Zacks Investment Research Upgrades Addus Homecare (ADUS) to Hold

Addus Homecare (NASDAQ:ADUS) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

According to Zacks, “ADDUS HOMECARE is a comprehensive provider of a broad range of social and medical services in the home. The company’s services include personal care and assistance with activities of daily living, skilled nursing and rehabilitative therapies, and adult day care. Its consumers are individuals with special needs who are at risk of hospitalization or institutionalization, such as the elderly, chronically ill and disabled. Its payor clients include federal, state and local governmental agencies, the Veterans Health Administration, commercial insurers and private individuals. Addus operates its business through two divisions, home & community services and home health services. The home & community services are social, or non-medical, in nature and include assistance with bathing, grooming, dressing, personal hygiene and medication reminders, and other activities of daily living whereas the home health services are medical in nature and include physical, occupational and speech therapy, as well as skilled nursing. “

Other research analysts also recently issued reports about the stock. BidaskClub upgraded shares of Addus Homecare from a “hold” rating to a “buy” rating in a research note on Thursday, October 11th. Oppenheimer upped their target price on shares of Addus Homecare from $50.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, August 8th. Raymond James initiated coverage on shares of Addus Homecare in a report on Monday, August 20th. They issued an “outperform” rating and a $75.00 price target on the stock. Stephens upped their price target on shares of Addus Homecare from $67.00 to $75.00 and gave the company an “overweight” rating in a report on Tuesday, August 7th. Finally, ValuEngine raised shares of Addus Homecare from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 4th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $73.50.

Shares of ADUS stock opened at $72.49 on Friday. The firm has a market capitalization of $957.82 million, a PE ratio of 46.29, a PEG ratio of 2.97 and a beta of -0.26. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 0.53. Addus Homecare has a twelve month low of $30.95 and a twelve month high of $76.89.

Addus Homecare (NASDAQ:ADUS) last announced its earnings results on Tuesday, November 6th. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.08. The business had revenue of $137.63 million during the quarter, compared to the consensus estimate of $139.43 million. Addus Homecare had a net margin of 3.25% and a return on equity of 10.70%. On average, research analysts predict that Addus Homecare will post 1.69 EPS for the current year.

In related news, major shareholder Eos Capital Partners Iii L. P sold 1,024,733 shares of the company’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $59.00, for a total value of $60,459,247.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 34.80% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Smith Asset Management Group LP raised its holdings in Addus Homecare by 3.6% in the third quarter. Smith Asset Management Group LP now owns 26,034 shares of the company’s stock valued at $1,826,000 after acquiring an additional 900 shares in the last quarter. Rhumbline Advisers raised its holdings in Addus Homecare by 14.5% in the second quarter. Rhumbline Advisers now owns 7,630 shares of the company’s stock valued at $437,000 after acquiring an additional 964 shares in the last quarter. Martingale Asset Management L P raised its holdings in Addus Homecare by 3.9% in the third quarter. Martingale Asset Management L P now owns 32,103 shares of the company’s stock valued at $2,253,000 after acquiring an additional 1,200 shares in the last quarter. American International Group Inc. raised its holdings in Addus Homecare by 26.3% in the third quarter. American International Group Inc. now owns 6,277 shares of the company’s stock valued at $440,000 after acquiring an additional 1,309 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of Addus Homecare by 18.9% during the second quarter. First Trust Advisors LP now owns 8,480 shares of the company’s stock worth $485,000 after purchasing an additional 1,347 shares during the period. 82.42% of the stock is currently owned by hedge funds and other institutional investors.

About Addus Homecare

Addus HomeCare Corporation 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's personal care services offer assistance with activities of daily living. Its services include assistance with bathing, grooming, oral care, assistance with feeding and dressing, medication reminders, meal planning and preparation, housekeeping, and transportation services, as well as other activities of daily living.

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