PACS Group (NYSE:PACS) Sets New 1-Year Low After Analyst Downgrade

PACS Group, Inc. (NYSE:PACS) reached a new 52-week low during trading on Monday after Stephens lowered their price target on the stock from $48.00 to $31.00. Stephens currently has an overweight rating on the stock. PACS Group traded as low as $16.71 and last traded at $16.83, with a volume of 1259903 shares. The stock had previously closed at $17.41.

Several other equities research analysts have also recently commented on the company. Truist Financial increased their price objective on PACS Group from $44.00 to $46.00 and gave the company a “buy” rating in a research report on Monday, October 14th. UBS Group began coverage on PACS Group in a research report on Wednesday, October 9th. They set a “buy” rating and a $50.00 price objective on the stock. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $40.00 price objective on shares of PACS Group in a research report on Wednesday, November 6th. Citigroup started coverage on PACS Group in a research report on Wednesday, September 11th. They issued a “buy” rating and a $45.00 target price on the stock. Finally, Oppenheimer raised their target price on PACS Group from $32.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 13th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $39.88.

Institutional Trading of PACS Group

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

PACS Group Stock Performance

The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.82. The company has a 50-day moving average price of $36.69 and a two-hundred day moving average price of $33.71.

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.