PACS Group’s (PACS) Overweight Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their overweight rating on shares of PACS Group (NYSE:PACS) in a research report sent to investors on Wednesday morning, MarketBeat.com reports. JPMorgan Chase & Co. currently has a $40.00 price objective on the stock.

Several other brokerages have also recently weighed in on PACS. Oppenheimer raised their target price on PACS Group from $32.00 to $40.00 and gave the company an “outperform” rating in a research note on Tuesday, August 13th. Truist Financial increased their price target on PACS Group from $44.00 to $46.00 and gave the company a “buy” rating in a research report on Monday, October 14th. UBS Group assumed coverage on PACS Group in a research report on Wednesday, October 9th. They issued a “buy” rating and a $50.00 price target for the company. Citigroup assumed coverage on PACS Group in a research report on Wednesday, September 11th. They issued a “buy” rating and a $45.00 price target for the company. Finally, Stephens increased their price target on PACS Group from $37.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $41.00.

PACS Group Trading Up 3.6 %

PACS stock traded up $0.65 during trading hours on Wednesday, hitting $18.74. 1,104,069 shares of the stock traded hands, compared to its average volume of 775,697. The stock has a 50-day simple moving average of $39.28 and a 200 day simple moving average of $33.85. PACS Group has a one year low of $16.74 and a one year high of $43.92. 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 the consensus estimate of $0.35 by ($0.42). The company had revenue of $981.80 million during the quarter, compared to analyst estimates of $919.22 million. The firm’s revenue was up 29.1% on a year-over-year basis. On average, equities research analysts expect that PACS Group will post 1.03 EPS for the current fiscal year.

Institutional Investors Weigh In On PACS Group

Hedge funds have recently bought and sold shares of the business. Caas Capital Management LP purchased a new stake in shares of PACS Group during the 2nd quarter worth about $1,386,000. Bank of New York Mellon Corp purchased a new stake in shares of PACS Group during the 2nd quarter worth about $2,445,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of PACS Group during the 2nd quarter worth about $7,513,000. Rhumbline Advisers purchased a new stake in shares of PACS Group during the 2nd quarter worth about $870,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in shares of PACS Group during the 2nd quarter worth about $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.