PACS Group, Inc. (NYSE:PACS) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of PACS Group, Inc. (NYSE:PACS) have been given a consensus rating of “Buy” by the eight analysts that are presently covering the firm, MarketBeat.com reports. Eight research analysts have rated the stock with a buy recommendation. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $39.88.

Several brokerages have recently commented on PACS. Truist Financial raised their target price on PACS Group from $44.00 to $46.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. UBS Group started coverage on shares of PACS Group in a research report on Wednesday, October 9th. They set a “buy” rating and a $50.00 price objective on the stock. Citigroup began coverage on shares of PACS Group in a research report on Wednesday, September 11th. They issued a “buy” rating and a $45.00 target price for the company. Stephens lowered their price target on shares of PACS Group from $48.00 to $31.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Oppenheimer upped their price target 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.

PACS Group Stock Down 2.8 %

PACS stock opened at $16.77 on Friday. The firm has a 50-day moving average of $35.40 and a two-hundred day moving average of $33.48. PACS Group has a one year low of $16.53 and a one year high of $43.92. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.82.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Amalgamated Bank bought a new stake in PACS Group during the second quarter worth approximately $25,000. Whittier Trust Co. lifted its stake in shares of PACS Group by 152.2% in the third 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 last quarter. Crewe Advisors LLC bought a new stake in shares of PACS Group during the 3rd quarter worth $66,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in PACS Group in the 3rd quarter valued at $251,000. Finally, US Bancorp DE raised its holdings in PACS Group by 56.2% in the 3rd quarter. US Bancorp DE now owns 6,681 shares of the company’s stock worth $267,000 after acquiring an additional 2,404 shares during the period.

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.