Enhabit (NYSE:EHAB) Price Target Cut to $8.50 by Analysts at UBS Group

Key Points

• UBS Group has lowered its price target for Enhabit (NYSE:EHAB) from $10.00 to $8.50 while maintaining a "neutral" rating on the stock, indicating a potential upside of 11.77%.
• Enhabit shares fell 2.5% to $7.61 during recent trading, with a market capitalization of $385.09 million and a price-to-earnings ratio of -2.85.
• The company surpassed analysts' earnings expectations by reporting $0.13 EPS for the quarter, with revenues reaching $266.10 million compared to estimates of $263.39 million.

Enhabit (NYSE:EHAB - Get Free Report) had its target price reduced by equities research analysts at UBS Group from $10.00 to $8.50 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. UBS Group's target price would indicate a potential upside of 12.36% from the company's previous close.

Enhabit Stock Up 3.9%

NYSE:EHAB traded up $0.29 on Friday, hitting $7.57. 152,176 shares of the company's stock were exchanged, compared to its average volume of 453,643. The firm has a 50-day moving average price of $8.20 and a 200-day moving average price of $8.54. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.57 and a quick ratio of 1.57. Enhabit has a 52 week low of $6.47 and a 52 week high of $10.90. The company has a market cap of $383.47 million, a P/E ratio of -2.83 and a beta of 1.68.

Enhabit (NYSE:EHAB - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.10 by $0.03. Enhabit had a negative net margin of 12.84% and a positive return on equity of 2.72%. The firm had revenue of $266.10 million for the quarter, compared to analysts' expectations of $263.39 million. As a group, analysts expect that Enhabit will post 0.22 EPS for the current fiscal year.

Insider Buying and Selling

In other Enhabit news, CFO Ryan Solomon purchased 10,000 shares of the business's stock in a transaction on Friday, August 8th. The shares were purchased at an average cost of $7.64 per share, with a total value of $76,400.00. Following the transaction, the chief financial officer directly owned 193,468 shares of the company's stock, valued at $1,478,095.52. This represents a 5.45% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Enhabit

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its stake in shares of Enhabit by 1.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 563,554 shares of the company's stock worth $5,433,000 after purchasing an additional 6,980 shares during the last quarter. Magnetar Financial LLC increased its stake in shares of Enhabit by 210.0% during the 2nd quarter. Magnetar Financial LLC now owns 74,917 shares of the company's stock worth $722,000 after purchasing an additional 50,749 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Enhabit during the 2nd quarter worth about $717,000. Intech Investment Management LLC increased its stake in shares of Enhabit by 13.2% during the 2nd quarter. Intech Investment Management LLC now owns 27,884 shares of the company's stock worth $269,000 after purchasing an additional 3,258 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Enhabit by 0.3% during the 2nd quarter. Geode Capital Management LLC now owns 1,182,993 shares of the company's stock worth $11,407,000 after purchasing an additional 3,114 shares during the last quarter.

Enhabit Company Profile

Enhabit, Inc provides home health and hospice services in the United States. Its home health services include patient education, pain management, wound care and dressing changes, cardiac rehabilitation, infusion therapy, pharmaceutical administration, and skilled observation and assessment services; practices to treat chronic diseases and conditions, including diabetes, hypertension, arthritis, Alzheimer's disease, low vision, spinal stenosis, Parkinson's disease, osteoporosis, complex wound care and chronic pain, along with disease-specific plans for patients with diabetes, congestive heart failure, post-orthopedic surgery, or injury and respiratory diseases; and physical, occupational and speech therapists provide therapy services.