PACS Group’s (PACS) “Buy” Rating Reaffirmed at UBS Group

UBS Group restated their buy rating on shares of PACS Group (NYSE:PACS) in a research report sent to investors on Thursday morning, MarketBeat Ratings reports. The brokerage currently has a $42.00 price objective on the stock, down from their previous price objective of $50.00.

Other equities research analysts have also recently issued research reports about the company. Royal Bank Of Canada increased their price target on PACS Group from $32.00 to $33.00 and gave the company an “outperform” rating in a report on Thursday, November 20th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PACS Group in a research note on Monday. Wall Street Zen lowered PACS Group from a “buy” rating to a “hold” rating in a report on Sunday, November 30th. Zacks Research cut shares of PACS Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, December 2nd. Finally, JPMorgan Chase & Co. started coverage on shares of PACS Group in a research report on Wednesday. They set an “overweight” rating and a $44.00 price objective for the company. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, PACS Group presently has a consensus rating of “Moderate Buy” and an average target price of $36.60.

PACS Group Stock Performance

NYSE:PACS opened at $35.37 on Thursday. The company has a market cap of $5.54 billion, a P/E ratio of 33.69, a P/E/G ratio of 1.51 and a beta of -0.63. PACS Group has a twelve month low of $7.50 and a twelve month high of $36.27. The company’s 50-day moving average price is $20.75 and its 200-day moving average price is $14.94. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.28.

PACS Group (NYSE:PACS) last announced its quarterly earnings data on Wednesday, November 19th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.36). The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.11 billion. PACS Group had a net margin of 3.29% and a return on equity of 21.39%. On average, sell-side analysts forecast that PACS Group will post 1.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other PACS Group news, Director Evelyn S. Dilsaver acquired 16,724 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The stock was purchased at an average cost of $29.90 per share, with a total value of $500,047.60. Following the transaction, the director owned 22,739 shares of the company’s stock, valued at $679,896.10. This trade represents a 278.04% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider John Todd Mitchell sold 159,556 shares of the business’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $29.89, for a total transaction of $4,769,128.84. Following the completion of the sale, the insider owned 755,836 shares in the company, valued at approximately $22,591,938.04. This trade represents a 17.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 70.40% of the company’s stock.

Institutional Investors Weigh In On PACS Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP lifted its holdings in shares of PACS Group by 79.5% in 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. Strategic Advocates LLC acquired a new position in PACS Group during the third quarter worth $60,000. State of Alaska Department of Revenue acquired a new position in PACS Group during the third quarter worth $69,000. Jones Financial Companies Lllp purchased a new position in shares of PACS Group during the first quarter worth $64,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of PACS Group by 289.0% in the second quarter. Tower Research Capital LLC TRC now owns 6,166 shares of the company’s stock valued at $80,000 after buying an additional 4,581 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.