Addus HomeCare Corporation (ADUS) Lifted to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Addus HomeCare Corporation (NASDAQ:ADUS) from a hold rating to a buy rating in a research report report published on Thursday. Zacks Investment Research currently has $39.00 price objective on the stock.
According to Zacks, “ADDUS HOMECARE is a comprehensive provider of a broad range of social and medical services in the home. The company’s services include personal care and assistance with activities of daily living, skilled nursing and rehabilitative therapies, and adult day care. Its consumers are individuals with special needs who are at risk of hospitalization or institutionalization, such as the elderly, chronically ill and disabled. Its payor clients include federal, state and local governmental agencies, the Veterans Health Administration, commercial insurers and private individuals. Addus operates its business through two divisions, home & community services and home health services. The home & community services are social, or non-medical, in nature and include assistance with bathing, grooming, dressing, personal hygiene and medication reminders, and other activities of daily living whereas the home health services are medical in nature and include physical, occupational and speech therapy, as well as skilled nursing. “
A number of other research analysts also recently issued reports on the company. BidaskClub downgraded Addus HomeCare Corporation from a sell rating to a strong sell rating in a research note on Saturday, August 5th. ValuEngine upgraded Addus HomeCare Corporation from a hold rating to a buy rating in a research note on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. Addus HomeCare Corporation currently has an average rating of Hold and an average price target of $34.50.
Addus HomeCare Corporation (NASDAQ ADUS) opened at 34.90 on Thursday. The company has a 50 day moving average of $36.28 and a 200 day moving average of $35.26. Addus HomeCare Corporation has a 1-year low of $20.65 and a 1-year high of $40.75. The company has a market capitalization of $400.30 million, a PE ratio of 24.91 and a beta of 0.23.
Addus HomeCare Corporation (NASDAQ:ADUS) last released its quarterly earnings results on Monday, August 7th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. The business had revenue of $103.60 million during the quarter, compared to analyst estimates of $104.39 million. Addus HomeCare Corporation had a return on equity of 10.47% and a net margin of 3.94%. Addus HomeCare Corporation’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.31 EPS. On average, analysts predict that Addus HomeCare Corporation will post $1.60 earnings per share for the current fiscal year.
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In other Addus HomeCare Corporation news, insider Brenda A. Belger sold 6,250 shares of the company’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $38.58, for a total value of $241,125.00. Following the completion of the transaction, the insider now owns 17,331 shares in the company, valued at approximately $668,629.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Darby Anderson sold 5,000 shares of the company’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $37.78, for a total value of $188,900.00. Following the completion of the transaction, the executive vice president now owns 31,604 shares of the company’s stock, valued at approximately $1,193,999.12. The disclosure for this sale can be found here. Insiders sold a total of 11,939 shares of company stock valued at $456,310 in the last 90 days. Corporate insiders own 35.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Mesirow Financial Investment Management Inc. acquired a new position in shares of Addus HomeCare Corporation during the second quarter worth about $359,000. The Manufacturers Life Insurance Company increased its position in shares of Addus HomeCare Corporation by 8.5% in the second quarter. The Manufacturers Life Insurance Company now owns 6,614 shares of the company’s stock worth $246,000 after buying an additional 517 shares during the period. State Street Corp increased its position in shares of Addus HomeCare Corporation by 12.7% in the second quarter. State Street Corp now owns 122,306 shares of the company’s stock worth $4,549,000 after buying an additional 13,788 shares during the period. Punch & Associates Investment Management Inc. increased its position in shares of Addus HomeCare Corporation by 16.3% in the second quarter. Punch & Associates Investment Management Inc. now owns 164,800 shares of the company’s stock worth $6,131,000 after buying an additional 23,054 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Addus HomeCare Corporation by 5.1% in the second quarter. Dimensional Fund Advisors LP now owns 867,298 shares of the company’s stock worth $32,264,000 after buying an additional 42,304 shares during the period. Hedge funds and other institutional investors own 94.17% of the company’s stock.
Addus HomeCare Corporation Company Profile
Addus HomeCare Corporation is a provider of personal care services, which are provided primarily in the home. The Company’s personal care services include assistance with bathing, grooming, oral care, skincare, assistance with feeding and dressing, medication reminders, meal planning and preparation, housekeeping and transportation services and other activities of daily living.
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