Stephens Lowers PACS Group (NYSE:PACS) Price Target to $31.00

PACS Group (NYSE:PACS) had its price objective lowered by Stephens from $48.00 to $31.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Oppenheimer increased their price objective on PACS Group from $32.00 to $40.00 and gave the stock an “outperform” rating in a report on Tuesday, August 13th. UBS Group assumed coverage on shares of PACS Group in a research report on Wednesday, October 9th. They issued a “buy” rating and a $50.00 target price for the company. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $40.00 price target on shares of PACS Group in a research report on Wednesday, November 6th. Citigroup initiated 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 for the company. Finally, Truist Financial lifted their price objective on PACS Group from $44.00 to $46.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $39.88.

PACS Group Stock Down 2.8 %

Shares of NYSE:PACS opened at $16.77 on Monday. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.82. The company has a 50-day moving average price of $35.40 and a 200-day moving average price of $33.48. PACS Group has a 12 month low of $16.53 and a 12 month high of $43.92.

Institutional Trading of PACS Group

A number of hedge funds have recently made changes to their positions in the stock. Amalgamated Bank purchased a new position in PACS Group during the second quarter valued at $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 acquiring an additional 834 shares in the last quarter. Crewe Advisors LLC purchased a new position in shares of 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 grew its position in 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 purchasing 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.