Zacks Research Upgrades PACS Group (NYSE:PACS) to Strong-Buy

PACS Group (NYSE:PACS) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

PACS has been the subject of a number of other reports. JPMorgan Chase & Co. initiated coverage on PACS Group in a report on Wednesday, December 17th. They set an “overweight” rating and a $44.00 price target for the company. Royal Bank Of Canada upped their target price on shares of PACS Group from $47.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday, February 27th. Truist Financial set a $40.00 price target on shares of PACS Group in a report on Friday, December 12th. Oppenheimer upped their price objective on shares of PACS Group from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of PACS Group in a research note on Monday, December 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $44.40.

PACS Group Stock Performance

Shares of NYSE PACS traded down $0.58 during trading hours on Wednesday, hitting $34.99. 122,795 shares of the company’s stock were exchanged, compared to its average volume of 1,083,783. The company’s 50-day moving average price is $38.13 and its 200-day moving average price is $24.96. PACS Group has a 1-year low of $7.50 and a 1-year high of $43.08. The stock has a market capitalization of $5.50 billion, a price-to-earnings ratio of 28.45, a PEG ratio of 1.16 and a beta of -0.64. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.07 and a quick ratio of 0.94.

Institutional Investors Weigh In On PACS Group

Institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd acquired a new position in shares of PACS Group in the 4th quarter worth approximately $89,000. Invesco Ltd. grew its position in PACS Group by 685.4% in the fourth quarter. Invesco Ltd. now owns 191,788 shares of the company’s stock valued at $7,363,000 after acquiring an additional 167,368 shares during the period. Corient Private Wealth LLC raised its stake in PACS Group by 29.7% during the fourth quarter. Corient Private Wealth LLC now owns 170,052 shares of the company’s stock worth $6,528,000 after acquiring an additional 38,956 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in shares of PACS Group during the fourth quarter valued at $347,000. Finally, Janus Henderson Group PLC boosted its stake in shares of PACS Group by 914.5% in the 4th quarter. Janus Henderson Group PLC now owns 214,070 shares of the company’s stock valued at $8,219,000 after purchasing an additional 192,970 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.