Royal Bank Of Canada Forecasts Strong Price Appreciation for PACS Group (NYSE:PACS) Stock

PACS Group (NYSE:PACS) had its price objective increased by equities researchers at Royal Bank Of Canada from $32.00 to $33.00 in a research report issued to clients and investors on Thursday, MarketBeat reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective points to a potential upside of 19.83% from the company’s previous close.

Separately, Weiss Ratings restated a “sell (d)” rating on shares of PACS Group in a report on Saturday, September 27th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, PACS Group currently has a consensus rating of “Moderate Buy” and an average price target of $26.75.

PACS Group Trading Up 5.4%

Shares of NYSE:PACS opened at $27.54 on Thursday. The stock has a market capitalization of $4.31 billion, a PE ratio of 88.84 and a beta of 1.05. PACS Group has a 1 year low of $7.50 and a 1 year high of $27.78. The firm has a fifty day moving average price of $13.30 and a 200 day moving average price of $12.01.

PACS Group (NYSE:PACS) last announced its quarterly earnings results on Wednesday, November 19th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.14). The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.11 billion. PACS Group had a return on equity of 21.39% and a net margin of 3.29%. PACS Group has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that PACS Group will post 1.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PACS Group

Several large investors have recently made changes to their positions in the business. Quarry LP boosted its stake in PACS Group by 79.5% during the 3rd quarter. Quarry LP now owns 2,388 shares of the company’s stock valued at $33,000 after purchasing an additional 1,058 shares during the period. State of Alaska Department of Revenue acquired a new position in shares of PACS Group during the third quarter worth approximately $69,000. Jones Financial Companies Lllp bought a new stake in shares of PACS Group in the first quarter valued at approximately $64,000. Tower Research Capital LLC TRC boosted its position in shares of PACS Group by 289.0% in the second quarter. Tower Research Capital LLC TRC now owns 6,166 shares of the company’s stock valued at $80,000 after acquiring an additional 4,581 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey grew its stake in shares of PACS Group by 27.0% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 10,357 shares of the company’s stock worth $134,000 after acquiring an additional 2,199 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.