The Ensign Group (NASDAQ:ENSG) Sets New 12-Month High Following Analyst Upgrade

The Ensign Group, Inc. (NASDAQ:ENSG) shares reached 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 trading hands. The stock had previously closed at $148.85.

Several other brokerages also recently commented on ENSG. Macquarie initiated coverage on The Ensign Group in a research report on Friday, June 28th. They issued an “outperform” rating and a $134.00 price objective on the stock. Royal Bank of Canada upped their price target on shares of The Ensign Group from $133.00 to $167.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Finally, Truist Financial lifted their price objective on shares of The Ensign Group from $150.00 to $160.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $152.80.

Insiders Place Their Bets

In related news, CEO Barry Port sold 3,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $140.00, for a total value of $420,000.00. Following the completion of the sale, the chief executive officer now directly owns 53,716 shares of the company’s stock, valued at $7,520,240. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Barry Port sold 3,000 shares of The Ensign Group stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $140.00, for a total transaction of $420,000.00. Following the transaction, the chief executive officer now directly owns 53,716 shares of the company’s stock, valued at $7,520,240. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Daren Shaw sold 2,000 shares of the company’s stock in a transaction 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 sale, the director now owns 29,125 shares of the company’s stock, valued at approximately $4,127,303.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,118 shares of company stock worth $2,053,620. 3.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On The Ensign Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Opal Wealth Advisors LLC bought a new stake in shares of The Ensign Group in the 2nd quarter valued at about $31,000. EntryPoint Capital LLC acquired a new stake in The Ensign Group in the first quarter valued at approximately $34,000. Signaturefd LLC boosted its stake in The Ensign Group by 115.2% in the third quarter. Signaturefd LLC now owns 284 shares of the company’s stock valued at $41,000 after acquiring an additional 152 shares in the last quarter. LRI Investments LLC purchased a new position in The Ensign Group in the first quarter worth $45,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of The Ensign Group during the second quarter worth $49,000. Hedge funds and other institutional investors own 96.12% of the company’s stock.

The Ensign Group Stock Performance

The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.53 and a current ratio of 1.53. The stock has a market cap of $8.73 billion, a PE ratio of 39.18, a price-to-earnings-growth ratio of 1.99 and a beta of 0.96. The firm has a fifty day moving average price of $148.60 and a 200 day moving average price of $133.60.

The Ensign Group (NASDAQ:ENSG) last released its quarterly earnings results on Thursday, July 25th. The company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.02. The Ensign Group had a return on equity of 17.32% and a net margin of 5.68%. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the business posted $1.08 earnings per share. The firm’s revenue was up 12.5% compared to the same quarter last year. Research analysts forecast that The Ensign Group, Inc. will post 4.99 earnings per share for the current fiscal year.

The Ensign Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.16%. The ex-dividend date is Monday, September 30th. The Ensign Group’s payout ratio is currently 6.15%.

About The Ensign Group

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.