Truist Financial Upgrades Addus HomeCare (NASDAQ:ADUS) to Strong-Buy

Addus HomeCare (NASDAQ:ADUS) was upgraded by stock analysts at Truist Financial to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

A number of other analysts have also issued reports on ADUS. BMO Capital Markets initiated coverage on Addus HomeCare in a research note on Thursday, November 13th. They set a “market perform” rating and a $120.00 price objective on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Addus HomeCare in a research report on Wednesday, October 8th. TD Cowen increased their price target on shares of Addus HomeCare from $139.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Barclays raised their price objective on shares of Addus HomeCare from $111.00 to $117.00 and gave the company an “underweight” rating in a research report on Tuesday, November 4th. Finally, Cowen reaffirmed a “buy” rating on shares of Addus HomeCare in a report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Addus HomeCare currently has a consensus rating of “Moderate Buy” and an average target price of $136.90.

Addus HomeCare Stock Performance

NASDAQ ADUS opened at $112.33 on Wednesday. The firm has a market cap of $2.08 billion, a P/E ratio of 24.05, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.14. The company’s 50 day moving average is $113.26 and its 200-day moving average is $113.44. Addus HomeCare has a 12-month low of $88.96 and a 12-month high of $136.72.

Addus HomeCare (NASDAQ:ADUS) last released its quarterly earnings data on Monday, November 3rd. The company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.03. Addus HomeCare had a net margin of 6.36% and a return on equity of 9.53%. The business had revenue of $362.30 million during the quarter, compared to analyst estimates of $354.48 million. During the same period in the previous year, the business earned $1.30 EPS. Addus HomeCare’s revenue was up 25.0% compared to the same quarter last year. Sell-side analysts predict that Addus HomeCare will post 4.59 earnings per share for the current year.

Insider Buying and Selling at Addus HomeCare

In related news, EVP Darby Anderson sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $109.00, for a total value of $2,180,000.00. Following the sale, the executive vice president directly owned 44,144 shares of the company’s stock, valued at $4,811,696. This trade represents a 31.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 20,316 shares of company stock valued at $2,215,998 in the last quarter. 4.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Addus HomeCare

A number of institutional investors have recently made changes to their positions in ADUS. Vanguard Group Inc. lifted its holdings in shares of Addus HomeCare by 2.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,298,104 shares of the company’s stock worth $153,163,000 after acquiring an additional 36,674 shares during the last quarter. Capital Research Global Investors lifted its stake in Addus HomeCare by 9.0% during the third quarter. Capital Research Global Investors now owns 1,201,560 shares of the company’s stock worth $141,772,000 after purchasing an additional 99,262 shares during the last quarter. Wasatch Advisors LP boosted its holdings in shares of Addus HomeCare by 0.8% in the 3rd quarter. Wasatch Advisors LP now owns 936,243 shares of the company’s stock worth $110,467,000 after purchasing an additional 7,089 shares in the last quarter. State Street Corp increased its position in shares of Addus HomeCare by 1.3% during the 2nd quarter. State Street Corp now owns 693,368 shares of the company’s stock valued at $79,869,000 after purchasing an additional 8,925 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Addus HomeCare by 1.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 667,256 shares of the company’s stock valued at $78,729,000 after purchasing an additional 7,884 shares during the last quarter. Institutional investors own 95.35% of the company’s stock.

Addus HomeCare Company Profile

Addus HomeCare (NASDAQ: ADUS) is a leading provider of home and community-based care services for elderly, disabled, and medically complex individuals across the United States. Through a network of company-owned and franchise locations, the company delivers a broad spectrum of non-medical personal care and licensed home health services designed to support clients’ independence and quality of life.

The company’s core offerings include personal care assistance—covering daily living activities, medication reminders, and light housekeeping—and skilled home health services delivered under the supervision of registered nurses and licensed therapists.