PACS Group (NYSE:PACS) Price Target Lowered to $24.00 at Macquarie

PACS Group (NYSE:PACS) had its price objective dropped by equities research analysts at Macquarie from $42.00 to $24.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Macquarie’s price objective indicates a potential upside of 81.00% from the company’s previous close.

Other analysts have also issued research reports about the stock. JPMorgan Chase & Co. restated a “neutral” rating and set a $18.00 price target on shares of PACS Group in a research note on Tuesday, December 17th. Citigroup started coverage on shares of PACS Group in a research report on Wednesday, September 11th. They issued a “buy” rating and a $45.00 price target on the stock. Stephens cut their price target on PACS Group from $48.00 to $31.00 and set an “overweight” rating for the company in a research note on Monday, November 18th. Truist Financial lowered their price objective on PACS Group from $46.00 to $32.00 and set a “buy” rating for the company in a research note on Monday. Finally, UBS Group began coverage on PACS Group in a report on Wednesday, October 9th. They set a “buy” rating and a $50.00 price target for the company. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, PACS Group has an average rating of “Moderate Buy” and a consensus price target of $34.00.

PACS Group Trading Down 0.7 %

NYSE PACS opened at $13.26 on Monday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.71 and a current ratio of 1.71. PACS Group has a 52 week low of $12.54 and a 52 week high of $43.92. The business has a 50 day moving average price of $18.41 and a 200-day moving average price of $30.26.

Institutional Trading of PACS Group

A number of institutional investors and hedge funds have recently modified their holdings of PACS. Bank of New York Mellon Corp purchased a new stake in PACS Group in the second quarter worth $2,445,000. Rhumbline Advisers bought a new stake in PACS Group in the 2nd quarter valued at about $870,000. Oppenheimer Asset Management Inc. purchased a new stake in PACS Group during the second quarter valued at about $552,000. Renaissance Technologies LLC bought a new position in PACS Group during the second quarter worth about $1,195,000. Finally, Amalgamated Bank purchased a new position in shares of PACS Group in the second quarter worth about $25,000.

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.