Truist Financial Lowers PACS Group (NYSE:PACS) Price Target to $32.00

PACS Group (NYSE:PACS) had its target price decreased by equities research analysts at Truist Financial from $46.00 to $32.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price target indicates a potential upside of 139.70% from the company’s current price.

A number of other equities analysts have also weighed in on PACS. Citigroup started coverage on PACS Group in a research report on Wednesday, September 11th. They issued a “buy” rating and a $45.00 target price for the company. UBS Group assumed coverage on shares of PACS Group in a report on Wednesday, October 9th. They issued a “buy” rating and a $50.00 target price for the company. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $18.00 price target on shares of PACS Group in a report on Tuesday, December 17th. Finally, Stephens decreased their price target on PACS Group from $48.00 to $31.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, PACS Group currently has an average rating of “Moderate Buy” and an average target price of $35.38.

PACS Group Stock Up 3.2 %

NYSE:PACS opened at $13.35 on Monday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.71 and a current ratio of 1.71. PACS Group has a fifty-two week low of $12.54 and a fifty-two week high of $43.92. The firm has a 50-day simple moving average of $18.98 and a two-hundred day simple moving average of $30.37.

Institutional Trading of PACS Group

A number of institutional investors have recently made changes to their positions in PACS. Amalgamated Bank boosted its holdings in PACS Group by 56.7% in the third quarter. Amalgamated Bank now owns 1,349 shares of the company’s stock valued at $54,000 after purchasing an additional 488 shares during the last quarter. Whittier Trust Co. boosted its stake in shares of PACS Group by 152.2% in the third 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 stake in PACS Group during the third quarter worth about $66,000. US Bancorp DE raised 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 valued at $267,000 after acquiring an additional 2,404 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in PACS Group by 45.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 14,882 shares of the company’s stock worth $595,000 after purchasing an additional 4,660 shares in the last quarter.

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.