PACS Group (NYSE:PACS) Coverage Initiated by Analysts at Citigroup

Citigroup initiated coverage on shares of PACS Group (NYSE:PACS) in a report issued on Wednesday, MarketBeat.com reports. The firm issued a buy rating and a $45.00 target price on the stock.

Several other research analysts have also weighed in on the company. 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. Royal Bank of Canada raised their price target on shares of PACS Group from $30.00 to $32.00 and gave the stock an outperform rating in a report on Wednesday, May 15th. Stephens boosted their price objective on shares of PACS Group from $37.00 to $40.00 and gave the company an overweight rating in a research report on Tuesday, August 13th. Oppenheimer increased their target price on shares of PACS Group from $32.00 to $40.00 and gave the stock an outperform rating in a research report on Tuesday, August 13th. Finally, Macquarie started coverage on shares of PACS Group in a report on Friday, June 28th. They set an outperform rating and a $35.00 price target on the stock. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of Buy and a consensus price target of $37.57.

PACS Group Price Performance

PACS opened at $39.48 on Wednesday. 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 stock’s fifty day moving average is $35.63. PACS Group has a fifty-two week low of $22.61 and a fifty-two week high of $42.25.

PACS Group (NYSE:PACS) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.42). The company had revenue of $981.80 million for the quarter, compared to analysts’ expectations of $919.22 million. PACS Group’s revenue for the quarter was up 29.1% on a year-over-year basis. As a group, equities analysts expect that PACS Group will post 1.03 EPS for the current year.

Institutional Trading of PACS Group

A number of institutional investors have recently added to or reduced their stakes in the business. Amalgamated Bank acquired a new position in shares of PACS Group during the 2nd quarter worth $25,000. Sandia Investment Management LP bought a new stake in PACS Group in the second quarter worth $295,000. The Manufacturers Life Insurance Company acquired a new position in PACS Group during the second quarter worth $302,000. Oppenheimer Asset Management Inc. bought a new position in PACS Group during the second quarter valued at about $552,000. Finally, Marshall Wace LLP acquired a new stake in shares of PACS Group in the second quarter worth about $733,000.

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.