Royal Bank Of Canada Raises PACS Group (NYSE:PACS) Price Target to $57.00

PACS Group (NYSE:PACS) had its price target lifted by investment analysts at Royal Bank Of Canada from $52.00 to $57.00 in a report released on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target would indicate a potential upside of 20.74% from the company’s previous close.

Other analysts have also recently issued research reports about the company. Truist Financial lifted their price objective on PACS Group from $52.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday. Weiss Ratings raised PACS Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 8th. Wall Street Zen upgraded shares of PACS Group from a “buy” rating to a “strong-buy” rating in a report on Monday, June 15th. Zacks Research lowered shares of PACS Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Finally, UBS Group restated a “buy” rating and set a $60.00 target price on shares of PACS Group in a report on Thursday. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, PACS Group currently has a consensus rating of “Moderate Buy” and an average price target of $54.20.

PACS Group Price Performance

PACS stock traded up $1.57 during trading on Thursday, hitting $47.21. The company had a trading volume of 574,687 shares, compared to its average volume of 944,890. The business has a 50 day moving average of $41.32 and a 200 day moving average of $37.71. The firm has a market capitalization of $7.47 billion, a price-to-earnings ratio of 27.40, a P/E/G ratio of 1.34 and a beta of -0.08. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.27. PACS Group has a fifty-two week low of $7.50 and a fifty-two week high of $49.49.

PACS Group (NYSE:PACS) last released its earnings results on Tuesday, August 4th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.54 by $0.09. PACS Group had a net margin of 4.85% and a return on equity of 30.77%. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.41 billion. As a group, research analysts predict that PACS Group will post 2.23 earnings per share for the current year.

Insider Transactions at PACS Group

In other news, CAO Michelle Renee Lewis sold 4,137 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $45.04, for a total transaction of $186,330.48. Following the sale, the chief accounting officer owned 355,338 shares in the company, valued at approximately $16,004,423.52. This represents a 1.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Hancock sold 4,966 shares of the firm’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $45.06, for a total transaction of $223,767.96. Following the completion of the sale, the director owned 53,920,512 shares of the company’s stock, valued at $2,429,658,270.72. The trade was a 0.01% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 796,524 shares of company stock valued at $31,611,396 in the last quarter. 70.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PACS Group

Several large investors have recently modified their holdings of PACS. Financial Management Professionals Inc. boosted its stake in shares of PACS Group by 54.9% during the 2nd quarter. Financial Management Professionals Inc. now owns 663 shares of the company’s stock worth $28,000 after buying an additional 235 shares during the last quarter. Hollencrest Capital Management bought a new position in shares of PACS Group during the 4th quarter worth approximately $27,000. Larson Financial Group LLC increased its holdings in shares of PACS Group by 127.0% during the 4th quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $42,000 after acquiring an additional 612 shares during the last quarter. KBC Group NV bought a new position in PACS Group during the first quarter worth $42,000. Finally, Western Wealth Management LLC bought a new position in shares of PACS Group in the first quarter valued at about $48,000.

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.