PACS Group (NYSE:PACS) Hits New 52-Week High – Here’s Why

PACS Group, Inc. (NYSE:PACS) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as $43.69 and last traded at $43.68, with a volume of 28962 shares changing hands. The stock had previously closed at $42.68.

Wall Street Analyst Weigh In

PACS has been the topic of a number of recent analyst reports. Oppenheimer boosted their price objective on shares of PACS Group from $32.00 to $40.00 and gave the stock an “outperform” rating in a report on Tuesday, August 13th. Stephens increased their price target on PACS Group from $37.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, August 13th. UBS Group began coverage on PACS Group in a report on Wednesday, October 9th. They set a “buy” rating and a $50.00 price objective on the stock. Truist Financial upped their target price on PACS Group from $44.00 to $46.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, Citigroup began coverage on shares of PACS Group in a research note on Wednesday, September 11th. They issued a “buy” rating and a $45.00 price target for the company. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $39.38.

PACS Group Stock Performance

The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.71 and a current ratio of 1.71. The firm’s fifty day moving average price is $40.10 and its 200 day moving average price is $33.60.

PACS Group (NYSE:PACS) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.42). The business had revenue of $981.80 million for the quarter, compared to the consensus estimate of $919.22 million. PACS Group’s revenue was up 29.1% compared to the same quarter last year. As a group, equities analysts expect that PACS Group, Inc. will post 1.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Amalgamated Bank acquired a new position in PACS Group during the second quarter valued at approximately $25,000. Whittier Trust Co. raised its holdings in shares of PACS Group by 152.2% during the third quarter. Whittier Trust Co. now owns 1,382 shares of the company’s stock worth $55,000 after acquiring an additional 834 shares during the period. US Bancorp DE lifted its position in PACS Group by 56.2% in the 3rd quarter. US Bancorp DE now owns 6,681 shares of the company’s stock valued at $267,000 after acquiring an additional 2,404 shares in the last quarter. Sandia Investment Management LP bought a new position in PACS Group during the 2nd quarter worth about $295,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of PACS Group in the second quarter valued at about $302,000.

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.