PACS Group (NYSE:PACS) Receives Overweight Rating from JPMorgan Chase & Co.

JPMorgan Chase & Co. reaffirmed their overweight rating on shares of PACS Group (NYSE:PACS) in a research report released on Wednesday, Marketbeat.com reports. The brokerage currently has a $40.00 price target on the stock.

Several other brokerages have also recently weighed in on PACS. Truist Financial raised their price target on shares of PACS Group from $44.00 to $46.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Citigroup began coverage on shares of PACS Group in a research note on Wednesday, September 11th. They issued a “buy” rating and a $45.00 price target on the stock. Oppenheimer increased their price objective on shares of PACS Group from $32.00 to $40.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 13th. Stephens raised their price objective on PACS Group from $37.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, August 13th. Finally, UBS Group assumed coverage on PACS Group in a report on Wednesday, October 9th. They set a “buy” rating and a $50.00 target price on the stock. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, PACS Group presently has an average rating of “Buy” and an average price target of $41.00.

PACS Group Stock Up 7.6 %

Shares of NYSE PACS opened at $21.33 on Wednesday. The company has a fifty day moving average price of $38.52 and a 200 day moving average price of $33.81. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.82. PACS Group has a 1-year low of $16.74 and a 1-year high of $43.92.

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

Institutional Trading of PACS Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Amalgamated Bank bought a new position in shares of PACS Group during the 2nd quarter worth approximately $25,000. Whittier Trust Co. lifted its holdings in 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. 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. Sandia Investment Management LP acquired a new position in shares of PACS Group in the second quarter valued at $295,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of PACS Group in the second quarter valued at about $302,000.

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.