Macquarie Issues Pessimistic Forecast for PACS Group (NYSE:PACS) Stock Price

PACS Group (NYSE:PACS) had its price target cut by equities research analysts at Macquarie from $42.00 to $24.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Macquarie’s target price indicates a potential upside of 77.12% from the company’s current price.

A number of other research firms have also weighed in on PACS. Citigroup began coverage on shares of PACS Group in a research note on Wednesday, September 11th. They set a “buy” rating and a $45.00 price objective for the company. Truist Financial decreased their target price on PACS Group from $46.00 to $32.00 and set a “buy” rating on the stock in a report on Monday. Stephens lowered their target price on shares of PACS Group from $48.00 to $31.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $18.00 price objective on shares of PACS Group in a report on Tuesday, December 17th. Finally, UBS Group assumed coverage on PACS Group in a research note on Wednesday, October 9th. They set a “buy” rating and a $50.00 price target for the company. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

PACS Group Stock Performance

Shares of PACS traded up $0.20 during mid-day trading on Monday, hitting $13.55. 76,602 shares of the company’s stock traded hands, compared to its average volume of 440,841. The business’s 50-day moving average price is $18.98 and its 200-day moving average price is $30.37. PACS Group has a 1 year low of $12.54 and a 1 year high of $43.92. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.71 and a quick ratio of 1.71.

Institutional Trading of PACS Group

A number of hedge funds and other institutional investors have recently modified their holdings of PACS. Amalgamated Bank acquired a new position in shares of PACS Group in the second quarter valued at approximately $25,000. Whittier Trust Co. increased its stake in PACS Group by 152.2% in the third quarter. Whittier Trust Co. now owns 1,382 shares of the company’s stock valued at $55,000 after purchasing an additional 834 shares during the last quarter. Crewe Advisors LLC acquired a new position in PACS Group in the third quarter valued at $66,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of PACS Group in the 3rd quarter valued at about $251,000. Finally, US Bancorp DE boosted its stake in PACS Group by 56.2% during the 3rd quarter. US Bancorp DE now owns 6,681 shares of the company’s stock worth $267,000 after purchasing an additional 2,404 shares during the period.

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.