Royal Bank of Canada Issues Pessimistic Forecast for Addus HomeCare (NASDAQ:ADUS) Stock Price

Addus HomeCare (NASDAQ:ADUS) had its price target cut by stock analysts at Royal Bank of Canada from $141.00 to $136.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 2.25% from the stock’s previous close.

Other analysts have also issued research reports about the company. TD Cowen boosted their price target on Addus HomeCare from $128.00 to $137.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Macquarie reiterated an “outperform” rating and set a $139.00 price objective on shares of Addus HomeCare in a research note on Monday. KeyCorp initiated coverage on shares of Addus HomeCare in a research note on Friday, October 11th. They set an “overweight” rating and a $150.00 target price on the stock. Oppenheimer upped their price target on shares of Addus HomeCare from $140.00 to $145.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd. Finally, Stephens restated an “overweight” rating and set a $138.00 price objective on shares of Addus HomeCare in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $130.75.

Addus HomeCare Price Performance

Shares of NASDAQ:ADUS traded up $8.84 during trading on Wednesday, hitting $133.01. The company’s stock had a trading volume of 32,902 shares, compared to its average volume of 131,183. The company has a 50-day moving average of $129.77 and a 200-day moving average of $120.85. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of 30.44, a P/E/G ratio of 2.29 and a beta of 1.04. Addus HomeCare has a 12 month low of $81.51 and a 12 month high of $136.12.

Addus HomeCare (NASDAQ:ADUS) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.02. The business had revenue of $289.80 million for the quarter, compared to analysts’ expectations of $289.42 million. Addus HomeCare had a net margin of 6.18% and a return on equity of 9.81%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.03 EPS. As a group, research analysts anticipate that Addus HomeCare will post 4.57 earnings per share 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 on Monday, August 26th. The shares were 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 directly owns 7,215 shares of the company’s stock, valued at approximately $961,687.35. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Esteban Lopez sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $130.03, for a total transaction of $65,015.00. Following the sale, the director now directly owns 3,866 shares of the company’s stock, valued at $502,695.98. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael D. Wattenbarger sold 21,917 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were 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 directly owns 7,215 shares of the company’s stock, valued at approximately $961,687.35. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,917 shares of company stock valued at $3,050,082. 4.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Addus HomeCare

Hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets raised its position in shares of Addus HomeCare by 20.3% during the 1st quarter. BNP Paribas Financial Markets now owns 11,854 shares of the company’s stock valued at $1,225,000 after buying an additional 2,000 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Addus HomeCare during the first quarter valued at approximately $715,000. Empowered Funds LLC lifted its stake in shares of Addus HomeCare by 9.8% in the 1st quarter. Empowered Funds LLC now owns 6,890 shares of the company’s stock valued at $712,000 after purchasing an additional 615 shares during the last quarter. TimesSquare Capital Management LLC boosted its holdings in shares of Addus HomeCare by 9.8% in the 1st quarter. TimesSquare Capital Management LLC now owns 289,998 shares of the company’s stock worth $29,968,000 after purchasing an additional 25,910 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Addus HomeCare by 9.3% in the 1st quarter. Russell Investments Group Ltd. now owns 46,764 shares of the company’s stock worth $4,833,000 after purchasing an additional 3,997 shares during the period. Hedge funds and other institutional investors own 95.35% of the company’s stock.

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.