PACS Group (NYSE:PACS) Sets New 1-Year Low – What’s Next?

PACS Group, Inc. (NYSE:PACS) reached a new 52-week low during trading on Monday . The company traded as low as $15.37 and last traded at $15.53, with a volume of 37174 shares trading hands. The stock had previously closed at $15.81.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PACS. UBS Group began coverage on PACS Group in a research report on Wednesday, October 9th. They issued a “buy” rating and a $50.00 price target on the stock. Oppenheimer upped their target price on PACS Group from $32.00 to $40.00 and gave the company an “outperform” rating in a research report on Tuesday, August 13th. Stephens cut their target price on PACS Group from $48.00 to $31.00 and set an “overweight” rating on the stock in a research report on Monday, November 18th. Citigroup started coverage on PACS Group in a research report on Wednesday, September 11th. They set a “buy” rating and a $45.00 target price on the stock. Finally, Truist Financial upped their target price on PACS Group from $44.00 to $46.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, PACS Group has a consensus rating of “Buy” and a consensus target price of $39.88.

PACS Group Price Performance

The company has a debt-to-equity ratio of 0.82, a current ratio of 1.71 and a quick ratio of 1.71. The stock has a 50-day simple moving average of $31.99 and a 200-day simple moving average of $33.09.

Hedge Funds Weigh In On PACS Group

Several hedge funds have recently made changes to their positions in the stock. Amalgamated Bank grew its position in shares of PACS Group by 56.7% in the third quarter. Amalgamated Bank now owns 1,349 shares of the company’s stock valued at $54,000 after purchasing an additional 488 shares in the last quarter. Whittier Trust Co. boosted its stake in PACS Group by 152.2% during the third quarter. Whittier Trust Co. now owns 1,382 shares of the company’s stock valued at $55,000 after buying an additional 834 shares during the period. Crewe Advisors LLC bought a new stake in PACS Group during the third quarter valued at $66,000. US Bancorp DE boosted its stake in PACS Group by 56.2% during the third quarter. US Bancorp DE now owns 6,681 shares of the company’s stock valued at $267,000 after buying an additional 2,404 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in PACS Group by 45.6% during the third quarter. The Manufacturers Life Insurance Company now owns 14,882 shares of the company’s stock valued at $595,000 after buying an additional 4,660 shares during the period.

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.