Addus HomeCare (NASDAQ:ADUS) Stock Price Up 5.6% Following Better-Than-Expected Earnings

Addus HomeCare Co. (NASDAQ:ADUS) shares rose 5.6% during trading on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $103.40 and last traded at $103.40. Approximately 116,571 shares were traded during mid-day trading, a decline of 5% from the average daily volume of 122,499 shares. The stock had previously closed at $97.89.

The company reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.24. The firm had revenue of $280.70 million during the quarter, compared to the consensus estimate of $279.49 million. Addus HomeCare had a return on equity of 9.70% and a net margin of 5.91%. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.84 EPS.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Royal Bank of Canada restated an “outperform” rating and issued a $102.00 price objective on shares of Addus HomeCare in a research note on Thursday, February 29th. Stephens reiterated an “overweight” rating and issued a $115.00 price objective on shares of Addus HomeCare in a research note on Tuesday. William Blair restated an “outperform” rating on shares of Addus HomeCare in a research report on Monday, February 5th. Oppenheimer reiterated an “outperform” rating and issued a $118.00 price target on shares of Addus HomeCare in a research report on Tuesday, March 26th. Finally, Barclays cut Addus HomeCare from an “equal weight” rating to an “underweight” rating and set a $83.00 price objective on the stock. in a report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.57.

Hedge Funds Weigh In On Addus HomeCare

Institutional investors have recently made changes to their positions in the stock. TimesSquare Capital Management LLC increased its stake in Addus HomeCare by 9.8% in the first quarter. TimesSquare Capital Management LLC now owns 289,998 shares of the company’s stock valued at $29,968,000 after acquiring an additional 25,910 shares during the last quarter. Empowered Funds LLC lifted its position in Addus HomeCare by 9.8% in the 1st quarter. Empowered Funds LLC now owns 6,890 shares of the company’s stock worth $712,000 after buying an additional 615 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Addus HomeCare during the first quarter worth approximately $715,000. BNP Paribas Financial Markets boosted its stake in shares of Addus HomeCare by 20.3% in the 1st quarter. BNP Paribas Financial Markets now owns 11,854 shares of the company’s stock valued at $1,225,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Argent Capital Management LLC raised its position in Addus HomeCare by 148.5% in the 1st quarter. Argent Capital Management LLC now owns 24,625 shares of the company’s stock worth $2,545,000 after purchasing an additional 14,715 shares during the period. Institutional investors own 95.35% of the company’s stock.

Addus HomeCare Price Performance

The firm’s 50 day simple moving average is $98.73 and its two-hundred day simple moving average is $92.61. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.38 and a quick ratio of 1.38. The firm has a market capitalization of $1.71 billion, a P/E ratio of 27.24, a P/E/G ratio of 1.94 and a beta of 0.96.

About Addus HomeCare

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