Addus HomeCare (NASDAQ:ADUS) Given New $134.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada has increased its price target for Addus HomeCare from $133.00 to $134.00, suggesting a potential upside of 17.74% from the current stock price.
• The company reported earnings of $1.49 per share for the last quarter, surpassing estimates and showing a 21.8% increase in revenue compared to the previous year.
• A variety of ratings from analysts show a consensus average rating of "Buy" and a target price of $138.38, with two analysts giving it a Strong Buy rating.

Addus HomeCare (NASDAQ:ADUS - Get Free Report) had its target price increased by research analysts at Royal Bank Of Canada from $133.00 to $134.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Royal Bank Of Canada's price target would indicate a potential upside of 17.74% from the stock's current price.

A number of other equities analysts have also weighed in on ADUS. Wall Street Zen upgraded shares of Addus HomeCare from a "hold" rating to a "buy" rating in a research report on Sunday, June 29th. Barclays boosted their price target on shares of Addus HomeCare from $83.00 to $109.00 and gave the stock an "underweight" rating in a report on Tuesday. Macquarie restated an "outperform" rating and set a $133.00 price objective on shares of Addus HomeCare in a research report on Tuesday, June 10th. TD Cowen upped their price objective on shares of Addus HomeCare from $135.00 to $139.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Finally, JMP Securities restated a "market outperform" rating and set a $150.00 price objective on shares of Addus HomeCare in a research report on Wednesday, July 16th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Addus HomeCare currently has an average rating of "Buy" and a consensus target price of $138.38.

Addus HomeCare Stock Down 0.9%

Shares of NASDAQ ADUS opened at $113.81 on Friday. The company's 50-day simple moving average is $111.86 and its 200-day simple moving average is $107.13. Addus HomeCare has a 52-week low of $88.96 and a 52-week high of $136.72. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 25.45, a price-to-earnings-growth ratio of 1.75 and a beta of 0.80. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.17.

Addus HomeCare (NASDAQ:ADUS - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.04. Addus HomeCare had a net margin of 6.51% and a return on equity of 9.39%. The business had revenue of $349.44 million for the quarter, compared to analyst estimates of $345.71 million. During the same quarter last year, the business earned $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 predict that Addus HomeCare will post 4.59 EPS for the current fiscal year.

Insider Activity at Addus HomeCare

In other Addus HomeCare news, EVP Michael D. Wattenbarger sold 2,045 shares of the firm'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 sale, the executive vice president directly owned 7,796 shares of the company's stock, valued at $896,540. This trade represents a 20.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO R Dirk Allison sold 25,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $114.95, for a total transaction of $2,873,750.00. Following the completion of the sale, the chief executive officer directly owned 166,461 shares in the company, valued at $19,134,691.95. This represents a 13.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,616 shares of company stock valued at $3,289,480. Insiders own 4.50% of the company's stock.

Institutional Investors Weigh In On Addus HomeCare

Several hedge funds have recently modified their holdings of ADUS. Natixis lifted its position in Addus HomeCare by 111.9% during the fourth quarter. Natixis now owns 250 shares of the company's stock valued at $31,000 after buying an additional 132 shares in the last quarter. State of Wyoming acquired a new position in Addus HomeCare during the second quarter valued at approximately $47,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Addus HomeCare during the first quarter valued at approximately $41,000. Raymond James Financial Inc. purchased a new stake in shares of Addus HomeCare during the second quarter valued at approximately $61,000. Finally, CWM LLC raised its stake in shares of Addus HomeCare by 25.3% during the second quarter. CWM LLC now owns 554 shares of the company's stock valued at $64,000 after purchasing an additional 112 shares during the period. 95.35% of the stock is owned by institutional investors and hedge funds.

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.

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