PACS Group (NYSE:PACS) Reaches New 1-Year Low – Here’s Why

PACS Group, Inc. (NYSE:PACS)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as $12.71 and last traded at $12.77, with a volume of 43284 shares. The stock had previously closed at $13.01.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PACS. Citigroup started coverage on PACS Group in a report on Wednesday, September 11th. They issued a “buy” rating and a $45.00 target price for the company. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $18.00 target price on shares of PACS Group in a research report on Tuesday, December 17th. Truist Financial boosted their price target on shares of PACS Group from $44.00 to $46.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Stephens decreased their price objective on shares of PACS Group from $48.00 to $31.00 and set an “overweight” rating for the company in a report on Monday, November 18th. Finally, UBS Group started coverage on shares of PACS Group in a research note on Wednesday, October 9th. They issued a “buy” rating and a $50.00 target price on the stock. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, PACS Group presently has an average rating of “Moderate Buy” and a consensus target price of $37.13.

PACS Group Stock Up 0.1 %

The firm has a 50 day simple moving average of $24.10 and a 200 day simple moving average of $31.42. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.82.

Hedge Funds Weigh In On PACS Group

Hedge funds have recently bought and sold shares of the company. Amalgamated Bank bought a new position in PACS Group in the 2nd quarter valued at $25,000. Whittier Trust Co. boosted its stake in PACS Group by 152.2% during the third quarter. Whittier Trust Co. now owns 1,382 shares of the company’s stock valued at $55,000 after buying an additional 834 shares during the period. Crewe Advisors LLC bought a new position in PACS Group in the 3rd quarter worth about $66,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in PACS Group in the 3rd quarter worth about $251,000. Finally, US Bancorp DE boosted its position in shares of PACS Group by 56.2% during the 3rd 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 last quarter.

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.