Addus HomeCare (NASDAQ:ADUS) Stock Price Up 6% Following Better-Than-Expected Earnings

Addus HomeCare Co. (NASDAQ:ADUS - Get Free Report) rose 6% on Tuesday following a stronger than expected earnings report. The company traded as high as $109.03 and last traded at $110.61. Approximately 55,729 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 210,877 shares. The stock had previously closed at $104.37.

The company reported $1.42 EPS for the quarter, beating analysts' consensus estimates of $1.33 by $0.09. Addus HomeCare had a net margin of 6.50% and a return on equity of 9.62%. The business had revenue of $337.71 million for the quarter, compared to analyst estimates of $341.66 million. During the same quarter in the prior year, the business earned $1.21 EPS. Addus HomeCare's quarterly revenue was up 20.3% on a year-over-year basis.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. StockNews.com downgraded shares of Addus HomeCare from a "buy" rating to a "hold" rating in a report on Wednesday, February 26th. Macquarie reiterated an "outperform" rating and issued a $129.00 price objective on shares of Addus HomeCare in a report on Thursday, February 27th. Stephens restated an "overweight" rating and issued a $142.00 price target on shares of Addus HomeCare in a research report on Wednesday, March 12th. Oppenheimer increased their price objective on Addus HomeCare from $145.00 to $150.00 and gave the company an "outperform" rating in a report on Friday, January 24th. Finally, JMP Securities reissued a "market outperform" rating and issued a $150.00 price target on shares of Addus HomeCare in a research note on Tuesday, April 22nd. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $139.00.

Hedge Funds Weigh In On Addus HomeCare

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Natixis grew its position in shares of Addus HomeCare by 111.9% in the fourth quarter. Natixis now owns 250 shares of the company's stock valued at $31,000 after purchasing an additional 132 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in Addus HomeCare by 324.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 280 shares of the company's stock valued at $35,000 after purchasing an additional 214 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of Addus HomeCare by 38.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 531 shares of the company's stock worth $67,000 after purchasing an additional 148 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in Addus HomeCare during the 4th quarter valued at $77,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Addus HomeCare in the 4th quarter worth approximately $86,000. Institutional investors own 95.35% of the company's stock.

Addus HomeCare Trading Up 5.6 %

The stock has a 50 day moving average price of $97.64 and a 200 day moving average price of $114.80. The company has a market cap of $2.03 billion, a PE ratio of 25.21, a PEG ratio of 1.41 and a beta of 0.85.

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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