Addus Homecare (NASDAQ:ADUS) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of Addus Homecare (NASDAQ:ADUS) from a strong-buy rating to a hold rating in a report published on Tuesday, Zacks.com reports.

According to Zacks, “ADDUS HOMECARE is a comprehensive provider of a broad range of social and medical services in the home. The company’s services include personal care and assistance with activities of daily living, skilled nursing and rehabilitative therapies, and adult day care. Its consumers are individuals with special needs who are at risk of hospitalization or institutionalization, such as the elderly, chronically ill and disabled. Its payor clients include federal, state and local governmental agencies, the Veterans Health Administration, commercial insurers and private individuals. Addus operates its business through two divisions, home & community services and home health services. The home & community services are social, or non-medical, in nature and include assistance with bathing, grooming, dressing, personal hygiene and medication reminders, and other activities of daily living whereas the home health services are medical in nature and include physical, occupational and speech therapy, as well as skilled nursing. “

Other research analysts also recently issued research reports about the stock. Sidoti increased their price objective on shares of Addus Homecare from $84.00 to $96.00 and gave the company a buy rating in a report on Tuesday, August 6th. BidaskClub raised shares of Addus Homecare from a hold rating to a buy rating in a report on Saturday, July 27th. Raymond James set a $92.00 price objective on shares of Addus Homecare and gave the company an outperform rating in a report on Wednesday, August 7th. Oppenheimer increased their price objective on shares of Addus Homecare from $80.00 to $91.00 and gave the company a buy rating in a report on Wednesday, August 7th. Finally, BMO Capital Markets set a $85.00 price objective on shares of Addus Homecare and gave the company a hold rating in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $83.44.

Shares of ADUS stock opened at $88.43 on Tuesday. Addus Homecare has a 52-week low of $57.94 and a 52-week high of $92.91. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.87 and a current ratio of 2.84. The firm has a market capitalization of $1.17 billion, a PE ratio of 52.33, a PEG ratio of 2.68 and a beta of -0.10. The stock has a fifty day simple moving average of $79.13 and a two-hundred day simple moving average of $70.23.

Addus Homecare (NASDAQ:ADUS) last released its quarterly earnings data on Monday, August 5th. The company reported $0.47 EPS for the quarter, meeting the consensus estimate of $0.47. Addus Homecare had a net margin of 3.31% and a return on equity of 8.55%. The business had revenue of $149.69 million during the quarter, compared to the consensus estimate of $146.66 million. On average, sell-side analysts forecast that Addus Homecare will post 2.01 EPS for the current fiscal year.

In related news, insider W Bradley Bickham sold 15,000 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $80.67, for a total value of $1,210,050.00. Following the completion of the transaction, the insider now owns 38,311 shares of the company’s stock, valued at approximately $3,090,548.37. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark L. First sold 440,000 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $74.08, for a total transaction of $32,595,200.00. Following the completion of the transaction, the director now directly owns 19,151 shares of the company’s stock, valued at approximately $1,418,706.08. The disclosure for this sale can be found here. 20.10% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in the stock. Eaton Vance Management increased its position in shares of Addus Homecare by 22.0% during the second quarter. Eaton Vance Management now owns 171,626 shares of the company’s stock worth $12,863,000 after acquiring an additional 30,942 shares during the period. United Services Automobile Association increased its position in shares of Addus Homecare by 12.1% during the second quarter. United Services Automobile Association now owns 4,855 shares of the company’s stock worth $364,000 after acquiring an additional 523 shares during the period. Zacks Investment Management purchased a new position in shares of Addus Homecare during the second quarter worth approximately $1,169,000. Nuveen Asset Management LLC purchased a new position in shares of Addus Homecare during the second quarter worth approximately $3,850,000. Finally, Victory Capital Management Inc. increased its position in shares of Addus Homecare by 6.9% during the second quarter. Victory Capital Management Inc. now owns 36,647 shares of the company’s stock worth $2,747,000 after acquiring an additional 2,351 shares during the period. 97.81% of the stock is owned by hedge funds and other institutional investors.

About Addus Homecare

Addus HomeCare Corporation provides personal care services to elderly, chronically ill, disabled persons, and individuals who are at risk of hospitalization or institutionalization in the United States. It operates in three segments: Personal Care, Hospice, and Home Health. The Personal Care segment provides non-medical assistance with activities of daily living.

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