Zacks Investment Research Upgrades Brookdale Senior Living Inc. (BKD) to Buy
Brookdale Senior Living Inc. (NYSE:BKD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The brokerage presently has a $19.00 target price on the stock. Zacks Investment Research’s price target would indicate a potential upside of 12.09% from the company’s previous close.
According to Zacks, “Brookdale Senior Living Inc. is a leading owner and operator of senior living facilities throughout the United States. The Company is committed to providing an exceptional living experience through properties that are designed, purpose-built and operated to provide the highest-quality service, care and living accommodations for residents. The Company owns and operates independent, assisted and dementia-care facilities. “
Several other analysts also recently commented on BKD. Jefferies Group reiterated a “buy” rating and issued a $29.00 price target on shares of Brookdale Senior Living in a research report on Tuesday, August 9th. JMP Securities reduced their price target on shares of Brookdale Senior Living from $30.00 to $29.00 and set a “market outperform” rating for the company in a research report on Wednesday, August 24th. Finally, TheStreet upgraded shares of Brookdale Senior Living from a “sell” rating to a “hold” rating in a research report on Thursday, September 22nd. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $24.00.
Brookdale Senior Living (NYSE:BKD) traded down 3.64% during trading on Tuesday, hitting $16.95. 1,810,211 shares of the stock traded hands. Brookdale Senior Living has a 52-week low of $11.28 and a 52-week high of $25.31. The company’s 50 day moving average price is $17.36 and its 200-day moving average price is $17.22. The stock’s market cap is $3.15 billion.
Brookdale Senior Living (NYSE:BKD) last released its quarterly earnings results on Monday, August 8th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of $0.59 by $0.78. Brookdale Senior Living had a negative net margin of 6.54% and a positive return on equity of 10.13%. The business earned $1.26 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter last year, the company earned ($0.46) EPS. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. Equities research analysts forecast that Brookdale Senior Living will post ($0.10) earnings per share for the current fiscal year.
Institutional investors have recently made changes to their positions in the company. Virginia Retirement System purchased a new position in shares of Brookdale Senior Living during the first quarter worth approximately $1,215,000. TIAA CREF Investment Management LLC increased its position in shares of Brookdale Senior Living by 9.4% in the first quarter. TIAA CREF Investment Management LLC now owns 492,820 shares of the company’s stock worth $7,826,000 after buying an additional 42,330 shares during the last quarter. Prudential Financial Inc. increased its position in shares of Brookdale Senior Living by 3,856.5% in the first quarter. Prudential Financial Inc. now owns 464,336 shares of the company’s stock worth $7,374,000 after buying an additional 452,600 shares during the last quarter. BlackRock Inc. increased its position in shares of Brookdale Senior Living by 53.2% in the first quarter. BlackRock Inc. now owns 125,633 shares of the company’s stock worth $1,995,000 after buying an additional 43,608 shares during the last quarter. Finally, BlackRock Group LTD increased its position in shares of Brookdale Senior Living by 39.1% in the first quarter. BlackRock Group LTD now owns 168,935 shares of the company’s stock worth $2,682,000 after buying an additional 47,462 shares during the last quarter.
About Brookdale Senior Living
Brookdale Senior Living Inc is engaged in the operation of senior living communities in the United States. The Company has five segments: Retirement Centers; Assisted Living; CCRCs-Rental; Brookdale Ancillary Services, and Management Services. Its Retirement Centers segment includes owned or leased communities that are designed for middle to upper income seniors.
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