Brokerages Set PACS Group, Inc. (NYSE:PACS) Price Target at $37.57

PACS Group, Inc. (NYSE:PACS) has been given an average recommendation of “Buy” by the seven ratings firms that are covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a buy recommendation. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $37.57.

A number of research analysts recently commented on PACS shares. Macquarie initiated coverage on shares of PACS Group in a report on Friday, June 28th. They issued an “outperform” rating and a $35.00 price target for the company. Oppenheimer lifted their target price on PACS Group from $32.00 to $40.00 and gave the stock an “outperform” rating in a report on Tuesday, August 13th. Citigroup assumed coverage on PACS Group in a research report on Wednesday, September 11th. They set a “buy” rating and a $45.00 target price on the stock. Truist Financial raised their price target on PACS Group from $36.00 to $44.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Finally, Stephens boosted their price objective on shares of PACS Group from $37.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, August 13th.

Hedge Funds Weigh In On PACS Group

Several hedge funds have recently bought and sold shares of the business. Amalgamated Bank purchased a new stake in shares of PACS Group during the second quarter valued at $25,000. Sandia Investment Management LP bought a new stake in PACS Group during the 2nd quarter valued at about $295,000. The Manufacturers Life Insurance Company purchased a new stake in PACS Group in the 2nd quarter valued at about $302,000. SG Americas Securities LLC bought a new position in PACS Group in the 3rd quarter worth about $548,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of PACS Group during the second quarter worth approximately $552,000.

PACS Group Stock Performance

NYSE PACS opened at $38.49 on Thursday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.71 and a quick ratio of 1.71. PACS Group has a 1-year low of $22.61 and a 1-year high of $42.25. The company’s 50 day moving average price is $38.42.

PACS Group (NYSE:PACS) last posted 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 company had revenue of $981.80 million for the quarter, compared to analysts’ expectations of $919.22 million. The firm’s revenue for the quarter was up 29.1% compared to the same quarter last year. As a group, equities analysts anticipate that PACS Group will post 1.03 EPS for the current year.

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.