Addus HomeCare (NASDAQ:ADUS) Hits New 52-Week High – Still a Buy?

Addus HomeCare Corporation (NASDAQ:ADUS) shares hit a new 52-week high during trading on Thursday. The stock traded as high as $124.65 and last traded at $123.6030, with a volume of 14,824 shares traded. The stock had previously closed at $122.18.

Analysts Set New Price Targets

A number of research firms have issued reports on ADUS. Raymond James Financial set a $137.00 price target on shares of Addus HomeCare in a report on Monday, September 28th. Royal Bank Of Canada lifted their price objective on Addus HomeCare from $130.00 to $134.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Bank of America cut Addus HomeCare from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $140.00 to $125.00 in a research report on Monday, September 14th. Citigroup downgraded Addus HomeCare from a “market outperform” rating to a “neutral” rating in a research note on Monday, September 14th. Finally, Barclays raised their target price on Addus HomeCare from $92.00 to $96.00 and gave the company an “underweight” rating in a report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $129.33.

Addus HomeCare Price Performance

The stock has a 50-day simple moving average of $117.00 and a 200 day simple moving average of $106.46. The stock has a market capitalization of $2.34 billion, a P/E ratio of 22.02, a price-to-earnings-growth ratio of 1.77 and a beta of 0.83. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.69 and a current ratio of 1.69.

Addus HomeCare (NASDAQ:ADUS) last released its earnings results on Monday, August 3rd. The company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.03. The company had revenue of $377.41 million during the quarter, compared to the consensus estimate of $376.24 million. Addus HomeCare had a return on equity of 9.96% and a net margin of 7.13%. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.49 earnings per share. On average, equities analysts forecast that Addus HomeCare Corporation will post 6.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Addus HomeCare

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bridge City Capital LLC increased its holdings in Addus HomeCare by 25.9% in the 3rd quarter. Bridge City Capital LLC now owns 107,577 shares of the company’s stock valued at $11,892,000 after buying an additional 22,132 shares during the period. Vise Technologies Inc. bought a new stake in shares of Addus HomeCare during the 3rd quarter worth approximately $422,000. State of Wyoming lifted its holdings in shares of Addus HomeCare by 66.7% during the 3rd quarter. State of Wyoming now owns 1,307 shares of the company’s stock worth $144,000 after acquiring an additional 523 shares during the period. Smith Group Asset Management LLC lifted its holdings in shares of Addus HomeCare by 23.1% during the 3rd quarter. Smith Group Asset Management LLC now owns 7,173 shares of the company’s stock worth $793,000 after acquiring an additional 1,348 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in shares of Addus HomeCare by 16.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 769 shares of the company’s stock worth $85,000 after acquiring an additional 111 shares in the last quarter. 95.35% of the stock is owned by institutional investors.

About Addus HomeCare

Addus HomeCare Inc (NASDAQ: ADUS) provides in-home personal care, hospice and home health services to older adults, people with disabilities and other individuals who need assistance with daily living or medical care. Its services are designed to help clients remain safely and independently in their homes while supporting families and caregivers.

The company’s personal care services include assistance with bathing, dressing, grooming, meal preparation, housekeeping and other activities of daily living.