quarter worth $25,000. Whittier Trust Co. raised its stake in PACS Group by 152.2% during the 3rd quarter. Whittier Trust Co. now owns 1,382 shares of the company’s stock worth $55,000 after buying an additional 834 shares during the period. US Bancorp DE lifted its holdings in PACS Group by 56.2% during the third quarter. US Bancorp DE now owns 6,681 shares of the company’s stock worth $267,000 after acquiring an additional 2,404 shares in the last quarter. Sandia Investment Management LP bought a new position in PACS Group during the second quarter worth about $295,000. Finally, The Manufacturers Life Insurance Company acquired a new position in PACS Group in the second quarter valued at about $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.