Addus Homecare Co. (ADUS) Cut to Hold at Zacks Investment Research

Addus Homecare Co. (NASDAQ:ADUS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, May 9th.

According to Zacks, “ADDUS HOMECARE is a comprehensive provider of a broad range of social and medical services in the home. The company’s services include personal care and assistance with activities of daily living, skilled nursing and rehabilitative therapies, and adult day care. Its consumers are individuals with special needs who are at risk of hospitalization or institutionalization, such as the elderly, chronically ill and disabled. Its payor clients include federal, state and local governmental agencies, the Veterans Health Administration, commercial insurers and private individuals. Addus operates its business through two divisions, home & community services and home health services. The home & community services are social, or non-medical, in nature and include assistance with bathing, grooming, dressing, personal hygiene and medication reminders, and other activities of daily living whereas the home health services are medical in nature and include physical, occupational and speech therapy, as well as skilled nursing. “

Separately, TheStreet upgraded Addus Homecare from a “c” rating to a “b-” rating in a research note on Wednesday, February 22nd.

Addus Homecare (NASDAQ:ADUS) traded up 0.53% during mid-day trading on Tuesday, reaching $37.95. The company had a trading volume of 76,899 shares. The firm’s 50-day moving average is $34.35 and its 200-day moving average is $33.67. Addus Homecare has a one year low of $16.55 and a one year high of $40.75. The firm has a market capitalization of $433.92 million, a P/E ratio of 26.84 and a beta of 0.75.

Addus Homecare (NASDAQ:ADUS) last released its earnings results on Monday, May 8th. The company reported $0.32 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.01. The company had revenue of $101.60 million during the quarter, compared to analysts’ expectations of $102.99 million. Addus Homecare had a return on equity of 9.26% and a net margin of 2.04%. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.28 EPS. On average, equities research analysts anticipate that Addus Homecare will post $1.59 earnings per share for the current fiscal year.

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In other Addus Homecare news, Director Michael Earley bought 2,000 shares of Addus Homecare stock in a transaction on Tuesday, March 14th. The stock was acquired at an average price of $33.77 per share, with a total value of $67,540.00. Following the acquisition, the director now owns 6,355 shares in the company, valued at $214,608.35. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Darby Anderson sold 8,000 shares of Addus Homecare stock in a transaction on Friday, March 10th. The stock was sold at an average price of $33.98, for a total value of $271,840.00. Following the completion of the sale, the executive vice president now directly owns 35,771 shares of the company’s stock, valued at approximately $1,215,498.58. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 169,356 shares of company stock valued at $6,625,716. 38.20% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. purchased a new position in Addus Homecare during the fourth quarter worth about $130,000. American International Group Inc. increased its position in Addus Homecare by 7.0% in the first quarter. American International Group Inc. now owns 4,548 shares of the company’s stock worth $146,000 after buying an additional 299 shares during the period. Hillsdale Investment Management Inc. purchased a new position in Addus Homecare during the first quarter worth about $160,000. US Bancorp DE increased its position in Addus Homecare by 2.0% in the third quarter. US Bancorp DE now owns 6,218 shares of the company’s stock valued at $163,000 after buying an additional 119 shares during the period. Finally, Ellington Management Group LLC bought a new position in Addus Homecare during the fourth quarter valued at $200,000. Hedge funds and other institutional investors own 97.06% of the company’s stock.

Addus Homecare Company Profile

Addus HomeCare Corporation is a provider of personal care services, which are provided primarily in the home. The Company’s personal care services include assistance with bathing, grooming, oral care, skincare, assistance with feeding and dressing, medication reminders, meal planning and preparation, housekeeping and transportation services and other activities of daily living.

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