Brookdale Senior Living (NYSE:BKD) Reaches New 52-Week High Following Analyst Upgrade

Brookdale Senior Living Inc. (NYSE:BKD)’s share price reached a new 52-week high on Tuesday after Bank of America upgraded the stock from an underperform rating to a buy rating. Bank of America now has a $13.00 price target on the stock, up from their previous price target of $6.75. Brookdale Senior Living traded as high as $11.52 and last traded at $11.4950, with a volume of 401373 shares. The stock had previously closed at $10.84.

A number of other brokerages have also recently weighed in on BKD. Citigroup raised shares of Brookdale Senior Living to a “buy” rating in a research report on Tuesday. Royal Bank Of Canada raised their price objective on Brookdale Senior Living from $9.00 to $13.00 and gave the stock an “outperform” rating in a research note on Monday, November 17th. Wall Street Zen raised Brookdale Senior Living from a “sell” rating to a “hold” rating in a research note on Sunday, November 23rd. Barclays upgraded Brookdale Senior Living from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $8.00 to $14.00 in a report on Monday, November 10th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Brookdale Senior Living in a research report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $12.00.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BKD. Marshall Wace LLP increased its position in shares of Brookdale Senior Living by 8.9% during the 2nd quarter. Marshall Wace LLP now owns 3,406,700 shares of the company’s stock worth $23,711,000 after purchasing an additional 279,232 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Brookdale Senior Living by 647.2% in the second quarter. Assenagon Asset Management S.A. now owns 1,307,068 shares of the company’s stock valued at $9,097,000 after buying an additional 1,132,138 shares in the last quarter. Delta Investment Management LLC acquired a new position in Brookdale Senior Living during the third quarter worth $836,000. Bosun Asset Management LLC acquired a new position in Brookdale Senior Living during the second quarter worth $442,000. Finally, Hudson Bay Capital Management LP bought a new stake in Brookdale Senior Living during the second quarter worth $5,220,000.

Brookdale Senior Living Trading Up 4.0%

The business’s 50 day simple moving average is $10.46 and its 200 day simple moving average is $8.72. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of -8.60 and a beta of 0.67. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 39.87.

Brookdale Senior Living (NYSE:BKD) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.04). Brookdale Senior Living had a negative return on equity of 173.75% and a negative net margin of 9.52%.The firm had revenue of $813.17 million for the quarter, compared to analyst estimates of $825.59 million. On average, research analysts expect that Brookdale Senior Living Inc. will post -0.56 EPS for the current fiscal year.

About Brookdale Senior Living

Brookdale Senior Living Inc (NYSE: BKD) is one of the nation’s largest operators of senior living communities, offering a full spectrum of living options that includes independent living, assisted living, memory care, continuing care retirement communities, respite care and skilled nursing services. The company emphasizes programs and amenities that support wellness, social engagement and overall quality of life for older adults.

Across the United States and Puerto Rico, Brookdale manages more than 700 communities serving tens of thousands of residents.