Citigroup Initiates Coverage on PACS Group (NYSE:PACS)

Stock analysts at Citigroup started coverage on shares of PACS Group (NYSE:PACS) in a report released on Wednesday, MarketBeat reports. The firm set a “buy” rating and a $45.00 price target on the stock. Citigroup’s price target suggests a potential upside of 17.37% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Royal Bank of Canada lifted their target price on shares of PACS Group from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Wednesday, May 15th. Macquarie initiated coverage on PACS Group in a report on Friday, June 28th. They issued an “outperform” rating and a $35.00 target price on the stock. Truist Financial increased their target price on PACS Group from $36.00 to $44.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Stephens upped their price target on shares of PACS Group from $37.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Finally, Oppenheimer increased their price objective on shares of PACS Group from $32.00 to $40.00 and gave the company an “outperform” rating in a research report on Tuesday, August 13th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $37.57.

PACS Group Trading Up 0.2 %

PACS stock opened at $38.34 on Wednesday. PACS Group has a fifty-two week low of $22.61 and a fifty-two week high of $42.25. The stock’s 50 day moving average price is $35.44. 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 (NYSE:PACS) last released its earnings results on Monday, August 12th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.42). The firm had revenue of $981.80 million for the quarter, compared to analysts’ expectations of $919.22 million. The company’s quarterly revenue was up 29.1% compared to the same quarter last year. Equities research analysts anticipate that PACS Group will post 1.03 earnings per share for the current fiscal year.

Institutional Trading of PACS Group

A number of institutional investors have recently made changes to their positions in the stock. Amalgamated Bank purchased a new position in shares of PACS Group during the second quarter valued at approximately $25,000. Sandia Investment Management LP bought a new stake in PACS Group in the 2nd quarter worth approximately $295,000. The Manufacturers Life Insurance Company purchased a new stake in PACS Group during the 2nd quarter valued at $302,000. Oppenheimer Asset Management Inc. bought a new position in shares of PACS Group during the 2nd quarter valued at $552,000. Finally, Marshall Wace LLP purchased a new position in shares of PACS Group in the 2nd quarter worth $733,000.

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.