Addus HomeCare (NASDAQ:ADUS) Trading Up 6% After Better-Than-Expected Earnings

Addus HomeCare Co. (NASDAQ:ADUS) rose 6% on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $109.03 and last traded at $110.61. Approximately 55,729 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 210,877 shares. The stock had previously closed at $104.37.

The company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.09. The firm had revenue of $337.71 million during the quarter, compared to analysts’ expectations of $341.66 million. Addus HomeCare had a net margin of 6.50% and a return on equity of 9.62%. The business’s revenue was up 20.3% on a year-over-year basis. During the same period last year, the company earned $1.21 earnings per share.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Oppenheimer increased their price objective on shares of Addus HomeCare from $145.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Stephens reiterated an “overweight” rating and set a $142.00 target price on shares of Addus HomeCare in a research note on Wednesday, March 12th. Macquarie reiterated an “outperform” rating and issued a $129.00 target price on shares of Addus HomeCare in a research note on Thursday, February 27th. StockNews.com cut shares of Addus HomeCare from a “buy” rating to a “hold” rating in a report on Wednesday, February 26th. Finally, JMP Securities reissued a “market outperform” rating and issued a $150.00 target price on shares of Addus HomeCare in a research report on Tuesday, April 22nd. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Addus HomeCare currently has a consensus rating of “Buy” and a consensus target price of $142.00.

Institutional Trading of Addus HomeCare

Several institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its position in shares of Addus HomeCare by 10.2% during the third quarter. JPMorgan Chase & Co. now owns 183,198 shares of the company’s stock valued at $24,371,000 after buying an additional 16,997 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Addus HomeCare by 17.5% during the 3rd quarter. Principal Financial Group Inc. now owns 505,853 shares of the company’s stock valued at $67,293,000 after buying an additional 75,409 shares during the period. Cherry Creek Investment Advisors Inc. purchased a new position in shares of Addus HomeCare in the 4th quarter worth $340,000. Amundi increased its position in Addus HomeCare by 185.9% during the fourth quarter. Amundi now owns 9,008 shares of the company’s stock valued at $1,139,000 after acquiring an additional 5,857 shares during the last quarter. Finally, Barclays PLC lifted its holdings in Addus HomeCare by 204.8% in the third quarter. Barclays PLC now owns 43,470 shares of the company’s stock valued at $5,783,000 after acquiring an additional 29,207 shares during the period. 95.35% of the stock is currently owned by hedge funds and other institutional investors.

Addus HomeCare Price Performance

The firm has a market capitalization of $2.07 billion, a PE ratio of 25.69, a PEG ratio of 1.41 and a beta of 0.85. The firm has a 50-day simple moving average of $98.21 and a 200-day simple moving average of $114.74.

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.