Enhabit (NYSE:EHAB) Trading 3% Higher – What’s Next?

Enhabit, Inc. (NYSE:EHAB) shares shot up 3% during mid-day trading on Wednesday . The stock traded as high as $8.82 and last traded at $8.76. 522,580 shares were traded during trading, an increase of 69% from the average session volume of 309,106 shares. The stock had previously closed at $8.50.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on EHAB shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Enhabit in a research report on Wednesday, October 8th. UBS Group decreased their target price on shares of Enhabit from $10.00 to $8.50 and set a “neutral” rating on the stock in a research note on Friday, August 8th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $8.67.

Enhabit Stock Up 3.0%

The company has a debt-to-equity ratio of 0.79, a current ratio of 1.57 and a quick ratio of 1.57. The company has a market capitalization of $443.79 million, a PE ratio of -3.28 and a beta of 1.69. The business’s 50 day simple moving average is $8.00 and its 200 day simple moving average is $8.33.

Enhabit (NYSE:EHAB) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. The business had revenue of $266.10 million during the quarter, compared to the consensus estimate of $263.39 million. Enhabit had a negative net margin of 12.84% and a positive return on equity of 2.72%. As a group, analysts anticipate that Enhabit, Inc. will post 0.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Enhabit news, CFO Ryan Solomon purchased 10,000 shares of the firm’s stock in a transaction dated Friday, August 8th. The shares were acquired at an average price of $7.64 per share, with a total value of $76,400.00. Following the purchase, the chief financial officer directly owned 193,468 shares in the company, valued at approximately $1,478,095.52. This trade represents a 5.45% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 3.40% of the stock is owned by corporate insiders.

Institutional Trading of Enhabit

A number of hedge funds and other institutional investors have recently modified their holdings of EHAB. GAMMA Investing LLC increased its position in shares of Enhabit by 295.2% during the first quarter. GAMMA Investing LLC now owns 3,533 shares of the company’s stock valued at $31,000 after acquiring an additional 2,639 shares during the last quarter. CWM LLC boosted its position in shares of Enhabit by 383.6% during the 1st quarter. CWM LLC now owns 11,738 shares of the company’s stock worth $103,000 after purchasing an additional 9,311 shares during the period. Prescott Group Capital Management L.L.C. increased its holdings in Enhabit by 5.0% in the 1st quarter. Prescott Group Capital Management L.L.C. now owns 208,412 shares of the company’s stock valued at $1,832,000 after purchasing an additional 10,000 shares during the last quarter. Mackenzie Financial Corp raised its position in Enhabit by 12.1% in the first quarter. Mackenzie Financial Corp now owns 14,468 shares of the company’s stock valued at $127,000 after purchasing an additional 1,564 shares during the period. Finally, GSA Capital Partners LLP raised its position in Enhabit by 10.4% in the first quarter. GSA Capital Partners LLP now owns 160,813 shares of the company’s stock valued at $1,414,000 after purchasing an additional 15,114 shares during the period.

About Enhabit

Enhabit, Inc provides home health and hospice services in the United States. Its home health services include patient education, pain management, wound care and dressing changes, cardiac rehabilitation, infusion therapy, pharmaceutical administration, and skilled observation and assessment services; practices to treat chronic diseases and conditions, including diabetes, hypertension, arthritis, Alzheimer's disease, low vision, spinal stenosis, Parkinson's disease, osteoporosis, complex wound care and chronic pain, along with disease-specific plans for patients with diabetes, congestive heart failure, post-orthopedic surgery, or injury and respiratory diseases; and physical, occupational and speech therapists provide therapy services.