PACS Group (NYSE:PACS) Sees Large Volume Increase After Analyst Upgrade

PACS Group, Inc. (NYSE:PACS) shares saw an uptick in trading volume on Friday after Weiss Ratings upgraded the stock from a sell (d) rating to a hold (c-) rating. 1,413,981 shares changed hands during mid-day trading, an increase of 76% from the previous session’s volume of 802,865 shares.The stock last traded at $26.1050 and had previously closed at $26.14.

Separately, Royal Bank Of Canada lifted their price target on shares of PACS Group from $32.00 to $33.00 and gave the company an “outperform” rating in a report on Thursday. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, PACS Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.75.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP grew its holdings in PACS Group by 79.5% during the 3rd quarter. Quarry LP now owns 2,388 shares of the company’s stock worth $33,000 after acquiring an additional 1,058 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in shares of PACS Group during the third quarter worth approximately $69,000. Jones Financial Companies Lllp bought a new stake in shares of PACS Group during the first quarter valued at approximately $64,000. Tower Research Capital LLC TRC grew its stake in shares of PACS Group by 289.0% during the second quarter. Tower Research Capital LLC TRC now owns 6,166 shares of the company’s stock valued at $80,000 after purchasing an additional 4,581 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey increased its holdings in shares of PACS Group by 27.0% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 10,357 shares of the company’s stock valued at $134,000 after purchasing an additional 2,199 shares in the last quarter.

PACS Group Stock Up 5.4%

The business’s fifty day moving average is $13.30 and its two-hundred day moving average is $12.01. The firm has a market cap of $4.31 billion, a price-to-earnings ratio of 88.84 and a beta of 1.05.

PACS Group (NYSE:PACS) last announced its quarterly earnings data on Wednesday, November 19th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.14). The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.11 billion. PACS Group had a net margin of 3.29% and a return on equity of 21.39%. PACS Group has set its FY 2025 guidance at EPS. Research analysts forecast that PACS Group, Inc. will post 1.01 EPS for the current year.

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.