PACS Group (NYSE:PACS) Upgraded by Wall Street Zen to Buy Rating

PACS Group (NYSE:PACS) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Sunday.

Several other research firms have also issued reports on PACS. JPMorgan Chase & Co. started coverage on shares of PACS Group in a report on Wednesday, December 17th. They issued an “overweight” rating and a $44.00 target price on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $47.00 price objective on shares of PACS Group in a research report on Friday, December 19th. Truist Financial set a $40.00 target price on shares of PACS Group in a research report on Friday, December 12th. Zacks Research raised shares of PACS Group from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. Finally, UBS Group reissued a “buy” rating and set a $42.00 price objective (down previously from $50.00) on shares of PACS Group in a report on Thursday, December 18th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $43.25.

PACS Group Stock Down 3.0%

PACS stock opened at $37.73 on Friday. The company has a market cap of $5.91 billion, a price-to-earnings ratio of 35.93, a P/E/G ratio of 1.26 and a beta of -0.65. The business has a 50 day moving average price of $37.02 and a two-hundred day moving average price of $22.38. PACS Group has a twelve month low of $7.50 and a twelve month high of $43.08. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.28.

PACS Group (NYSE:PACS) last released its quarterly earnings data on Wednesday, November 19th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.36). PACS Group had a return on equity of 21.39% and a net margin of 3.29%.The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.11 billion. Analysts anticipate that PACS Group will post 1.01 EPS for the current fiscal year.

Insider Activity

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

Institutional Trading of PACS Group

Several institutional investors have recently added to or reduced their stakes in PACS. Hollencrest Capital Management bought a new position in PACS Group in the 4th quarter worth about $27,000. Quarry LP raised its position in shares of PACS Group by 79.5% in the 3rd 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 stake in PACS Group by 127.0% in the 4th quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $42,000 after purchasing an additional 612 shares in the last quarter. Strategic Advocates LLC purchased a new stake in PACS Group during the 3rd quarter worth approximately $60,000. Finally, Jones Financial Companies Lllp acquired a new position in PACS Group during the 1st quarter valued at approximately $64,000.

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.