Addus HomeCare (NASDAQ:ADUS) Shares Gap Down on Analyst Downgrade

Addus HomeCare Co. (NASDAQ:ADUSGet Rating)’s stock price gapped down before the market opened on Tuesday after Stephens lowered their price target on the stock from $110.00 to $101.00. The stock had previously closed at $77.81, but opened at $75.00. Addus HomeCare shares last traded at $73.95, with a volume of 281 shares changing hands.

Several other equities analysts also recently commented on ADUS. Bank of America assumed coverage on shares of Addus HomeCare in a report on Wednesday, April 13th. They set a “buy” rating and a $110.00 price target on the stock. Royal Bank of Canada cut their price target on shares of Addus HomeCare from $125.00 to $111.00 in a report on Wednesday, May 4th. Finally, StockNews.com assumed coverage on shares of Addus HomeCare in a report on Thursday, March 31st. They set a “buy” rating on the stock. Four analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $109.25.

In other Addus HomeCare news, EVP Michael D. Wattenbarger sold 1,718 shares of the business’s stock in a transaction dated Tuesday, May 24th. The shares were sold at an average price of $85.00, for a total value of $146,030.00. Following the completion of the sale, the executive vice president now directly owns 7,012 shares of the company’s stock, valued at approximately $596,020. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last three months, insiders sold 1,992 shares of company stock valued at $168,502. 4.50% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System lifted its position in shares of Addus HomeCare by 0.5% in the 3rd quarter. California State Teachers Retirement System now owns 21,306 shares of the company’s stock worth $1,699,000 after purchasing an additional 111 shares during the period. Maryland State Retirement & Pension System lifted its position in shares of Addus HomeCare by 2.1% in the 1st quarter. Maryland State Retirement & Pension System now owns 6,442 shares of the company’s stock worth $601,000 after purchasing an additional 130 shares during the period. Public Employees Retirement System of Ohio lifted its position in shares of Addus HomeCare by 41.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 448 shares of the company’s stock worth $42,000 after purchasing an additional 132 shares during the period. Advisor Group Holdings Inc. lifted its position in shares of Addus HomeCare by 9.1% in the 4th quarter. Advisor Group Holdings Inc. now owns 1,783 shares of the company’s stock worth $167,000 after purchasing an additional 149 shares during the period. Finally, Envestnet Asset Management Inc. lifted its position in shares of Addus HomeCare by 1.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 8,938 shares of the company’s stock worth $834,000 after purchasing an additional 159 shares during the period. 96.04% of the stock is owned by hedge funds and other institutional investors.

The stock’s 50-day moving average is $83.46 and its 200 day moving average is $83.44. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.65 and a quick ratio of 2.65. The company has a market cap of $1.20 billion, a PE ratio of 27.99, a PEG ratio of 2.11 and a beta of 0.87.

Addus HomeCare (NASDAQ:ADUSGet Rating) last posted its earnings results on Monday, May 2nd. The company reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). Addus HomeCare had a net margin of 5.05% and a return on equity of 8.83%. The firm had revenue of $226.63 million for the quarter, compared to analysts’ expectations of $227.54 million. During the same period in the previous year, the company earned $0.62 EPS. On average, analysts expect that Addus HomeCare Co. will post 3.22 EPS for the current year.

About Addus HomeCare (NASDAQ:ADUS)

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. It operates through three segments: Personal Care, Hospice, and Home Health.

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