TD Cowen Forecasts Strong Price Appreciation for Addus HomeCare (NASDAQ:ADUS) Stock

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 - Get Free Report) had its price target upped by equities research analysts at TD Cowen from $135.00 to $139.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. TD Cowen's target price suggests a potential upside of 20.01% from the company's current price.

A number of other equities analysts also recently weighed in on the stock. Wall Street Zen raised shares of Addus HomeCare from a "hold" rating to a "buy" rating in a research note on Sunday, June 29th. JMP Securities restated a "market outperform" rating and issued a $150.00 target price on shares of Addus HomeCare in a report on Wednesday, July 16th. Finally, Macquarie restated an "outperform" rating and issued a $133.00 target price on shares of Addus HomeCare in a report on Tuesday, June 10th. Seven analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Addus HomeCare currently has an average rating of "Buy" and an average target price of $142.86.

Addus HomeCare Trading Down 0.6%

Shares of ADUS traded down $0.75 during trading hours on Wednesday, hitting $115.83. The company had a trading volume of 121,552 shares, compared to its average volume of 191,009. The stock's 50 day moving average price is $111.82 and its 200 day moving average price is $108.33. The firm has a market cap of $2.13 billion, a P/E ratio of 25.57, a P/E/G ratio of 1.51 and a beta of 0.80. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.20. Addus HomeCare has a 52-week low of $88.96 and a 52-week high of $136.72.

Addus HomeCare (NASDAQ:ADUS - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $1.49 earnings per share for the quarter, beating analysts' consensus estimates of $1.45 by $0.04. The firm had revenue of $349.44 million for 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 9.51%. The company's revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.35 EPS. On average, research analysts predict that Addus HomeCare will post 4.59 EPS for the current year.

Insider Activity at Addus HomeCare

In other news, EVP Michael D. Wattenbarger sold 2,045 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $115.00, for a total transaction of $235,175.00. Following the sale, the executive vice president directly owned 7,796 shares in the company, valued at $896,540. This trade represents a 20.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 4.60% of the stock is owned by insiders.

Institutional Trading of Addus HomeCare

Several institutional investors and hedge funds have recently modified their holdings of ADUS. Capital Research Global Investors bought a new stake in shares of Addus HomeCare in the 4th quarter worth about $51,149,000. Nuveen LLC purchased a new stake in shares of Addus HomeCare in the 1st quarter worth approximately $16,155,000. GAMMA Investing LLC lifted its position in shares of Addus HomeCare by 10,307.8% in the 1st quarter. GAMMA Investing LLC now owns 130,930 shares of the company's stock worth $12,948,000 after purchasing an additional 129,672 shares during the period. Bank of America Corp DE lifted 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 valued at $21,945,000 after acquiring an additional 128,211 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in Addus HomeCare by 25.8% during the 1st quarter. Wellington Management Group LLP now owns 471,935 shares of the company's stock valued at $46,670,000 after purchasing an additional 96,823 shares in the last quarter. 95.35% of the stock is currently owned by 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.

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