PACS Group (NYSE:PACS) Reaches New 1-Year Low – What’s Next?

PACS Group, Inc. (NYSE:PACS)’s stock price hit a new 52-week low on Thursday . The company traded as low as $11.09 and last traded at $11.34, with a volume of 325450 shares. The stock had previously closed at $11.36.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PACS. Truist Financial reduced their price target on shares of PACS Group from $46.00 to $32.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Macquarie reduced their target price on shares of 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, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $18.00 price target on shares of PACS Group in a report on Tuesday, December 17th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.00.

PACS Group Price Performance

The company has a debt-to-equity ratio of 0.82, a current ratio of 1.71 and a quick ratio of 1.71. The stock has a fifty day moving average price of $13.24 and a 200 day moving average price of $21.83.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PACS. State of Wyoming purchased a new stake in shares of PACS Group in the fourth quarter worth about $47,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in PACS Group in the 3rd quarter worth approximately $251,000. KLP Kapitalforvaltning AS bought a new position in PACS Group in the 4th quarter valued at $126,000. Intech Investment Management LLC purchased a new position in shares of PACS Group during the 3rd quarter valued at $405,000. Finally, Savant Capital LLC bought a new position in shares of PACS Group in the fourth quarter worth $142,000.

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.