Addus HomeCare (NASDAQ:ADUS) Stock Rating Upgraded by Zacks Research

Addus HomeCare (NASDAQ:ADUS) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday, Zacks reports.

ADUS has been the subject of several other reports. TD Cowen lifted their target price on shares of Addus HomeCare from $131.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, November 5th. Bank of America downgraded shares of Addus HomeCare from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $140.00 to $125.00 in a report on Monday, September 14th. UBS Group raised their price target on shares of Addus HomeCare from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, November 5th. Royal Bank Of Canada raised their price target on shares of Addus HomeCare from $130.00 to $134.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Finally, Weiss Ratings raised shares of Addus HomeCare from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, September 24th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $134.70.

Addus HomeCare Stock Down 0.6%

Shares of ADUS opened at $125.49 on Tuesday. The company has a market capitalization of $2.34 billion, a price-to-earnings ratio of 20.91, a PEG ratio of 1.66 and a beta of 0.75. Addus HomeCare has a 52 week low of $87.95 and a 52 week high of $131.59. The stock’s 50-day moving average price is $118.19 and its 200-day moving average price is $107.10. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.02.

Addus HomeCare (NASDAQ:ADUS) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.04. Addus HomeCare had a return on equity of 10.22% and a net margin of 7.39%. The company had revenue of $387.74 million during the quarter, compared to analysts’ expectations of $388.72 million. During the same period last year, the business earned $1.56 earnings per share. Addus HomeCare’s quarterly revenue was up 7.0% on a year-over-year basis. On average, sell-side analysts predict that Addus HomeCare will post 6.41 EPS for the current year.

Insiders Place Their Bets

In other news, EVP David Tucker sold 14,850 shares of the business’s stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $124.75, for a total value of $1,852,537.50. Following the completion of the sale, the executive vice president directly owned 8,073 shares in the company, valued at $1,007,106.75. The trade was a 64.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Monica Raines sold 2,062 shares of the company’s stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $124.74, for a total value of $257,213.88. Following the transaction, the executive vice president directly owned 13,577 shares of the company’s stock, valued at approximately $1,693,594.98. The trade was a 13.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 131,655 shares of company stock valued at $16,275,572. 4.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Addus HomeCare

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in Addus HomeCare during the second quarter worth $344,153,000. Dimensional Fund Advisors LP grew its position in shares of Addus HomeCare by 11.8% in the first quarter. Dimensional Fund Advisors LP now owns 744,127 shares of the company’s stock valued at $69,689,000 after purchasing an additional 78,415 shares during the period. Bank of America Corp DE acquired a new stake in shares of Addus HomeCare in the second quarter valued at about $35,527,000. TimesSquare Capital Management LLC acquired a new stake in shares of Addus HomeCare in the second quarter valued at about $31,502,000. Finally, Boston Partners increased its stake in shares of Addus HomeCare by 18.0% during the third quarter. Boston Partners now owns 290,332 shares of the company’s stock worth $32,222,000 after purchasing an additional 44,279 shares in the last quarter. Hedge funds and other institutional investors own 95.35% of the company’s stock.

Addus HomeCare News Summary

Investors following ADUS have been watching these news items:

• Positive Sentiment: TD Cowen raised its price target to $145 and reiterated a Buy rating; Wall Street Zen also upgraded the stock to Strong Buy. The company’s latest reported quarterly EPS of $1.83 topped the $1.79 consensus, while revenue grew 7% year over year, though it narrowly missed estimates.
• Neutral Sentiment: A report claims short interest was zero shares, despite describing it as a large increase. The conflicting wording makes the short-interest update difficult to interpret.
• Negative Sentiment: Several executives sold shares on Nov. 6, and CEO R. Allison sold 98,958 shares on Nov. 9 for about $12.2 million, reducing his stake by 35.08%. Five executive vice presidents also sold a combined 32,697 shares. The volume of insider selling may weigh on investor sentiment, though sales alone do not establish a negative view of the company. CEO sale filing Article: EVP share sale

Addus HomeCare Company Profile

Addus HomeCare Corporation provides home-based care services to older adults and people with disabilities. Its services are designed to help clients receive care at home and in other community-based settings. The company operates through personal care, hospice and home health services. Personal care includes assistance with daily activities; hospice provides end-of-life care and support; and home health offers skilled nursing and therapy services. Founded in 1979, Addus serves communities across multiple states.