PACS Group (NYSE:PACS) Hits New 12-Month High – Still a Buy?

PACS Group, Inc. (NYSE:PACS)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $42.90 and last traded at $42.90, with a volume of 10006 shares changing hands. The stock had previously closed at $42.00.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on PACS shares. Oppenheimer upped their target price on PACS Group from $32.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 13th. UBS Group assumed coverage on shares of PACS Group in a research note on Wednesday, October 9th. They issued a “buy” rating and a $50.00 price objective on the stock. Citigroup assumed coverage on shares of PACS Group in a report on Wednesday, September 11th. They set a “buy” rating and a $45.00 price objective for the company. Truist Financial upped their target price on shares of PACS Group from $44.00 to $46.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, Stephens lifted their price target on PACS Group from $37.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $39.38.

PACS Group Stock Up 0.4 %

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’s 50-day simple moving average is $39.89 and its 200-day simple moving average is $33.28.

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

Institutional Investors Weigh In On PACS Group

A number of hedge funds have recently made changes to their positions in PACS. Amalgamated Bank purchased a new stake in PACS Group during the second quarter worth about $25,000. Whittier Trust Co. grew its position in shares of PACS Group by 152.2% during the 3rd quarter. Whittier Trust Co. now owns 1,382 shares of the company’s stock valued at $55,000 after acquiring an additional 834 shares during the period. Sandia Investment Management LP purchased a new stake in shares of PACS Group during the 2nd quarter worth approximately $295,000. The Manufacturers Life Insurance Company bought a new stake in shares of PACS Group in the 2nd quarter worth approximately $302,000. Finally, SG Americas Securities LLC purchased a new position in PACS Group in the third quarter valued at approximately $548,000.

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.