Addus Homecare (ADUS) Earns Outperform Rating from Analysts at Raymond James

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Raymond James started coverage on shares of Addus Homecare (NASDAQ:ADUS) in a research note released on Monday morning, MarketBeat.com reports. The firm issued an outperform rating and a $75.00 price objective on the stock.

ADUS has been the topic of several other reports. Zacks Investment Research upgraded shares of Addus Homecare from a hold rating to a strong-buy rating and set a $60.00 price target on the stock in a research report on Tuesday, May 8th. Robert W. Baird reiterated a hold rating and issued a $65.00 price target on shares of Addus Homecare in a research report on Wednesday, August 8th. BidaskClub lowered shares of Addus Homecare from a strong-buy rating to a buy rating in a research report on Friday, June 8th. Oppenheimer increased their price target on shares of Addus Homecare from $50.00 to $72.00 and gave the company an outperform rating in a research report on Wednesday, August 8th. Finally, Stephens increased their price target on shares of Addus Homecare from $67.00 to $75.00 and gave the company an overweight rating in a research report on Tuesday, August 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Addus Homecare has an average rating of Hold and an average target price of $69.40.

ADUS stock opened at $59.85 on Monday. The company has a market capitalization of $697.16 million, a PE ratio of 37.48, a price-to-earnings-growth ratio of 2.45 and a beta of -0.39. Addus Homecare has a 12 month low of $30.95 and a 12 month high of $71.78. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 0.53.

Addus Homecare (NASDAQ:ADUS) last released its quarterly earnings results on Tuesday, August 7th. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.01). The business had revenue of $131.24 million during the quarter, compared to analyst estimates of $127.81 million. Addus Homecare had a net margin of 3.43% and a return on equity of 10.45%. equities analysts anticipate that Addus Homecare will post 1.63 EPS for the current fiscal year.

In related news, major shareholder Eos Capital Partners Iii L. P sold 1,024,733 shares of the company’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $59.00, for a total transaction of $60,459,247.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 34.80% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Millennium Management LLC lifted its stake in shares of Addus Homecare by 488.0% during the second quarter. Millennium Management LLC now owns 67,137 shares of the company’s stock valued at $3,844,000 after buying an additional 55,719 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new position in shares of Addus Homecare during the second quarter valued at approximately $573,000. Zacks Investment Management purchased a new position in shares of Addus Homecare during the second quarter valued at approximately $1,142,000. Paloma Partners Management Co purchased a new position in shares of Addus Homecare during the second quarter valued at approximately $201,000. Finally, Macquarie Group Ltd. purchased a new position in shares of Addus Homecare during the second quarter valued at approximately $366,000. 92.91% of the stock is currently owned by institutional investors and hedge funds.

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. The company's personal care services offer assistance with activities of daily living. Its services include assistance with bathing, grooming, oral care, assistance with feeding and dressing, medication reminders, meal planning and preparation, housekeeping, and transportation services, as well as other activities of daily living.

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