Brookdale Senior Living (NYSE:BKD) Sets New 1-Year High Following Analyst Upgrade

Brookdale Senior Living Inc. (NYSE:BKD) shares hit 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 trading hands. The stock had previously closed at $10.84.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ANTIPODES PARTNERS Ltd raised its stake in Brookdale Senior Living by 3.4% in the second quarter. ANTIPODES PARTNERS Ltd now owns 14,151,773 shares of the company’s stock worth $98,504,000 after buying an additional 467,273 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Brookdale Senior Living by 24.5% in the third quarter. Wellington Management Group LLP now owns 11,609,307 shares of the company’s stock worth $98,331,000 after acquiring an additional 2,282,151 shares in the last quarter. Maple Rock Capital Partners Inc. acquired a new position in Brookdale Senior Living during the 2nd quarter valued at approximately $45,804,000. Bank of America Corp DE raised its stake in Brookdale Senior Living by 3.8% in the 2nd quarter. Bank of America Corp DE now owns 6,507,559 shares of the company’s stock worth $45,293,000 after acquiring an additional 238,042 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Brookdale Senior Living by 18.5% in the second quarter. Geode Capital Management LLC now owns 5,361,195 shares of the company’s stock valued at $37,320,000 after purchasing an additional 838,862 shares during the period.

Brookdale Senior Living Stock Up 6.8%

The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 39.87. The company has a market capitalization of $2.75 billion, a PE ratio of -8.84 and a beta of 0.67. The business’s 50-day simple moving average is $10.41 and its 200-day simple moving average is $8.69.

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 analysts’ consensus estimates of ($0.16) by ($0.04). Brookdale Senior Living had a negative net margin of 9.52% and a negative return on equity of 173.75%. The company had revenue of $813.17 million for the quarter, compared to analysts’ expectations of $825.59 million. As a group, equities research analysts anticipate that Brookdale Senior Living Inc. will post -0.56 EPS for the current fiscal year.

Brookdale Senior Living Company Profile

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.