Addus HomeCare (NASDAQ:ADUS) Stock Price Crosses Above 200 Day Moving Average - Here's What Happened

Key Points

• Addus HomeCare shares crossed above their 200-day moving average, reaching $113.08 before closing at $111.27, compared with the 200-day average of $104.39.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” and an average price target of $129.33; individual targets range from $96 to $137.
• The company exceeded quarterly expectations, reporting $1.73 in adjusted EPS and $377.41 million in revenue, while revenue increased 8% year over year.

Addus HomeCare Corporation (NASDAQ:ADUS - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $104.39 and traded as high as $113.08. Addus HomeCare shares last traded at $111.27, with a volume of 207,437 shares traded.

Analyst Upgrades and Downgrades

ADUS has been the subject of several research reports. Royal Bank Of Canada lifted their target price on Addus HomeCare from $130.00 to $134.00 and gave the company an "outperform" rating in a research note on Wednesday, August 5th. Barclays raised their price target on Addus HomeCare from $92.00 to $96.00 and gave the company an "underweight" rating in a report on Wednesday, July 8th. Raymond James Financial set a $137.00 price objective on Addus HomeCare in a research report on Monday. Bank of America reissued a "neutral" rating and set a $125.00 price objective (down from $140.00) on shares of Addus HomeCare in a report on Monday, September 14th. Finally, Weiss Ratings raised shares of Addus HomeCare from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, September 24th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $129.33.

Addus HomeCare Stock Performance

The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.05. The company has a market cap of $2.08 billion, a price-to-earnings ratio of 19.52, a P/E/G ratio of 1.60 and a beta of 0.83. The stock has a 50 day moving average price of $116.90 and a two-hundred day moving average price of $104.39.

Addus HomeCare (NASDAQ:ADUS - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The company reported $1.73 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $376.24 million. During the same quarter in the prior year, the company posted $1.49 earnings per share. The firm's revenue was up 8.0% on a year-over-year basis. Analysts predict that Addus HomeCare Corporation will post 6.3 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Addus HomeCare in the 2nd quarter valued at approximately $344,153,000. Capital Research Global Investors raised its holdings in Addus HomeCare by 22.3% during the 4th quarter. Capital Research Global Investors now owns 1,469,752 shares of the company's stock worth $157,837,000 after buying an additional 268,192 shares during the period. Dimensional Fund Advisors LP lifted its stake in Addus HomeCare by 11.8% in the first quarter. Dimensional Fund Advisors LP now owns 744,127 shares of the company's stock valued at $69,689,000 after buying an additional 78,415 shares in the last quarter. Bank of America Corp DE bought a new position in Addus HomeCare in the second quarter valued at approximately $35,527,000. Finally, TimesSquare Capital Management LLC bought a new position in Addus HomeCare in the second quarter valued at approximately $31,502,000. Institutional investors own 95.35% of the company's stock.

Addus HomeCare Company Profile

Addus HomeCare Corporation is a provider of home-based health care and support services for older adults, people with disabilities and other individuals who require assistance at home. The company's services are designed to help clients maintain independence and avoid or delay institutional care.

Addus operates through three primary service lines: personal care, home health and hospice. Personal care services include assistance with daily activities such as bathing, dressing, meal preparation and mobility.

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