PACS Group (NYSE:PACS) Rating Lowered to “Hold” at Zacks Research

PACS Group (NYSE:PACSGet Free Report) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Thursday,Zacks.com reports.

PACS has been the topic of several other research reports. Wall Street Zen raised shares of PACS Group from a “hold” rating to a “buy” rating in a report on Sunday, May 10th. Oppenheimer upped their target price on shares of PACS Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday. Royal Bank Of Canada upped their target price on shares of PACS Group from $47.00 to $52.00 and gave the stock an “outperform” rating in a report on Friday, February 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PACS Group in a report on Friday, March 27th. Finally, UBS Group upped their target price on shares of PACS Group from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $45.60.

View Our Latest Stock Analysis on PACS Group

PACS Group Stock Down 5.3%

PACS opened at $37.54 on Thursday. The firm’s 50-day simple moving average is $34.30 and its 200-day simple moving average is $32.66. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.07 and a current ratio of 0.99. PACS Group has a twelve month low of $7.50 and a twelve month high of $43.08. The firm has a market cap of $5.94 billion, a price-to-earnings ratio of 24.06, a PEG ratio of 1.21 and a beta of -0.03.

PACS Group (NYSE:PACSGet Free Report) last posted its earnings results on Monday, May 11th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.08. PACS Group had a net margin of 4.49% and a return on equity of 26.47%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.36 billion. Equities research analysts anticipate that PACS Group will post 2.19 EPS for the current fiscal year.

Insider Buying and Selling

In other PACS Group news, COO Joshua Jergensen sold 36,335 shares of the stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $34.28, for a total transaction of $1,245,563.80. Following the sale, the chief operating officer owned 2,667,347 shares of the company’s stock, valued at $91,436,655.16. This represents a 1.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 70.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PACS Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in PACS Group by 14.4% during the 4th quarter. Vanguard Group Inc. now owns 4,506,227 shares of the company’s stock worth $172,994,000 after acquiring an additional 566,502 shares during the last quarter. Alyeska Investment Group L.P. grew its holdings in PACS Group by 159.5% during the 4th quarter. Alyeska Investment Group L.P. now owns 2,250,007 shares of the company’s stock worth $86,378,000 after acquiring an additional 1,382,984 shares during the last quarter. Crewe Advisors LLC grew its holdings in PACS Group by 93.1% during the 4th quarter. Crewe Advisors LLC now owns 2,147,815 shares of the company’s stock worth $82,455,000 after acquiring an additional 1,035,747 shares during the last quarter. Royce & Associates LP grew its holdings in PACS Group by 76.6% during the 3rd quarter. Royce & Associates LP now owns 1,859,070 shares of the company’s stock worth $25,525,000 after acquiring an additional 806,446 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its holdings in PACS Group by 67.3% during the 3rd quarter. Balyasny Asset Management L.P. now owns 1,356,240 shares of the company’s stock worth $18,621,000 after acquiring an additional 545,348 shares during the last quarter.

PACS Group Company Profile

(Get Free Report)

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.

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Analyst Recommendations for PACS Group (NYSE:PACS)

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