PACS Group (NYSE:PACS) Hits New 52-Week Low – Time to Sell?

PACS Group, Inc. (NYSE:PACS)’s share price hit a new 52-week low on Wednesday . The company traded as low as $18.42 and last traded at $18.72, with a volume of 784455 shares trading hands. The stock had previously closed at $29.54.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PACS. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $40.00 price target on shares of PACS Group in a research note on Wednesday. Oppenheimer raised their price target on shares of PACS Group from $32.00 to $40.00 and gave the company an “outperform” rating in a research note on Tuesday, August 13th. Citigroup assumed 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 on the stock. Stephens increased their price objective on shares of PACS Group from $37.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, August 13th. Finally, Truist Financial increased their price objective on shares of PACS Group from $44.00 to $46.00 and gave the company a “buy” rating in a report on Monday, October 14th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, PACS Group has an average rating of “Buy” and an average target price of $41.00.

PACS Group Price Performance

The company has a debt-to-equity ratio of 0.82, a current ratio of 1.71 and a quick ratio of 1.71. The company’s fifty day moving average is $38.89 and its two-hundred day moving average is $33.76.

PACS Group (NYSE:PACS) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate 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% on a year-over-year basis. On average, sell-side analysts expect that PACS Group, Inc. will post 1.03 EPS for the current year.

Institutional Investors Weigh In On PACS Group

Several institutional investors have recently modified their holdings of the company. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of PACS Group during the 3rd quarter worth $777,000. Royce & Associates LP lifted its position in shares of PACS Group by 2.2% during the 3rd quarter. Royce & Associates LP now owns 465,198 shares of the company’s stock worth $18,594,000 after purchasing an additional 10,002 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in PACS Group by 47.3% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 27,545 shares of the company’s stock worth $1,101,000 after acquiring an additional 8,841 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in PACS Group during the 3rd quarter worth $1,229,000. Finally, Lisanti Capital Growth LLC acquired a new stake in PACS Group during the 3rd quarter worth $4,259,000.

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.