PACS Group (NYSE:PACS) Coverage Initiated at Citigroup

Research analysts at Citigroup started coverage on shares of PACS Group (NYSE:PACS) in a report released on Wednesday, Marketbeat.com reports. The firm set a “buy” rating and a $45.00 price target on the stock. Citigroup’s price target points to a potential upside of 12.64% from the company’s current price.

Several other research firms also recently commented on PACS. Stephens raised their price objective on shares of PACS Group from $37.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. Macquarie assumed coverage on PACS Group in a report on Friday, June 28th. They issued an “outperform” rating and a $35.00 price target for the company. Royal Bank of Canada boosted their price objective on PACS Group from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Wednesday, May 15th. Oppenheimer raised their target price on PACS Group from $32.00 to $40.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 13th. Finally, Truist Financial upped their price target on PACS Group from $36.00 to $44.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $37.57.

PACS Group Trading Up 1.1 %

NYSE PACS opened at $39.95 on Wednesday. The business’s fifty day simple moving average is $35.83. 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 has a one year low of $22.61 and a one year high of $42.25.

PACS Group (NYSE:PACS) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.42). The firm had revenue of $981.80 million for the quarter, compared to the consensus estimate of $919.22 million. The firm’s revenue for the quarter was up 29.1% on a year-over-year basis. Equities analysts predict that PACS Group will post 1.03 EPS for the current year.

Institutional Trading of PACS Group

Several institutional investors have recently added to or reduced their stakes in the business. Ghisallo Capital Management LLC bought a new stake in PACS Group in the second quarter valued at approximately $8,850,000. Point72 Asset Management L.P. bought a new stake in PACS Group during the 2nd quarter valued at $6,677,000. Lighthouse Investment Partners LLC purchased a new stake in PACS Group during the 2nd quarter valued at $8,946,000. The Manufacturers Life Insurance Company purchased a new stake in PACS Group during the 2nd quarter valued at $302,000. Finally, Millennium Management LLC bought a new stake in PACS Group in the 2nd quarter worth $8,905,000.

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.