PACS Group (NYSE:PACS) Reaches New 52-Week Low – Here’s What Happened

PACS Group, Inc. (NYSE:PACS) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $14.14 and last traded at $14.41, with a volume of 100451 shares trading hands. The stock had previously closed at $15.18.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $18.00 price target on shares of PACS Group in a research note on Tuesday. Stephens dropped their price objective on PACS Group from $48.00 to $31.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. Truist Financial upped their target price on PACS Group from $44.00 to $46.00 and gave the stock a “buy” rating in a report on Monday, October 14th. UBS Group assumed coverage on shares of PACS Group in a report on Wednesday, October 9th. They set a “buy” rating and a $50.00 target price on the stock. Finally, Citigroup started coverage on shares of PACS Group in a report on Wednesday, September 11th. They issued a “buy” rating and a $45.00 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. Based on data from MarketBeat, PACS Group presently has an average rating of “Moderate Buy” and an average price target of $37.13.

PACS Group Stock Down 6.2 %

The firm has a fifty day moving average of $25.67 and a 200 day moving average of $31.77. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.71 and a quick ratio of 1.71.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PACS. Amalgamated Bank acquired a new position in PACS Group in the second quarter valued at about $25,000. Whittier Trust Co. grew its stake in shares of PACS Group by 152.2% in the third quarter. Whittier Trust Co. now owns 1,382 shares of the company’s stock valued at $55,000 after buying an additional 834 shares in the last quarter. Crewe Advisors LLC acquired a new position in PACS Group during the 3rd quarter worth about $66,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in PACS Group during the 3rd quarter valued at about $251,000. Finally, US Bancorp DE boosted its stake in shares of PACS Group by 56.2% in the third quarter. US Bancorp DE now owns 6,681 shares of the company’s stock valued at $267,000 after purchasing an additional 2,404 shares during the period.

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.