Addus HomeCare (NASDAQ:ADUS) Shares Up 5.6% After Earnings Beat

Addus HomeCare Co. (NASDAQ:ADUS) rose 5.6% during trading on Tuesday following a better than expected earnings announcement. The stock traded as high as $103.40 and last traded at $103.40. Approximately 116,571 shares were traded during trading, a decline of 5% from the average daily volume of 122,499 shares. The stock had previously closed at $97.89.

The company reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.24. The company had revenue of $280.70 million for the quarter, compared to analyst estimates of $279.49 million. Addus HomeCare had a return on equity of 9.70% and a net margin of 5.91%. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 earnings per share.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ADUS shares. William Blair reissued an “outperform” rating on shares of Addus HomeCare in a research report on Monday, February 5th. Oppenheimer reiterated an “outperform” rating and set a $118.00 price objective on shares of Addus HomeCare in a report on Tuesday, March 26th. 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 research report on Tuesday. Barclays lowered Addus HomeCare from an “equal weight” rating to an “underweight” rating and set a $83.00 price objective for the company. in a report on Tuesday, April 23rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $102.00 price target on shares of Addus HomeCare in a report on Thursday, February 29th. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $106.57.

Institutional Investors Weigh In On Addus HomeCare

A number of hedge funds and other institutional investors have recently modified their holdings of ADUS. Vanguard Group Inc. raised its stake in Addus HomeCare by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 1,257,440 shares of the company’s stock valued at $116,753,000 after purchasing an additional 38,876 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Addus HomeCare by 1.2% during the 4th quarter. Wellington Management Group LLP now owns 798,435 shares of the company’s stock worth $74,135,000 after acquiring an additional 9,548 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Addus HomeCare by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 698,498 shares of the company’s stock worth $64,857,000 after acquiring an additional 5,654 shares in the last quarter. TimesSquare Capital Management LLC increased its stake in Addus HomeCare by 9.8% in the first quarter. TimesSquare Capital Management LLC now owns 289,998 shares of the company’s stock valued at $29,968,000 after acquiring an additional 25,910 shares during the last quarter. Finally, Summit Creek Advisors LLC raised its position in Addus HomeCare by 14.5% during the third quarter. Summit Creek Advisors LLC now owns 288,158 shares of the company’s stock valued at $24,548,000 after purchasing an additional 36,578 shares in the last quarter. Institutional investors and hedge funds own 95.35% of the company’s stock.

Addus HomeCare Stock Up 6.0 %

The firm has a 50 day simple moving average of $98.48 and a two-hundred day simple moving average of $92.44. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $1.70 billion, a P/E ratio of 27.01, a PEG ratio of 1.94 and a beta of 0.96.

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.