PACS Group (NYSE:PACS) Shares Gap Up – Still a Buy?

PACS Group, Inc. (NYSE:PACS)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $13.11, but opened at $14.00. PACS Group shares last traded at $13.47, with a volume of 87,758 shares traded.

Wall Street Analysts Forecast Growth

PACS has been the topic of several analyst reports. UBS Group started coverage on PACS Group in a research note on Wednesday, October 9th. They issued a “buy” rating and a $50.00 price objective on the stock. Stephens reduced their price target on PACS Group from $48.00 to $31.00 and set an “overweight” rating on the stock in a research report on Monday, November 18th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $18.00 price objective on shares of PACS Group in a research report on Tuesday, December 17th. Truist Financial raised their target price 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. Finally, Citigroup assumed coverage on shares of PACS Group in a report on Wednesday, September 11th. They set a “buy” rating and a $45.00 price target for the company. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, PACS Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.13.

PACS Group Price Performance

The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.82. The stock has a fifty day moving average of $20.13 and a 200-day moving average of $30.60.

Institutional Investors Weigh In On PACS Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Amalgamated Bank acquired a new stake in shares of PACS Group during the second quarter worth about $25,000. Whittier Trust Co. grew its stake in PACS Group by 152.2% during the 3rd quarter. Whittier Trust Co. now owns 1,382 shares of the company’s stock worth $55,000 after buying an additional 834 shares during the last quarter. Crewe Advisors LLC acquired a new position in PACS Group during the third quarter worth approximately $66,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in PACS Group in the third quarter valued at approximately $251,000. Finally, US Bancorp DE boosted its holdings in shares of PACS Group by 56.2% in the third 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 during the period.

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.