Addus HomeCare (NASDAQ:ADUS) Stock Price Up 5.6% on Better-Than-Expected Earnings

Addus HomeCare Co. (NASDAQ:ADUS)’s share price traded up 5.6% during mid-day trading on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $103.40 and last traded at $103.40. 116,571 shares changed hands during mid-day trading, a decline of 5% from the average session volume of 122,499 shares. The stock had previously closed at $97.89.

The company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.24. The firm had revenue of $280.70 million for the quarter, compared to analysts’ expectations of $279.49 million. Addus HomeCare had a net margin of 5.91% and a return on equity of 9.70%. The business’s revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the business earned $0.84 earnings per share.

Analyst Upgrades and Downgrades

ADUS has been the subject of a number of research analyst reports. Oppenheimer reaffirmed an “outperform” rating and issued a $118.00 price target on shares of Addus HomeCare in a research note on Tuesday, March 26th. Barclays cut shares of Addus HomeCare from an “equal weight” rating to an “underweight” rating and set a $83.00 price target on the stock. in a research report on Tuesday, April 23rd. Royal Bank of Canada restated an “outperform” rating and issued a $102.00 price objective on shares of Addus HomeCare in a report on Thursday, February 29th. Bank of America upped their target price on Addus HomeCare from $115.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Stephens restated an “overweight” rating and set a $115.00 price target on shares of Addus HomeCare in a research report on Tuesday. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.57.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System purchased a new stake in shares of Addus HomeCare in the fourth quarter worth $752,000. Hsbc Holdings PLC increased its stake in Addus HomeCare by 2.9% during the 3rd quarter. Hsbc Holdings PLC now owns 41,578 shares of the company’s stock valued at $3,542,000 after purchasing an additional 1,177 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in Addus HomeCare by 61.6% in the third quarter. First Eagle Investment Management LLC now owns 46,239 shares of the company’s stock worth $3,939,000 after buying an additional 17,630 shares during the last quarter. Cetera Trust Company N.A bought a new position in shares of Addus HomeCare in the fourth quarter worth approximately $219,000. Finally, Vanguard Group Inc. grew its holdings in shares of Addus HomeCare by 4.9% during the third quarter. Vanguard Group Inc. now owns 1,218,564 shares of the company’s stock valued at $103,809,000 after buying an additional 57,040 shares during the last quarter. Institutional investors own 95.35% of the company’s stock.

Addus HomeCare Stock Up 2.4 %

The company has a market cap of $1.75 billion, a P/E ratio of 27.89, a P/E/G ratio of 1.94 and a beta of 0.96. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.38 and a quick ratio of 1.38. The company’s 50-day moving average is $99.03 and its two-hundred day moving average is $92.71.

About Addus HomeCare

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.