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

PACS Group, Inc. (NYSE:PACS)’s stock price hit a new 52-week low during trading on Tuesday . The company traded as low as $9.00 and last traded at $9.57, with a volume of 853766 shares traded. The stock had previously closed at $9.54.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PACS. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $18.00 target price on shares of PACS Group in a research note on Tuesday, December 17th. Macquarie lowered their price objective on PACS Group from $42.00 to $24.00 and set an “outperform” rating for the company in a research report on Monday, January 6th. Finally, Truist Financial decreased their target price on shares of PACS Group from $46.00 to $32.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, PACS Group has an average rating of “Moderate Buy” and a consensus target price of $34.00.

PACS Group Trading Up 2.5 %

The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.71 and a current ratio of 1.71. The company’s 50-day moving average is $12.65 and its 200 day moving average is $20.02.

Hedge Funds Weigh In On PACS Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State of Wyoming bought a new stake in PACS Group in the 4th quarter worth about $47,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of PACS Group during the 3rd quarter valued at about $251,000. KLP Kapitalforvaltning AS bought a new stake in shares of PACS Group in the fourth quarter worth approximately $126,000. Savant Capital LLC bought a new stake in shares of PACS Group in the fourth quarter worth approximately $142,000. Finally, ProShare Advisors LLC raised its holdings in shares of PACS Group by 45.4% during the fourth quarter. ProShare Advisors LLC now owns 10,855 shares of the company’s stock valued at $142,000 after purchasing an additional 3,391 shares during the last quarter.

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.