Oppenheimer Forecasts Strong Price Appreciation for PACS Group (NYSE:PACS) Stock

PACS Group (NYSE:PACS) had its price target hoisted by equities researchers at Oppenheimer from $40.00 to $42.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s target price would indicate a potential upside of 18.18% from the stock’s current price.

Several other equities research analysts also recently issued reports on PACS. JPMorgan Chase & Co. assumed coverage on PACS Group in a report on Wednesday, December 17th. They issued an “overweight” rating and a $44.00 price objective on the stock. Royal Bank Of Canada increased their price objective on PACS Group from $47.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday, February 27th. Weiss Ratings reiterated a “hold (c-)” rating on shares of PACS Group in a research note on Monday, December 22nd. Truist Financial set a $40.00 target price on shares of PACS Group in a research note on Friday, December 12th. Finally, Wall Street Zen raised shares of PACS Group from a “hold” rating to a “buy” rating in a report on Sunday, February 15th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $44.40.

PACS Group Price Performance

Shares of PACS opened at $35.54 on Wednesday. The firm has a 50-day simple moving average of $38.13 and a two-hundred day simple moving average of $24.96. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.07 and a quick ratio of 0.94. PACS Group has a 1-year low of $7.50 and a 1-year high of $43.08. The stock has a market cap of $5.59 billion, a PE ratio of 28.89, a P/E/G ratio of 1.16 and a beta of -0.64.

Institutional Trading of PACS Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PACS. Hollencrest Capital Management purchased a new stake in shares of PACS Group during the 4th quarter worth approximately $27,000. Quarry LP lifted its position in PACS Group by 79.5% in the third quarter. Quarry LP now owns 2,388 shares of the company’s stock valued at $33,000 after acquiring an additional 1,058 shares during the last quarter. Larson Financial Group LLC boosted its stake in PACS Group by 127.0% in the fourth quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock valued at $42,000 after acquiring an additional 612 shares in the last quarter. Strategic Advocates LLC acquired a new position in PACS Group in the third quarter valued at $60,000. Finally, Jones Financial Companies Lllp purchased a new position in shares of PACS Group during the first quarter worth about $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.