PACS Group (NYSE:PACS) Rating Increased to Strong-Buy at Zacks Research

PACS Group (NYSE:PACS) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

Several other research firms have also recently commented on PACS. Oppenheimer increased their price target on shares of PACS Group from $48.00 to $57.00 and gave the company an “outperform” rating in a research note on Monday. Wall Street Zen downgraded PACS Group from a “strong-buy” rating to a “buy” rating in a report on Saturday. Truist Financial increased their price objective on PACS Group from $52.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. UBS Group boosted their target price on PACS Group from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Weiss Ratings lowered PACS Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, PACS Group presently has a consensus rating of “Buy” and an average price target of $56.00.

PACS Group Stock Performance

PACS Group stock opened at $45.11 on Monday. The stock has a 50-day simple moving average of $42.16 and a 200 day simple moving average of $37.99. The stock has a market capitalization of $7.14 billion, a price-to-earnings ratio of 26.23, a P/E/G ratio of 1.45 and a beta of -0.08. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.21. PACS Group has a 12-month low of $7.50 and a 12-month high of $49.49.

PACS Group (NYSE:PACS) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.09. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.41 billion. PACS Group had a net margin of 4.85% and a return on equity of 29.55%. On average, research analysts anticipate that PACS Group will post 2.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other PACS Group news, Director Mark Hancock sold 4,966 shares of the firm’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $45.06, for a total transaction of $223,767.96. Following the transaction, the director owned 53,920,512 shares in the company, valued at approximately $2,429,658,270.72. This trade represents a 0.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Michelle Renee Lewis sold 4,137 shares of the business’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $45.04, for a total value of $186,330.48. Following the transaction, the chief accounting officer owned 355,338 shares of the company’s stock, valued at $16,004,423.52. The trade was a 1.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 796,524 shares of company stock valued at $31,611,396. 70.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PACS. Alyeska Investment Group L.P. raised its holdings in PACS Group by 159.5% in the fourth quarter. Alyeska Investment Group L.P. now owns 2,250,007 shares of the company’s stock worth $86,378,000 after purchasing an additional 1,382,984 shares during the period. Marshall Wace LLP grew its holdings in shares of PACS Group by 348.6% in the 3rd quarter. Marshall Wace LLP now owns 1,010,906 shares of the company’s stock valued at $13,880,000 after buying an additional 785,537 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of PACS Group by 120.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,129,612 shares of the company’s stock valued at $14,595,000 after buying an additional 617,124 shares during the period. Dimensional Fund Advisors LP increased its position in shares of PACS Group by 370.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 780,159 shares of the company’s stock valued at $25,051,000 after buying an additional 614,250 shares in the last quarter. Finally, 8 Knots Management LLC bought a new stake in shares of PACS Group in the 4th quarter valued at $23,421,000.

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.