Addus HomeCare (NASDAQ:ADUS) Hits New 52-Week High - Here's Why

Key Points

• Addus HomeCare shares reached a new 52-week high of $124.65, trading about 2% higher and above both their 50-day and 200-day moving averages.
• The company exceeded quarterly expectations, reporting $1.73 in EPS versus $1.70 expected and $377.41 million in revenue, up 8% year over year.
• Analyst sentiment remains a “Moderate Buy,” with a consensus price target of $129.33, although recent ratings included several downgrades to neutral and one underweight call.

Shares of Addus HomeCare Corporation (NASDAQ:ADUS - Get Free Report) hit a new 52-week high during mid-day trading on Thursday. The stock traded as high as $124.65 and last traded at $123.6030, with a volume of 14,824 shares. The stock had previously closed at $122.18.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Royal Bank Of Canada upped their target price on shares of Addus HomeCare from $130.00 to $134.00 and gave the company an "outperform" rating in a report on Wednesday, August 5th. Citigroup cut shares of Addus HomeCare from a "market outperform" rating to a "neutral" rating in a research note on Monday, September 14th. Bank of America downgraded Addus HomeCare from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $140.00 to $125.00 in a research report on Monday, September 14th. Raymond James Financial set a $137.00 price objective on shares of Addus HomeCare in a research note on Monday, September 28th. Finally, Barclays lifted their price target on shares of Addus HomeCare from $92.00 to $96.00 and gave the stock an "underweight" rating in a report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $129.33.

Addus HomeCare Stock Up 2.0%

The firm's 50 day moving average price is $116.82 and its two-hundred day moving average price is $106.31. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $2.33 billion, a PE ratio of 21.82, a P/E/G ratio of 1.73 and a beta of 0.83.

Addus HomeCare (NASDAQ:ADUS - Get Free Report) last announced its earnings results on Monday, August 3rd. The company reported $1.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.70 by $0.03. Addus HomeCare had a return on equity of 9.96% and a net margin of 7.13%. The business had revenue of $377.41 million for the quarter, compared to analyst estimates of $376.24 million. During the same period in the previous year, the company earned $1.49 earnings per share. The company's revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, research analysts forecast that Addus HomeCare Corporation will post 6.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Vise Technologies Inc. bought a new stake in Addus HomeCare in the 3rd quarter valued at about $422,000. State of Wyoming increased its position in shares of Addus HomeCare by 66.7% during the 3rd quarter. State of Wyoming now owns 1,307 shares of the company's stock valued at $144,000 after purchasing an additional 523 shares during the period. Smith Group Asset Management LLC raised its position in Addus HomeCare by 23.1% in the third quarter. Smith Group Asset Management LLC now owns 7,173 shares of the company's stock worth $793,000 after acquiring an additional 1,348 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Addus HomeCare by 16.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 769 shares of the company's stock worth $85,000 after purchasing an additional 111 shares in the last quarter. Finally, Net Worth Advisory Group raised its position in shares of Addus HomeCare by 4.1% during the third quarter. Net Worth Advisory Group now owns 3,419 shares of the company's stock worth $382,000 after purchasing an additional 136 shares during the period. Institutional investors own 95.35% of the company's stock.

Addus HomeCare Company Profile

Addus HomeCare Inc NASDAQ: ADUS provides in-home personal care, hospice and home health services to older adults, people with disabilities and other individuals who need assistance with daily living or medical care. Its services are designed to help clients remain safely and independently in their homes while supporting families and caregivers.

The company's personal care services include assistance with bathing, dressing, grooming, meal preparation, housekeeping and other activities of daily living.

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