Addus HomeCare (NASDAQ:ADUS) Stock Price Expected to Rise, TD Cowen Analyst Says

Key Points

• TD Cowen raised its price target for Addus HomeCare from $135.00 to $139.00, indicating a potential upside of 20.01% from the current price, and maintained a "buy" rating on the stock.
• Addus HomeCare reported $1.49 earnings per share for the last quarter, exceeding analysts' expectations, and its revenue grew by 21.8% compared to the same quarter last year.
• Seven analysts have rated Addus HomeCare with a "buy" rating, and the average target price from analysts is currently $142.86.

Addus HomeCare (NASDAQ:ADUS - Free Report) had its target price increased by TD Cowen from $135.00 to $139.00 in a report published on Wednesday morning,Benzinga reports. TD Cowen currently has a buy rating on the stock.

Other equities analysts have also issued research reports about the company. Macquarie reissued an "outperform" rating and set a $133.00 price objective on shares of Addus HomeCare in a research note on Tuesday, June 10th. Wall Street Zen upgraded Addus HomeCare from a "hold" rating to a "buy" rating in a report on Sunday, June 29th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $150.00 price objective on shares of Addus HomeCare in a report on Wednesday, July 16th. Seven investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $142.86.

Addus HomeCare Stock Up 1.0%

NASDAQ ADUS traded up $1.09 during trading on Wednesday, hitting $110.19. The company's stock had a trading volume of 143,903 shares, compared to its average volume of 182,796. 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 $2.03 billion, a PE ratio of 24.32, a P/E/G ratio of 1.68 and a beta of 0.80. The business's 50 day simple moving average is $111.73 and its 200-day simple moving average is $107.72. Addus HomeCare has a fifty-two week low of $88.96 and a fifty-two week high of $136.72.

Addus HomeCare (NASDAQ:ADUS - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.04. The company had revenue of $349.44 million during the quarter, compared to analysts' expectations of $345.71 million. Addus HomeCare had a return on equity of 9.39% and a net margin of 6.51%. Addus HomeCare's quarterly revenue was up 21.8% on a year-over-year basis. During the same period last year, the business earned $1.35 earnings per share. On average, equities analysts anticipate that Addus HomeCare will post 4.59 EPS for the current fiscal year.

Insider Activity at Addus HomeCare

In other Addus HomeCare news, EVP Michael D. Wattenbarger sold 2,045 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $115.00, for a total transaction of $235,175.00. Following the completion of the sale, the executive vice president owned 7,796 shares of the company's stock, valued at approximately $896,540. The trade was a 20.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Addus HomeCare

A number of institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in Addus HomeCare by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 692,713 shares of the company's stock valued at $86,833,000 after acquiring an additional 10,434 shares during the period. WCM Investment Management LLC lifted its stake in shares of Addus HomeCare by 4.9% during the first quarter. WCM Investment Management LLC now owns 494,791 shares of the company's stock worth $48,143,000 after purchasing an additional 23,176 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Addus HomeCare by 18.3% during the first quarter. Principal Financial Group Inc. now owns 475,818 shares of the company's stock worth $47,054,000 after purchasing an additional 73,720 shares in the last quarter. Wellington Management Group LLP lifted its stake 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 worth $46,670,000 after purchasing an additional 96,823 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Addus HomeCare by 3.5% during the second quarter. Geode Capital Management LLC now owns 457,090 shares of the company's stock worth $52,658,000 after purchasing an additional 15,543 shares in the last quarter. Hedge funds and other institutional investors own 95.35% of the company's stock.

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.