Stephens Lowers PACS Group (NYSE:PACS) Price Target to $31.00

PACS Group (NYSE:PACS - Free Report) had its price objective decreased by Stephens from $48.00 to $31.00 in a research note released on Monday morning,Benzinga reports. Stephens currently has an overweight rating on the stock.

Several other brokerages have also recently issued reports on PACS. UBS Group initiated coverage on PACS Group in a research report on Wednesday, October 9th. They set a "buy" rating and a $50.00 price target on the stock. Oppenheimer lifted their target price 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. JPMorgan Chase & Co. reissued an "overweight" rating and set a $40.00 target price on shares of PACS Group in a research report on Wednesday, November 6th. Citigroup began coverage on shares of PACS Group in a research note on Wednesday, September 11th. They issued a "buy" rating and a $45.00 price objective for the company. Finally, Truist Financial raised their target price on PACS Group from $44.00 to $46.00 and gave the company a "buy" rating in a report on Monday, October 14th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $39.88.

PACS Group Trading Down 2.8 %

Shares of PACS Group stock traded down $0.48 during trading hours on Monday, reaching $16.93. The company's stock had a trading volume of 2,313,634 shares, compared to its average volume of 861,876. 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 company's 50 day simple moving average is $36.69 and its 200 day simple moving average is $33.71. PACS Group has a one year low of $16.58 and a one year high of $43.92.

Institutional Investors Weigh In On PACS Group

Hedge funds have recently made changes to their positions in the company. Amalgamated Bank boosted its holdings in 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 acquiring an additional 488 shares during the last quarter. Whittier Trust Co. grew its holdings in shares of PACS Group by 152.2% in the 3rd 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 acquired a new position in shares of PACS Group in the 3rd quarter valued at approximately $66,000. US Bancorp DE increased its position in shares of PACS Group by 56.2% during the third quarter. US Bancorp DE now owns 6,681 shares of the company's stock worth $267,000 after acquiring an additional 2,404 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in PACS Group by 45.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 14,882 shares of the company's stock worth $595,000 after purchasing an additional 4,660 shares in the last quarter.

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.