Addus HomeCare (NASDAQ:ADUS) Sets New 52-Week High After Strong Earnings

Key Points

• Addus HomeCare shares reached a new 52-week high of $127.84 after the company reported stronger-than-expected quarterly earnings.
• Quarterly EPS was $1.83, beating the $1.79 consensus and rising from $1.56 a year earlier. Revenue grew 7% year over year to $387.74 million, slightly below estimates.
• Analysts’ average rating is Moderate Buy, with an average price target of $129.33.

Shares of Addus HomeCare Corporation (NASDAQ:ADUS - Get Free Report) hit a new 52-week high during trading on Wednesday following a better than expected earnings announcement. The company traded as high as $127.84 and last traded at $125.7360, with a volume of 137,843 shares traded. The stock had previously closed at $126.55.

The company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.79 by $0.04. Addus HomeCare had a return on equity of 9.96% and a net margin of 7.13%. The business had revenue of $387.74 million during the quarter, compared to the consensus estimate of $388.72 million. During the same quarter last year, the company earned $1.56 EPS. Addus HomeCare's revenue was up 7.0% on a year-over-year basis.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Barclays raised their target price on shares of Addus HomeCare from $92.00 to $96.00 and gave the company an "underweight" rating in a research note on Wednesday, July 8th. Royal Bank Of Canada increased their price target on Addus HomeCare from $130.00 to $134.00 and gave the stock an "outperform" rating in a report on Wednesday, August 5th. Bank of America lowered shares of Addus HomeCare from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $140.00 to $125.00 in a research note on Monday, September 14th. Citigroup lowered shares of Addus HomeCare from a "market outperform" rating to a "neutral" rating in a research report on Monday, September 14th. Finally, Weiss Ratings upgraded Addus HomeCare from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, September 24th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $129.33.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ADUS. BlackRock Inc. bought a new position in Addus HomeCare in the 2nd quarter valued at approximately $344,153,000. Dimensional Fund Advisors LP increased its holdings in Addus HomeCare by 11.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 744,127 shares of the company's stock valued at $69,689,000 after acquiring an additional 78,415 shares during the last quarter. Bank of America Corp DE purchased a new stake in shares of Addus HomeCare during the 2nd quarter worth approximately $35,527,000. TimesSquare Capital Management LLC bought a new position in shares of Addus HomeCare in the 2nd quarter valued at about $31,502,000. Finally, Punch & Associates Investment Management Inc. bought a new stake in shares of Addus HomeCare in the 2nd quarter worth about $20,911,000. Institutional investors and hedge funds own 95.35% of the company's stock.

Addus HomeCare Price Performance

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 stock's 50 day moving average price is $117.22 and its 200-day moving average price is $106.62. The stock has a market capitalization of $2.36 billion, a PE ratio of 22.17, a price-to-earnings-growth ratio of 1.79 and a beta of 0.75.

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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