Royal Bank of Canada Reiterates “Outperform” Rating for Addus HomeCare (NASDAQ:ADUS)

Addus HomeCare (NASDAQ:ADUS)‘s stock had its “outperform” rating reissued by investment analysts at Royal Bank of Canada in a report issued on Tuesday, Benzinga reports. They currently have a $141.00 price objective on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 7.98% from the stock’s previous close.

A number of other equities analysts also recently commented on the company. Oppenheimer upped their target price on Addus HomeCare from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Macquarie began coverage on shares of Addus HomeCare in a research report on Friday, June 28th. They set an “outperform” rating and a $136.00 price target on the stock. Stephens reissued an “overweight” rating and issued a $138.00 price target on shares of Addus HomeCare in a research note on Tuesday, August 6th. Bank of America lifted their price objective on Addus HomeCare from $115.00 to $118.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Finally, StockNews.com lowered Addus HomeCare from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 7th. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. According to MarketBeat, Addus HomeCare presently has a consensus rating of “Moderate Buy” and a consensus target price of $127.57.

Addus HomeCare Stock Up 0.4 %

NASDAQ:ADUS opened at $130.58 on Tuesday. The firm has a market capitalization of $2.36 billion, a P/E ratio of 32.40, a P/E/G ratio of 2.43 and a beta of 1.01. The company has a fifty day moving average of $124.13 and a 200 day moving average of $111.02. Addus HomeCare has a 52 week low of $78.35 and a 52 week high of $134.78.

Addus HomeCare (NASDAQ:ADUS) last posted its earnings results on Monday, August 5th. The company reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.14. Addus HomeCare had a net margin of 6.18% and a return on equity of 9.81%. The company had revenue of $286.90 million during the quarter, compared to analyst estimates of $284.90 million. During the same period in the prior year, the business posted $0.94 earnings per share. Addus HomeCare’s revenue for the quarter was up 10.4% on a year-over-year basis. As a group, analysts anticipate that Addus HomeCare will post 4.53 EPS for the current year.

Insider Transactions at Addus HomeCare

In related news, EVP Michael D. Wattenbarger sold 21,917 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $133.29, for a total transaction of $2,921,316.93. Following the completion of the transaction, the executive vice president now owns 7,215 shares of the company’s stock, valued at approximately $961,687.35. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Roberton James Stevenson sold 217 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $116.13, for a total transaction of $25,200.21. Following the sale, the executive vice president now owns 10,217 shares in the company, valued at $1,186,500.21. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Michael D. Wattenbarger sold 21,917 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $133.29, for a total transaction of $2,921,316.93. Following the completion of the transaction, the executive vice president now owns 7,215 shares of the company’s stock, valued at $961,687.35. The disclosure for this sale can be found here. Insiders own 4.60% of the company’s stock.

Institutional Trading of Addus HomeCare

Several institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. boosted its holdings in Addus HomeCare by 27.2% in the fourth quarter. Russell Investments Group Ltd. now owns 42,767 shares of the company’s stock worth $3,971,000 after purchasing an additional 9,137 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Addus HomeCare by 5.8% in the 4th quarter. Victory Capital Management Inc. now owns 32,034 shares of the company’s stock worth $2,974,000 after buying an additional 1,742 shares during the last quarter. Private Advisor Group LLC bought a new stake in shares of Addus HomeCare in the fourth quarter worth $237,000. Charles Schwab Investment Management Inc. increased its position in Addus HomeCare by 7.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 179,635 shares of the company’s stock valued at $16,679,000 after acquiring an additional 12,392 shares during the last quarter. Finally, TimesSquare Capital Management LLC lifted its holdings in Addus HomeCare by 13.0% in the fourth quarter. TimesSquare Capital Management LLC now owns 264,088 shares of the company’s stock valued at $24,521,000 after acquiring an additional 30,330 shares during the period. 95.35% of the stock is currently owned by hedge funds and other institutional investors.

Addus HomeCare Company Profile

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.