Cantor Fitzgerald analyst Joseph France reiterated a Buy rating on The Ensign Group (NASDAQ: ENSG) today and set a price target of $35. The company’s shares opened today at $37.26, close to its 52-week high of $40.09.
France noted:
“. We are boosting our price target to $42 from $35 and reiterating our Overweight rating on our higher estimate of ENSG’s long-term growth and slightly higher margin assumptions. ENSG has responded positively to strong earnings in 4Q17 and 1Q18, rising 46% from $25.53 (on 2/13/2018) to $37.36, vs. a 2.9% rise in the S&P 500, but we believe that there is more upside. The winding down of the industry’s restructuring, higher Medicare rates proposed by CMS for FY 2019 and outcomes-based reimbursement models that we believe advantage post- acute care continue, in our view, to improve the industry’s outlook.”
According to TipRanks.com, France is a 5-star analyst with an average return of 13.6% and a 63.2% success rate. France covers the Services sector, focusing on stocks such as Cross Country Healthcare, Five Star Quality Care, and US Physical Therapy.
Currently, the analyst consensus on The Ensign Group is a Strong Buy with an average price target of $34.
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The company has a one-year high of $40.09 and a one-year low of $18.75. Currently, The Ensign Group has an average volume of 265.1K.
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The Ensign Group, Inc. engages in the provision of healthcare services, as well as urgent care centers and mobile ancillary businesses. It operates through the following segments: Transitional and Skilled Services, Assisted and Independent Living Services, and Home Health and Hospice Services.
