PACS Group (NYSE:PACS) Price Target Raised to $57.00 at Royal Bank Of Canada

PACS Group (NYSE:PACS) had its target price hoisted by analysts at Royal Bank Of Canada from $52.00 to $57.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price indicates a potential upside of 20.74% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the company. Oppenheimer increased their target price on PACS Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Weiss Ratings upgraded shares of PACS Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 8th. Wall Street Zen upgraded shares of PACS Group from a “buy” rating to a “strong-buy” rating in a report on Monday, June 15th. Zacks Research lowered shares of PACS Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Finally, Truist Financial lifted their price objective on shares of PACS Group from $52.00 to $62.00 and gave the company a “buy” rating in a report on Thursday. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $54.20.

PACS Group Price Performance

NYSE PACS traded up $1.57 during trading on Thursday, hitting $47.21. 574,687 shares of the company’s stock were exchanged, compared to its average volume of 944,890. The company has a market cap of $7.47 billion, a PE ratio of 27.40, a P/E/G ratio of 1.34 and a beta of -0.08. PACS Group has a fifty-two week low of $7.50 and a fifty-two week high of $49.49. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.27. The stock’s 50 day moving average price is $41.32 and its two-hundred day moving average price is $37.71.

PACS Group (NYSE:PACS) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.54 by $0.09. PACS Group had a net margin of 4.85% and a return on equity of 30.77%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.41 billion. Research analysts expect that PACS Group will post 2.23 EPS for the current year.

Insider Buying and Selling at PACS Group

In other news, Director Mark Hancock sold 4,966 shares of PACS Group stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $45.06, for a total transaction of $223,767.96. Following the sale, the director directly owned 53,920,512 shares in the company, valued at $2,429,658,270.72. The trade was a 0.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Michelle Renee Lewis sold 4,137 shares of the stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $45.04, for a total transaction of $186,330.48. Following the transaction, the chief accounting officer owned 355,338 shares of the company’s stock, valued at approximately $16,004,423.52. The trade was a 1.15% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 796,524 shares of company stock valued at $31,611,396. Insiders own 70.10% of the company’s stock.

Hedge Funds Weigh In On PACS Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Hollencrest Capital Management bought a new stake in shares of PACS Group in the fourth quarter valued at $27,000. Financial Management Professionals Inc. raised its stake in PACS Group by 54.9% in the 2nd quarter. Financial Management Professionals Inc. now owns 663 shares of the company’s stock valued at $28,000 after acquiring an additional 235 shares during the period. Quarry LP lifted its holdings in PACS Group by 79.5% during the third quarter. Quarry LP now owns 2,388 shares of the company’s stock valued at $33,000 after purchasing an additional 1,058 shares during the last quarter. Larson Financial Group LLC boosted its position in PACS Group by 127.0% during the fourth quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $42,000 after purchasing an additional 612 shares during the period. Finally, KBC Group NV purchased a new position in shares of PACS Group in the first quarter worth about $42,000.

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.