Truist Financial Cuts PACS Group (NYSE:PACS) Price Target to $32.00

PACS Group (NYSE:PACS) had its price target trimmed by Truist Financial from $46.00 to $32.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts have also commented on the stock. Citigroup assumed coverage on shares of PACS Group in a report on Wednesday, September 11th. They issued a “buy” rating and a $45.00 price objective on the stock. Stephens reduced their price target on PACS Group from $48.00 to $31.00 and set an “overweight” rating for the company in a report on Monday, November 18th. JPMorgan Chase & Co. restated a “neutral” rating and set a $18.00 price objective on shares of PACS Group in a report on Tuesday, December 17th. Finally, UBS Group began coverage on PACS Group in a research note on Wednesday, October 9th. They set a “buy” rating and a $50.00 target price for the company. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $34.00.

PACS Group Stock Performance

NYSE PACS opened at $13.18 on Monday. The business has a 50 day moving average price of $17.83 and a two-hundred day moving average price of $30.15. PACS Group has a fifty-two week low of $12.54 and a fifty-two week high of $43.92. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.71 and a current ratio of 1.71.

Institutional Investors Weigh In On PACS Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Amalgamated Bank bought a new stake in PACS Group during the second quarter valued at $25,000. Whittier Trust Co. grew its position in shares of PACS Group by 152.2% during the 3rd quarter. Whittier Trust Co. now owns 1,382 shares of the company’s stock valued at $55,000 after buying an additional 834 shares during the last quarter. Crewe Advisors LLC acquired a new stake in PACS Group during the third quarter worth about $66,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in PACS Group in the third quarter worth about $251,000. Finally, US Bancorp DE boosted its stake in 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 acquiring an additional 2,404 shares during the period.

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.