Truist Financial Raises PACS Group (NYSE:PACS) Price Target to $46.00

PACS Group (NYSE:PACS) had its target price increased by Truist Financial from $44.00 to $46.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Oppenheimer lifted their price target on shares of 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 shares of PACS Group in a report on Wednesday, October 9th. They issued a “buy” rating and a $50.00 price target on the stock. Macquarie began coverage on shares of PACS Group in a report on Friday, June 28th. They issued an “outperform” rating and a $35.00 price target on the stock. Stephens lifted their price target on shares of PACS Group from $37.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. Finally, Citigroup began coverage on shares of PACS Group in a report on Wednesday, September 11th. They issued a “buy” rating and a $45.00 price target on the stock. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $39.38.

PACS Group Stock Performance

Shares of NYSE PACS opened at $41.92 on Monday. PACS Group has a twelve month low of $22.61 and a twelve month high of $42.46. The business has a 50 day simple moving average of $39.16. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.82.

PACS Group (NYSE:PACS) last announced its earnings results on Monday, August 12th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.42). The firm had revenue of $981.80 million during the quarter, compared to analysts’ expectations of $919.22 million. The company’s quarterly revenue was up 29.1% on a year-over-year basis. As a group, research analysts anticipate that PACS Group will post 1.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PACS. Amalgamated Bank bought a new position in shares of PACS Group in the second quarter worth $25,000. Sandia Investment Management LP bought a new position in shares of PACS Group in the second quarter worth $295,000. The Manufacturers Life Insurance Company bought a new position in shares of PACS Group in the second quarter worth $302,000. SG Americas Securities LLC bought a new position in shares of PACS Group in the third quarter worth $548,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in PACS Group in the second quarter worth $552,000.

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.