Addus HomeCare (NASDAQ:ADUS) Shares Up 5.6% After Earnings Beat

Addus HomeCare Co. (NASDAQ:ADUS) shares traded up 5.6% on Tuesday following a better than expected earnings announcement. The company traded as high as $103.40 and last traded at $103.40. 116,571 shares were traded during mid-day trading, a decline of 5% from the average session volume of 122,499 shares. The stock had previously closed at $97.89.

The company reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.24. Addus HomeCare had a return on equity of 9.70% and a net margin of 5.91%. The firm had revenue of $280.70 million for the quarter, compared to analyst estimates of $279.49 million. During the same quarter last year, the firm posted $0.84 EPS. The company’s revenue was up 11.6% on a year-over-year basis.

Analyst Upgrades and Downgrades

ADUS has been the topic of several research reports. Oppenheimer restated an “outperform” rating and set a $118.00 price objective on shares of Addus HomeCare in a report on Tuesday, March 26th. William Blair reiterated an “outperform” rating on shares of Addus HomeCare in a research report on Monday, February 5th. Royal Bank of Canada restated an “outperform” rating and set a $102.00 price objective on shares of Addus HomeCare in a research report on Thursday, February 29th. Stephens reaffirmed an “overweight” rating and issued a $115.00 target price on shares of Addus HomeCare in a research report on Tuesday. Finally, Bank of America boosted their price target on shares of Addus HomeCare from $115.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. According to data from MarketBeat, Addus HomeCare has a consensus rating of “Moderate Buy” and a consensus price target of $106.57.

Hedge Funds Weigh In On Addus HomeCare

A number of institutional investors have recently modified their holdings of ADUS. TimesSquare Capital Management LLC raised its position in shares of Addus HomeCare by 9.8% during the first quarter. TimesSquare Capital Management LLC now owns 289,998 shares of the company’s stock worth $29,968,000 after acquiring an additional 25,910 shares during the last quarter. Empowered Funds LLC increased its position in shares of Addus HomeCare by 9.8% in the 1st quarter. Empowered Funds LLC now owns 6,890 shares of the company’s stock valued at $712,000 after buying an additional 615 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Addus HomeCare during the 1st quarter worth $715,000. BNP Paribas Financial Markets lifted its holdings in Addus HomeCare by 20.3% during the first quarter. BNP Paribas Financial Markets now owns 11,854 shares of the company’s stock worth $1,225,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Argent Capital Management LLC grew its stake in Addus HomeCare by 148.5% in the first quarter. Argent Capital Management LLC now owns 24,625 shares of the company’s stock valued at $2,545,000 after acquiring an additional 14,715 shares during the period. 95.35% of the stock is owned by institutional investors.

Addus HomeCare Stock Up 6.0 %

The company has a market capitalization of $1.70 billion, a P/E ratio of 27.01, a P/E/G ratio of 1.94 and a beta of 0.96. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.18. The firm has a fifty day simple moving average of $98.48 and a 200-day simple moving average of $92.44.

Addus HomeCare Company Profile

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.