PACS Group (NYSE:PACS) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of PACS Group (NYSE:PACS) from a hold rating to a buy rating in a research note issued to investors on Sunday morning.

A number of other analysts also recently issued reports on the company. Truist Financial set a $40.00 price target on PACS Group in a research report on Friday, December 12th. JPMorgan Chase & Co. began coverage on shares of PACS Group in a research note on Wednesday, December 17th. They issued an “overweight” rating and a $44.00 target price on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PACS Group in a research note on Monday, December 22nd. UBS Group reiterated a “buy” rating and set a $42.00 price target (down from $50.00) on shares of PACS Group in a report on Thursday, December 18th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $47.00 price objective on shares of PACS Group in a research report on Friday, December 19th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, PACS Group has a consensus rating of “Moderate Buy” and a consensus price target of $43.25.

PACS Group Trading Down 3.0%

PACS opened at $37.73 on Friday. The stock has a 50-day moving average of $37.02 and a 200 day moving average of $22.46. 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 has a 12 month low of $7.50 and a 12 month high of $43.08. The firm has a market cap of $5.91 billion, a P/E ratio of 35.93, a P/E/G ratio of 1.26 and a beta of -0.64.

PACS Group (NYSE:PACS) last posted 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 company had revenue of $1.03 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%. As a group, research analysts forecast that PACS Group will post 1.01 EPS for the current year.

Insider Transactions at PACS Group

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Hollencrest Capital Management purchased a new stake in shares of PACS Group in the 4th quarter worth approximately $27,000. Quarry LP raised its stake in PACS Group by 79.5% in the third quarter. Quarry LP now owns 2,388 shares of the company’s stock worth $33,000 after buying an additional 1,058 shares in the last quarter. Larson Financial Group LLC lifted its holdings 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 buying an additional 612 shares during the period. Strategic Advocates LLC purchased a new stake in PACS Group during the third quarter worth $60,000. Finally, Jones Financial Companies Lllp bought a new stake in PACS Group during the 1st quarter valued at $64,000.

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.