PACS Group (NYSE:PACS) Hits New 52-Week Low – Time to Sell?

PACS Group, Inc. (NYSE:PACS)’s stock price hit a new 52-week low during trading on Wednesday . The stock traded as low as $18.42 and last traded at $18.72, with a volume of 784455 shares traded. The stock had previously closed at $29.54.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. UBS Group assumed coverage on shares of PACS Group in a research note on Wednesday, October 9th. They set a “buy” rating and a $50.00 price target on the stock. JPMorgan Chase & Co. restated an “overweight” rating and issued a $40.00 price objective on shares of PACS Group in a research note on Wednesday. Stephens lifted their price objective on shares of PACS Group from $37.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. Truist Financial lifted their price objective on shares of PACS Group from $44.00 to $46.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, Oppenheimer lifted their price objective on shares of PACS Group from $32.00 to $40.00 and gave the company an “outperform” rating in a research note on Tuesday, August 13th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, PACS Group presently has an average rating of “Buy” and a consensus target price of $41.00.

PACS Group Trading Up 7.6 %

The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.82. The business’s 50 day moving average price is $38.89 and its 200-day moving average price is $33.76.

PACS Group (NYSE:PACS) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.42). The firm had revenue of $981.80 million for the quarter, compared to analyst estimates of $919.22 million. The company’s revenue for the quarter was up 29.1% compared to the same quarter last year. Equities analysts anticipate that PACS Group, Inc. will post 1.03 earnings per share for the current fiscal year.

Institutional Trading of PACS Group

A number of institutional investors have recently added to or reduced their stakes in PACS. Deerfield Management Company L.P. Series C purchased a new stake in PACS Group during the second quarter worth about $19,584,000. Lighthouse Investment Partners LLC purchased a new stake in shares of PACS Group in the second quarter valued at about $8,946,000. Millennium Management LLC purchased a new stake in shares of PACS Group in the second quarter valued at about $8,905,000. Ghisallo Capital Management LLC purchased a new stake in shares of PACS Group in the second quarter valued at about $8,850,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of PACS Group in the second quarter valued at about $7,513,000.

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.