The Ensign Group (NASDAQ:ENSG) Sets New 1-Year High on Analyst Upgrade

The Ensign Group, Inc. (NASDAQ:ENSG - Get Free Report) shares hit a new 52-week high during trading on Friday after Oppenheimer raised their price target on the stock from $165.00 to $168.00. Oppenheimer currently has an outperform rating on the stock. The Ensign Group traded as high as $155.68 and last traded at $154.98, with a volume of 93168 shares changing hands. The stock had previously closed at $148.85.

ENSG has been the subject of several other reports. Macquarie initiated coverage on The Ensign Group in a research report on Friday, June 28th. They set an "outperform" rating and a $134.00 target price for the company. Royal Bank of Canada raised their price objective on The Ensign Group from $133.00 to $167.00 and gave the stock an "outperform" rating in a research report on Monday. Finally, Truist Financial upped their target price on The Ensign Group from $150.00 to $160.00 and gave the company a "hold" rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $152.80.

Insider Buying and Selling

In other news, CEO Barry Port sold 5,618 shares of The Ensign Group stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $150.00, for a total value of $842,700.00. Following the completion of the sale, the chief executive officer now owns 53,716 shares in the company, valued at $8,057,400. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other The Ensign Group news, Director Daren Shaw sold 2,000 shares of the firm's stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $141.71, for a total value of $283,420.00. Following the completion of the sale, the director now owns 29,125 shares of the company's stock, valued at approximately $4,127,303.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Barry Port sold 5,618 shares of the company's stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $150.00, for a total transaction of $842,700.00. Following the transaction, the chief executive officer now owns 53,716 shares in the company, valued at approximately $8,057,400. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,118 shares of company stock valued at $2,053,620 over the last 90 days. Company insiders own 3.90% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. F M Investments LLC purchased a new position in The Ensign Group during the 2nd quarter worth $14,370,000. Bank of New York Mellon Corp grew its position in The Ensign Group by 11.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 571,532 shares of the company's stock worth $70,693,000 after purchasing an additional 59,933 shares in the last quarter. Grandeur Peak Global Advisors LLC purchased a new position in shares of The Ensign Group in the 1st quarter worth approximately $5,167,000. Sei Investments Co. grew its holdings in shares of The Ensign Group by 15.7% in the second quarter. Sei Investments Co. now owns 306,103 shares of the company's stock valued at $37,862,000 after acquiring an additional 41,429 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of The Ensign Group by 0.6% during the first quarter. Vanguard Group Inc. now owns 6,661,581 shares of the company's stock valued at $828,834,000 after acquiring an additional 39,695 shares during the last quarter. 96.12% of the stock is currently owned by institutional investors and hedge funds.

The Ensign Group Stock Up 2.7 %

The stock has a fifty day moving average of $148.37 and a 200 day moving average of $133.27. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.53 and a quick ratio of 1.53. The firm has a market capitalization of $8.70 billion, a P/E ratio of 40.77, a price-to-earnings-growth ratio of 1.96 and a beta of 0.96.

The Ensign Group (NASDAQ:ENSG - Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The company reported $1.32 earnings per share for the quarter, topping analysts' consensus estimates of $1.30 by $0.02. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.02 billion. The Ensign Group had a net margin of 5.68% and a return on equity of 17.32%. The firm's quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.08 EPS. On average, research analysts anticipate that The Ensign Group, Inc. will post 4.99 EPS for the current fiscal year.

The Ensign Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.24 annualized dividend and a dividend yield of 0.16%. The Ensign Group's payout ratio is currently 6.32%.

The Ensign Group Company Profile

The Ensign Group, Inc provides skilled nursing, senior living, and rehabilitative services. It operates through two segments: Skilled Services and Standard Bearer. The company's Skilled Services segment engages in the operation of skilled nursing facilities and rehabilitation therapy services for patients with chronic conditions, prolonged illness, and the elderly; and offers nursing facilities including specialty care, such as on-site dialysis, ventilator care, cardiac, and pulmonary management, as well as standard services comprising room and board, special nutritional programs, social services, recreational activities, entertainment, and other services.