Stephens Reaffirms "Overweight" Rating for Addus HomeCare (NASDAQ:ADUS)

Key Points

• Stephens has reiterated its "overweight" rating for Addus HomeCare (NASDAQ:ADUS) with a price target of $140.00, suggesting a potential upside of 21.03% from its previous close.
• The company reported a 21.8% year-over-year increase in revenue for the last quarter, with an EPS of $1.49, exceeding analysts' expectations.
• Institutional investors own a substantial 95.35% of Addus HomeCare's stock, indicating strong market confidence in the company.

Addus HomeCare (NASDAQ:ADUS - Get Free Report)'s stock had its "overweight" rating reaffirmed by research analysts at Stephens in a report issued on Wednesday,Benzinga reports. They currently have a $140.00 price target on the stock. Stephens' price objective suggests a potential upside of 23.56% from the company's current price.

ADUS has been the subject of a number of other research reports. Barclays lifted their price objective on shares of Addus HomeCare from $83.00 to $109.00 and gave the company an "underweight" rating in a report on Tuesday, August 19th. UBS Group initiated coverage on shares of Addus HomeCare in a research note on Tuesday, September 2nd. They set a "buy" rating and a $145.00 target price on the stock. Royal Bank Of Canada raised their target price on Addus HomeCare from $133.00 to $134.00 and gave the company an "outperform" rating in a report on Friday, August 22nd. JMP Securities reaffirmed a "market outperform" rating and issued a $150.00 price objective on shares of Addus HomeCare in a research note on Wednesday, July 16th. Finally, Wall Street Zen upgraded Addus HomeCare from a "hold" rating to a "buy" rating in a research note on Sunday, June 29th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $138.89.

Addus HomeCare Price Performance

Shares of NASDAQ ADUS traded up $0.09 during mid-day trading on Wednesday, hitting $113.31. 46,743 shares of the stock traded hands, compared to its average volume of 187,451. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.74 and a quick ratio of 1.74. The company has a market cap of $2.09 billion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 1.73 and a beta of 0.85. The firm has a 50 day simple moving average of $112.01 and a two-hundred day simple moving average of $106.92. Addus HomeCare has a twelve month low of $88.96 and a twelve month high of $136.72.

Addus HomeCare (NASDAQ:ADUS - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.45 by $0.04. The firm had revenue of $349.44 million during the quarter, compared to analyst estimates of $345.71 million. Addus HomeCare had a net margin of 6.51% and a return on equity of 9.39%. The company's revenue for the quarter was up 21.8% on a year-over-year basis. During the same quarter last year, the business posted $1.35 EPS. As a group, equities research analysts forecast that Addus HomeCare will post 4.59 EPS for the current fiscal year.

Insider Buying and Selling at Addus HomeCare

In related news, Director Veronica Hill-Milbourne sold 1,571 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $114.93, for a total transaction of $180,555.03. Following the completion of the sale, the director directly owned 5,067 shares of the company's stock, valued at approximately $582,350.31. This trade represents a 23.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Brian Poff sold 7,739 shares of Addus HomeCare stock in a transaction on Monday, August 25th. The shares were sold at an average price of $116.82, for a total value of $904,069.98. Following the sale, the executive vice president directly owned 56,980 shares of the company's stock, valued at $6,656,403.60. This represents a 11.96% decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,310 shares of company stock valued at $3,958,375 in the last three months. Corporate insiders own 4.50% of the company's stock.

Institutional Investors Weigh In On Addus HomeCare

Several hedge funds and other institutional investors have recently modified their holdings of ADUS. Nuveen LLC purchased a new stake in Addus HomeCare during the 1st quarter worth approximately $16,155,000. GAMMA Investing LLC raised its holdings in Addus HomeCare by 10,307.8% during the 1st quarter. GAMMA Investing LLC now owns 130,930 shares of the company's stock worth $12,948,000 after buying an additional 129,672 shares during the period. Bank of America Corp DE boosted its position in Addus HomeCare by 273.6% during the fourth quarter. Bank of America Corp DE now owns 175,070 shares of the company's stock worth $21,945,000 after purchasing an additional 128,211 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Addus HomeCare by 25.8% during the first quarter. Wellington Management Group LLP now owns 471,935 shares of the company's stock valued at $46,670,000 after acquiring an additional 96,823 shares during the period. Finally, Allianz Asset Management GmbH increased its stake in shares of Addus HomeCare by 1,229.4% in the 1st quarter. Allianz Asset Management GmbH now owns 100,898 shares of the company's stock valued at $9,978,000 after acquiring an additional 93,308 shares during the last quarter. 95.35% of the stock is currently owned by hedge funds and other institutional investors.

Addus HomeCare Company Profile

Addus HomeCare Corporation, together with its subsidiaries, provides personal care services to elderly, chronically ill, disabled persons, and individuals who are at risk of hospitalization or institutionalization in the United States. The company operates through three segments: Personal Care, Hospice, and Home Health.