PACS Group (NYSE:PACS) Price Target Cut to $24.00 by Analysts at Macquarie

PACS Group (NYSE:PACS) had its price target dropped by Macquarie from $42.00 to $24.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Macquarie’s price objective suggests a potential upside of 77.12% from the company’s previous close.

PACS has been the topic of several other reports. UBS Group initiated coverage on PACS Group in a research report on Wednesday, October 9th. They issued a “buy” rating and a $50.00 target price on the stock. Citigroup began coverage on PACS Group in a report on Wednesday, September 11th. They issued a “buy” rating and a $45.00 price target on the stock. Truist Financial reduced their target price on PACS Group from $46.00 to $32.00 and set a “buy” rating for the company in a report on Monday. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $18.00 price target on shares of PACS Group in a report on Tuesday, December 17th. Finally, Stephens decreased their target price on PACS Group from $48.00 to $31.00 and set an “overweight” rating for the company in a research report on Monday, November 18th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $34.00.

PACS Group Trading Up 1.5 %

Shares of PACS stock traded up $0.20 during trading hours on Monday, reaching $13.55. 76,602 shares of the company’s stock were exchanged, compared to its average volume of 440,841. The company’s 50 day moving average is $18.98 and its two-hundred day moving average 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 quick ratio of 1.71 and a current ratio of 1.71.

Hedge Funds Weigh In On PACS Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Amalgamated Bank bought a new position in shares of PACS Group in the 2nd quarter worth $25,000. Whittier Trust Co. increased its position in shares of PACS Group by 152.2% during the 3rd 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 purchased a new position in PACS Group in the third quarter valued at about $66,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in PACS Group in the third quarter worth $251,000. Finally, US Bancorp DE boosted its position in PACS Group by 56.2% during the third 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.

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.