Addus HomeCare (NASDAQ:ADUS) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Addus HomeCare (NASDAQ:ADUS) from a hold rating to a strong-buy rating in a research report report published on Tuesday,Zacks reports.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings upgraded Addus HomeCare from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, September 24th. Truist Financial lifted their price objective on shares of Addus HomeCare from $135.00 to $148.00 and gave the stock a “buy” rating in a research report on Thursday, November 5th. TD Cowen boosted their target price on shares of Addus HomeCare from $131.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, November 5th. UBS Group increased their target price 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. Finally, Wall Street Zen upgraded shares of Addus HomeCare from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $134.70.

Addus HomeCare Price Performance

Addus HomeCare stock opened at $125.49 on Tuesday. The stock 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 company has a debt-to-equity ratio of 0.02, a quick ratio of 1.64 and a current ratio of 1.64. The stock’s 50 day moving average price is $118.19 and its two-hundred day moving average price is $107.10.

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

Insider Activity

In related news, EVP Cliff Donald Blessing sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $124.18, for a total value of $248,360.00. Following the completion of the sale, the executive vice president owned 10,183 shares in the company, valued at $1,264,524.94. The trade was a 16.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Brian Poff sold 6,644 shares of the company’s stock in a transaction on Friday, November 6th. The shares were sold at an average price of $124.72, for a total transaction of $828,639.68. Following the completion of the sale, the executive vice president directly owned 57,048 shares of the company’s stock, valued at $7,115,026.56. This trade represents a 10.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 131,655 shares of company stock valued at $16,275,572. 4.10% of the stock is owned by insiders.

Institutional Trading of Addus HomeCare

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in shares of Addus HomeCare during the 2nd quarter worth approximately $344,153,000. Dimensional Fund Advisors LP boosted its position in shares of Addus HomeCare by 11.8% during 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 in the last quarter. Bank of America Corp DE purchased a new stake in Addus HomeCare in the second quarter worth $35,527,000. TimesSquare Capital Management LLC bought a new position in Addus HomeCare in the second quarter worth $31,502,000. Finally, Boston Partners raised its holdings in Addus HomeCare by 18.0% in 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.

Latest Addus HomeCare News

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.