PACS Group (NYSE:PACS) Stock Rating Lowered by Zacks Research

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

Several other research analysts have also recently weighed in on PACS. UBS Group increased their price objective on PACS Group from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of PACS Group in a research report on Friday, March 27th. Royal Bank Of Canada increased their price objective on PACS Group from $47.00 to $52.00 and gave the stock an “outperform” rating in a research report on Friday, February 27th. Wall Street Zen upgraded PACS Group from a “hold” rating to a “buy” rating in a research report on Sunday, May 10th. Finally, Oppenheimer increased their price objective on PACS Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $45.60.

PACS Group Stock Performance

NYSE:PACS opened at $37.54 on Thursday. The stock has a 50 day simple moving average of $34.30 and a 200 day simple moving average of $32.66. The stock has a market cap of $5.94 billion, a P/E ratio of 24.06, a PEG ratio of 1.21 and a beta of -0.03. PACS Group has a 1-year low of $7.50 and a 1-year high of $43.08. The company has a current ratio of 0.99, a quick ratio of 1.07 and a debt-to-equity ratio of 0.27.

PACS Group (NYSE:PACS) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.08. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.36 billion. PACS Group had a return on equity of 26.47% and a net margin of 4.49%. Research analysts anticipate that PACS Group will post 2.19 earnings per share for the current year.

Insider Buying and Selling

In other PACS Group news, COO Joshua Jergensen sold 36,335 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $34.28, for a total transaction of $1,245,563.80. Following the transaction, the chief operating officer owned 2,667,347 shares in the company, valued at $91,436,655.16. This trade represents a 1.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 70.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PACS Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Jacobsen Capital Management increased its stake in PACS Group by 1.6% during the 1st quarter. Jacobsen Capital Management now owns 18,128 shares of the company’s stock worth $582,000 after acquiring an additional 294 shares during the period. Larson Financial Group LLC increased its stake in PACS Group by 127.0% during the 4th quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $42,000 after acquiring an additional 612 shares during the period. Hollencrest Capital Management bought a new position in PACS Group during the 4th quarter worth $27,000. Strategic Advocates LLC increased its stake in PACS Group by 18.5% during the 4th quarter. Strategic Advocates LLC now owns 5,182 shares of the company’s stock worth $203,000 after acquiring an additional 808 shares during the period. Finally, Peterson Wealth Services increased its stake in PACS Group by 1.6% during the 1st quarter. Peterson Wealth Services now owns 53,672 shares of the company’s stock worth $1,724,000 after acquiring an additional 854 shares during the period.

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.