Brookdale Senior Living (NYSE:BKD) Stock Price Breaks Above 50 Day Moving Average – Here’s What Happened

Brookdale Senior Living Inc. (NYSE:BKD)’s share price crossed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $10.99 and traded as high as $11.21. Brookdale Senior Living shares last traded at $11.1880, with a volume of 5,735,732 shares traded.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BKD. Weiss Ratings reissued a “sell (d-)” rating on shares of Brookdale Senior Living in a research report on Monday, August 24th. Barclays decreased their target price on Brookdale Senior Living from $18.00 to $17.00 and set an “overweight” rating on the stock in a report on Tuesday, August 11th. Finally, Zacks Research upgraded Brookdale Senior Living from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $17.40.

Brookdale Senior Living Trading Up 7.9%

The stock has a 50 day moving average of $10.99 and a 200-day moving average of $13.29. The company has a market capitalization of $2.67 billion, a P/E ratio of -19.29, a P/E/G ratio of 5.00 and a beta of 0.55.

Brookdale Senior Living (NYSE:BKD) last released its earnings results on Monday, August 10th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.16. Brookdale Senior Living had a negative net margin of 4.53% and a negative return on equity of 15,050.32%. The company had revenue of $718.58 million during the quarter, compared to analyst estimates of $735.63 million. As a group, sell-side analysts expect that Brookdale Senior Living Inc. will post 0.06 EPS for the current fiscal year.

Institutional Trading of Brookdale Senior Living

A number of hedge funds and other institutional investors have recently modified their holdings of BKD. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Brookdale Senior Living during the 2nd quarter valued at $43,000. Public Employees Retirement System of Ohio purchased a new position in shares of Brookdale Senior Living during the 2nd quarter valued at $53,000. Nykredit A S purchased a new position in shares of Brookdale Senior Living during the 2nd quarter valued at $57,000. Persistent Asset Partners Ltd bought a new position in Brookdale Senior Living in the 2nd quarter worth $66,000. Finally, Strs Ohio purchased a new stake in Brookdale Senior Living in the 1st quarter worth $70,000.

Brookdale Senior Living Company Profile

Brookdale Senior Living, Inc (NYSE: BKD) is a U.S.-based operator of senior living communities. The company provides housing, care and support services for older adults through a range of offerings, including independent living, assisted living, memory care and continuing care retirement communities.

Brookdale’s services are designed to support residents with different levels of independence and care needs. Its communities generally provide accommodations, dining, wellness programs, social and recreational activities, transportation and assistance with daily living.