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

Addus HomeCare Co. (NASDAQ:ADUS)’s share price rose 5.6% on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $103.40 and last traded at $103.40. Approximately 116,571 shares were traded during mid-day 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, beating the consensus estimate of $0.97 by $0.24. Addus HomeCare had a net margin of 5.91% and a return on equity of 9.70%. The firm had revenue of $280.70 million during the quarter, compared to the consensus estimate of $279.49 million. During the same quarter in the previous year, the company posted $0.84 EPS. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Addus HomeCare

A number of institutional investors have recently added to or reduced their stakes in the company. Principal Securities Inc. purchased a new stake in shares of Addus HomeCare during the fourth quarter worth about $26,000. BluePath Capital Management LLC bought a new stake in shares of Addus HomeCare in the third quarter worth $31,000. GAMMA Investing LLC acquired a new stake in Addus HomeCare in the fourth quarter valued at $34,000. Assetmark Inc. boosted its stake in Addus HomeCare by 17.1% during the 3rd quarter. Assetmark Inc. now owns 1,331 shares of the company’s stock valued at $113,000 after acquiring an additional 194 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new position in Addus HomeCare during the 3rd quarter worth $189,000. Institutional investors and hedge funds own 95.35% of the company’s stock.

Addus HomeCare Price Performance

The company has a market cap of $1.71 billion, a P/E ratio of 27.24, a P/E/G ratio of 1.94 and a beta of 0.96. The company’s 50-day moving average price is $98.73 and its two-hundred day moving average price is $92.61. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.18.

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.