PACS Group (NYSE:PACS) Given Overweight Rating at JPMorgan Chase & Co.

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

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

PACS Group Price Performance

NYSE PACS traded up $0.65 on Wednesday, reaching $18.74. The company had a trading volume of 1,104,069 shares, compared to its average volume of 775,697. PACS Group has a 1 year low of $16.74 and a 1 year high of $43.92. The firm has a 50-day moving average of $39.28 and a 200-day moving average of $33.85. 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 (NYSE:PACS) last released its earnings results on Monday, August 12th. The company reported ($0.07) EPS 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. PACS Group’s revenue was up 29.1% compared to the same quarter last year. On average, equities analysts anticipate that PACS Group will post 1.03 EPS for the current year.

Institutional Investors Weigh In On PACS Group

Several large investors have recently added to or reduced their stakes in PACS. Amalgamated Bank acquired a new stake in PACS Group in the second quarter worth $25,000. Whittier Trust Co. increased its holdings in shares of 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 purchasing an additional 834 shares during the period. US Bancorp DE increased its holdings in shares of 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 purchasing an additional 2,404 shares during the period. Sandia Investment Management LP acquired a new position in shares of PACS Group during the second quarter valued at $295,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of PACS Group during the second quarter valued at $302,000.

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.