Oppenheimer Raises PACS Group (NYSE:PACS) Price Target to $40.00

PACS Group (NYSE:PACS) had its price target lifted by research analysts at Oppenheimer from $32.00 to $40.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price target suggests a potential upside of 4.71% from the stock’s current price.

PACS has been the subject of several other research reports. Royal Bank of Canada increased their target price on shares of PACS Group from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Wednesday, May 15th. Macquarie initiated coverage on shares of PACS Group in a report on Friday, June 28th. They issued an “outperform” rating and a $35.00 target price for the company. JPMorgan Chase & Co. initiated coverage on shares of PACS Group in a report on Monday, May 6th. They issued an “overweight” rating and a $27.00 target price for the company. Citigroup initiated coverage on shares of PACS Group in a report on Monday, May 6th. They issued a “buy” rating and a $32.00 target price for the company. Finally, Stephens restated an “overweight” rating and set a $31.00 price target on shares of PACS Group in a research report on Tuesday, May 14th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $35.86.

PACS Group Stock Performance

PACS opened at $38.20 on Tuesday. The company has a debt-to-equity ratio of 5.75, a quick ratio of 1.56 and a current ratio of 1.56. The business’s fifty day simple moving average is $31.75. PACS Group has a 1-year low of $22.61 and a 1-year high of $39.00.

PACS Group (NYSE:PACS) last announced its earnings results on Monday, August 12th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.35 by ($0.42). The firm had revenue of $981.80 million for the quarter, compared to the consensus estimate of $919.22 million. PACS Group’s quarterly revenue was up 29.1% on a year-over-year basis. Equities analysts forecast that PACS Group will post 1.4 earnings per share for the current year.

Hedge Funds Weigh In On PACS Group

Several institutional investors have recently added to or reduced their stakes in PACS. Caas Capital Management LP bought a new position in PACS Group during the second quarter valued at about $1,386,000. Bank of New York Mellon Corp bought a new position in PACS Group during the second quarter worth about $2,445,000. Allspring Global Investments Holdings LLC bought a new position in PACS Group during the second quarter worth about $7,513,000. Rhumbline Advisers bought a new position in PACS Group during the second quarter worth about $870,000. Finally, Oppenheimer Asset Management Inc. bought a new position in PACS Group during the second 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.