Addus HomeCare (NASDAQ:ADUS) Stock Breaks Above 200 Day Moving Average - Here's Why

Key Points

• Addus HomeCare shares broke above their 200-day moving average, reaching $118.18 and last trading at $118.03, compared with a 200-day average of $105.85.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $129.33, although ratings range from Strong Buy to Sell.
• The company exceeded quarterly expectations, reporting $1.73 in EPS versus the $1.70 consensus and $377.41 million in revenue, up 8% year over year; institutional investors own 95.35% of the stock.

Shares of Addus HomeCare Corporation (NASDAQ:ADUS - Get Free Report) crossed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $105.85 and traded as high as $118.18. Addus HomeCare shares last traded at $118.03, with a volume of 138,916 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ADUS. Raymond James Financial set a $137.00 price objective on shares of Addus HomeCare in a report on Monday, September 28th. Citigroup downgraded shares of Addus HomeCare from a "market outperform" rating to a "neutral" rating in a report on Monday, September 14th. Barclays upped their price objective on Addus HomeCare from $92.00 to $96.00 and gave the company an "underweight" rating in a research report on Wednesday, July 8th. Royal Bank Of Canada lifted their price objective 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. Finally, Weiss Ratings raised shares of Addus HomeCare from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $129.33.

Addus HomeCare Trading Up 2.5%

The stock's 50 day moving average price is $116.35 and its 200-day moving average price is $105.85. The stock has a market capitalization of $2.20 billion, a P/E ratio of 20.71, a P/E/G ratio of 1.64 and a beta of 0.83. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.05.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ADUS. BlackRock Inc. acquired a new position in shares of Addus HomeCare in the 2nd quarter valued at $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 worth $69,689,000 after acquiring an additional 78,415 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of Addus HomeCare during the 2nd quarter worth about $35,527,000. TimesSquare Capital Management LLC acquired a new position in shares of Addus HomeCare during the second quarter valued at approximately $31,502,000. Finally, Punch & Associates Investment Management Inc. acquired a new stake in shares of Addus HomeCare in the second quarter worth approximately $20,911,000. 95.35% of the stock is owned by institutional investors and hedge funds.

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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