StockNews.com Upgrades Addus HomeCare (NASDAQ:ADUS) to “Buy”

StockNews.com upgraded shares of Addus HomeCare (NASDAQ:ADUS) from a hold rating to a buy rating in a research note published on Friday.

Other research analysts also recently issued research reports about the company. KeyCorp initiated coverage on Addus HomeCare in a research note on Friday, October 11th. They issued an “overweight” rating and a $150.00 price objective for the company. Royal Bank of Canada restated an “outperform” rating and issued a $136.00 price target on shares of Addus HomeCare in a research report on Thursday, November 14th. JMP Securities assumed coverage on shares of Addus HomeCare in a research note on Monday, December 16th. They set an “outperform” rating and a $150.00 price target for the company. Macquarie reissued an “outperform” rating and issued a $139.00 price objective on shares of Addus HomeCare in a research note on Monday, November 4th. Finally, Citizens Jmp raised Addus HomeCare to a “strong-buy” rating in a research report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Addus HomeCare currently has an average rating of “Buy” and a consensus price target of $134.22.

Addus HomeCare Stock Performance

NASDAQ ADUS opened at $130.62 on Friday. The firm’s fifty day moving average price is $126.10 and its two-hundred day moving average price is $127.09. The stock has a market cap of $2.37 billion, a PE ratio of 29.89, a PEG ratio of 1.73 and a beta of 1.00. Addus HomeCare has a fifty-two week low of $85.94 and a fifty-two week high of $136.72.

Addus HomeCare (NASDAQ:ADUS) last issued its quarterly earnings data on Monday, November 4th. The company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.02. Addus HomeCare had a return on equity of 9.62% and a net margin of 6.50%. The business had revenue of $289.80 million for the quarter, compared to analyst estimates of $289.42 million. During the same quarter in the previous year, the company posted $1.03 EPS. Addus HomeCare’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, sell-side analysts predict that Addus HomeCare will post 4.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Addus HomeCare

In other news, CEO R Dirk Allison sold 12,500 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $123.16, for a total transaction of $1,539,500.00. Following the completion of the sale, the chief executive officer now owns 141,897 shares of the company’s stock, valued at $17,476,034.52. This trade represents a 8.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Roberton James Stevenson sold 2,250 shares of Addus HomeCare stock in a transaction on Monday, December 9th. The shares were sold at an average price of $121.00, for a total transaction of $272,250.00. Following the completion of the sale, the executive vice president now owns 10,217 shares of the company’s stock, valued at $1,236,257. This represents a 18.05 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,750 shares of company stock valued at $4,930,750. 4.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Addus HomeCare

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wasatch Advisors LP increased its position in Addus HomeCare by 11.8% in the 3rd quarter. Wasatch Advisors LP now owns 1,043,240 shares of the company’s stock valued at $138,782,000 after buying an additional 110,010 shares in the last quarter. Point72 Asset Management L.P. grew its stake in Addus HomeCare by 73.4% in the second quarter. Point72 Asset Management L.P. now owns 745,824 shares of the company’s stock valued at $86,598,000 after acquiring an additional 315,602 shares during the period. State Street Corp increased its holdings in shares of Addus HomeCare by 4.4% during the third quarter. State Street Corp now owns 663,610 shares of the company’s stock valued at $88,280,000 after acquiring an additional 27,990 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Addus HomeCare by 17.5% during the third quarter. Principal Financial Group Inc. now owns 505,853 shares of the company’s stock worth $67,293,000 after purchasing an additional 75,409 shares during the period. Finally, WCM Investment Management LLC lifted its holdings in shares of Addus HomeCare by 2.9% in the 3rd quarter. WCM Investment Management LLC now owns 498,279 shares of the company’s stock worth $65,250,000 after purchasing an additional 13,938 shares in the last quarter. Institutional investors own 95.35% of the company’s stock.

About Addus HomeCare

Addus HomeCare Corporation, together with its subsidiaries, provides personal care services to elderly, chronically ill, disabled persons, and individuals who are at risk of hospitalization or institutionalization in the United States. The company operates through three segments: Personal Care, Hospice, and Home Health.