PACS Group (NYSE:PACS) Reaches New 52-Week Low After Analyst Downgrade

PACS Group, Inc. (NYSE:PACS) shares reached a new 52-week low during trading on Monday after Stephens lowered their price target on the stock from $48.00 to $31.00. Stephens currently has an overweight rating on the stock. PACS Group traded as low as $16.71 and last traded at $16.83, with a volume of 1259903 shares. The stock had previously closed at $17.41.

Several other research firms also recently commented on PACS. Oppenheimer raised their price objective on PACS Group from $32.00 to $40.00 and gave the stock an “outperform” rating in a report on Tuesday, August 13th. UBS Group began coverage on PACS Group in a report on Wednesday, October 9th. They issued a “buy” rating and a $50.00 price target on the stock. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $40.00 price target on shares of PACS Group in a report on Wednesday, November 6th. Truist Financial lifted their price target on PACS Group from $44.00 to $46.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, Citigroup began coverage on PACS Group in a report on Wednesday, September 11th. They issued a “buy” rating and a $45.00 price target on the stock. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $39.88.

Institutional Investors Weigh In On PACS Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PACS. Amalgamated Bank increased its holdings in shares of PACS Group by 56.7% during the third quarter. Amalgamated Bank now owns 1,349 shares of the company’s stock valued at $54,000 after acquiring an additional 488 shares in the last quarter. Whittier Trust Co. grew its position in PACS Group by 152.2% during the 3rd quarter. Whittier Trust Co. now owns 1,382 shares of the company’s stock worth $55,000 after purchasing an additional 834 shares during the last quarter. Crewe Advisors LLC acquired a new position in PACS Group during the 3rd quarter valued at approximately $66,000. US Bancorp DE lifted its stake in shares of PACS Group by 56.2% during the third quarter. US Bancorp DE now owns 6,681 shares of the company’s stock worth $267,000 after buying an additional 2,404 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in PACS Group by 45.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 14,882 shares of the company’s stock valued at $595,000 after acquiring an additional 4,660 shares during the period.

PACS Group Stock Down 4.1 %

The company has a fifty day moving average price of $36.69 and a 200-day moving average price of $33.71. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.82.

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.