Addus HomeCare Corporation (NASDAQ:ADUS) Given Consensus Rating of "Buy" by Brokerages

Key Points

• Addus HomeCare Corporation has received an average recommendation of "Buy" from eight research firms, with six analysts rating it as a buy and two as a strong buy.
• The company reported a 21.8% year-over-year revenue increase in its latest quarterly earnings, surpassing analysts' expectations with a net revenue of $349.44 million.
• Institutional investors hold an impressive 95.35% of Addus HomeCare's shares, indicating strong confidence in the company's future.

Addus HomeCare Corporation (NASDAQ:ADUS - Get Free Report) has been given an average recommendation of "Buy" by the eight research firms that are currently covering the stock, MarketBeat reports. Six analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $142.8571.

A number of brokerages have recently issued reports on ADUS. Wall Street Zen raised shares of Addus HomeCare from a "hold" rating to a "buy" rating in a research report on Sunday, June 29th. TD Cowen boosted their target price on shares of Addus HomeCare from $135.00 to $139.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. JMP Securities reissued a "market outperform" rating and issued a $150.00 target price on shares of Addus HomeCare in a research report on Wednesday, July 16th. Finally, Macquarie reissued an "outperform" rating and issued a $133.00 target price on shares of Addus HomeCare in a research report on Tuesday, June 10th.

Addus HomeCare Trading Up 2.9%

ADUS stock opened at $116.33 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.74 and a quick ratio of 1.74. The company has a fifty day moving average price of $111.84 and a two-hundred day moving average price of $107.69. Addus HomeCare has a one year low of $88.96 and a one year high of $136.72. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of 25.68, a price-to-earnings-growth ratio of 1.72 and a beta of 0.80.

Addus HomeCare (NASDAQ:ADUS - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $1.49 EPS for the quarter, topping analysts' consensus estimates of $1.45 by $0.04. Addus HomeCare had a net margin of 6.51% and a return on equity of 9.39%. The firm had revenue of $349.44 million during the quarter, compared to analysts' expectations of $345.71 million. During the same period in the previous year, the business posted $1.35 earnings per share. The company's revenue for the quarter was up 21.8% compared to the same quarter last year. Equities analysts anticipate that Addus HomeCare will post 4.59 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Michael D. Wattenbarger sold 2,045 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $115.00, for a total transaction of $235,175.00. Following the completion of the sale, the executive vice president owned 7,796 shares of the company's stock, valued at $896,540. This represents a 20.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 4.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Addus HomeCare

Several institutional investors and hedge funds have recently bought and sold shares of ADUS. Capital Research Global Investors bought a new stake in Addus HomeCare during the fourth quarter worth about $51,149,000. Nuveen LLC acquired a new position in Addus HomeCare during the first quarter worth about $16,155,000. GAMMA Investing LLC raised its stake in Addus HomeCare by 10,307.8% during the first quarter. GAMMA Investing LLC now owns 130,930 shares of the company's stock worth $12,948,000 after acquiring an additional 129,672 shares in the last quarter. Bank of America Corp DE raised its stake in Addus HomeCare by 273.6% during the fourth quarter. Bank of America Corp DE now owns 175,070 shares of the company's stock worth $21,945,000 after acquiring an additional 128,211 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in Addus HomeCare by 25.8% during the first quarter. Wellington Management Group LLP now owns 471,935 shares of the company's stock worth $46,670,000 after acquiring an additional 96,823 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.

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