Analysts Set PACS Group, Inc. (NYSE:PACS) Price Target at $48.00

PACS Group, Inc. (NYSE:PACS) has been given an average recommendation of “Moderate Buy” by the seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $48.00.

PACS has been the subject of several analyst reports. Zacks Research downgraded shares of PACS Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. UBS Group upped their target price on shares of PACS Group from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Truist Financial upped their target price on shares of PACS Group from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, May 18th. Oppenheimer upped their target price on shares of PACS Group from $42.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of PACS Group in a research note on Friday, March 27th.

Insider Buying and Selling at PACS Group

In other news, insider John Todd Mitchell sold 52,763 shares of the company’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $38.02, for a total value of $2,006,049.26. Following the completion of the transaction, the insider directly owned 830,955 shares in the company, valued at approximately $31,592,909.10. This represents a 5.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 70.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Hollencrest Capital Management purchased a new position in shares of PACS Group in the fourth quarter valued at $27,000. Larson Financial Group LLC boosted its stake in shares of PACS Group by 127.0% in the fourth quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock valued at $42,000 after purchasing an additional 612 shares during the period. KBC Group NV purchased a new position in shares of PACS Group in the first quarter valued at $42,000. Western Wealth Management LLC bought a new position in PACS Group during the 1st quarter valued at $48,000. Finally, Physician Wealth Advisors Inc. bought a new position in PACS Group during the 4th quarter valued at $74,000.

PACS Group Price Performance

PACS opened at $36.39 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.27. PACS Group has a 52-week low of $7.50 and a 52-week high of $43.08. The company has a 50 day moving average of $35.58 and a two-hundred day moving average of $35.83. The company has a market cap of $5.76 billion and a P/E ratio of 23.33.

PACS Group (NYSE:PACS) last released its quarterly earnings data on Monday, May 11th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.08. PACS Group had a net margin of 4.49% and a return on equity of 26.47%. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.36 billion. On average, analysts expect that PACS Group will post 2.19 earnings per share for the current year.

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.