Bank of America Reiterates “Neutral” Rating for Addus HomeCare (NASDAQ:ADUS)

Addus HomeCare (NASDAQ:ADUS)‘s stock had its “neutral” rating reaffirmed by research analysts at Bank of America in a report released on Monday, Benzinga reports. They currently have a $125.00 price target on the stock, down from their prior price target of $140.00. Bank of America‘s target price would indicate a potential upside of 6.76% from the stock’s current price.

A number of other equities analysts have also issued reports on ADUS. Citigroup reiterated a “market outperform” rating on shares of Addus HomeCare in a research report on Friday, July 24th. Weiss Ratings raised Addus HomeCare from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 9th. Barclays increased their price objective on Addus HomeCare from $92.00 to $96.00 and gave the company an “underweight” rating in a research report on Wednesday, July 8th. Royal Bank Of Canada boosted their target price on Addus HomeCare from $130.00 to $134.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and set a $142.00 price target on shares of Addus HomeCare in a research note on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $128.38.

Addus HomeCare Stock Performance

NASDAQ ADUS opened at $117.09 on Monday. Addus HomeCare has a 1-year low of $87.95 and a 1-year high of $124.43. The company has a 50 day moving average of $115.65 and a 200-day moving average of $103.25. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.05. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 1.57 and a beta of 0.86.

Addus HomeCare (NASDAQ:ADUS) last released its quarterly earnings results on Monday, August 3rd. The company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.03. The business had revenue of $377.41 million during the quarter, compared to analysts’ expectations of $376.24 million. Addus HomeCare had a return on equity of 9.96% and a net margin of 7.13%.The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.49 earnings per share. On average, equities analysts forecast that Addus HomeCare will post 6.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Addus HomeCare news, insider Heather Dixon sold 288 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $93.77, for a total transaction of $27,005.76. Following the completion of the sale, the insider owned 44,371 shares in the company, valued at approximately $4,160,668.67. The trade was a 0.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Addus HomeCare

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC lifted its stake in Addus HomeCare by 395.7% in the fourth quarter. Global Retirement Partners LLC now owns 233 shares of the company’s stock valued at $25,000 after buying an additional 186 shares during the period. Larson Financial Group LLC increased its stake in shares of Addus HomeCare by 133.3% in the 3rd quarter. Larson Financial Group LLC now owns 238 shares of the company’s stock valued at $28,000 after acquiring an additional 136 shares during the last quarter. NFJ Investment Group LLC bought a new stake in shares of Addus HomeCare in the 2nd quarter valued at about $29,000. Acumen Wealth Advisors LLC acquired a new stake in shares of Addus HomeCare in the 4th quarter valued at approximately $29,000. Finally, Arax Advisory Partners boosted its stake in Addus HomeCare by 95.8% during the 4th quarter. Arax Advisory Partners now owns 280 shares of the company’s stock worth $30,000 after acquiring an additional 137 shares during the last quarter. Institutional investors own 95.35% of the company’s stock.

About Addus HomeCare

Addus HomeCare Corporation provides home-based care services to older adults, people with disabilities and individuals with chronic or complex medical needs. The company operates through three primary service lines: personal care, hospice and home health.

Its personal care services include assistance with daily living activities, such as bathing, dressing, meal preparation and household tasks. Addus also provides hospice care for individuals with terminal illnesses, as well as home health services that may include skilled nursing, therapy and other clinical support.