Addus Homecare (ADUS) Lowered to Strong Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Addus Homecare (NASDAQ:ADUS) from a hold rating to a strong sell rating in a research report sent to investors on Monday.

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. “

A number of other equities analysts have also recently commented on the stock. BidaskClub cut shares of Addus Homecare from a strong-buy rating to a buy rating in a research note on Tuesday, July 10th. Stephens boosted their price target on shares of Addus Homecare from $67.00 to $75.00 and gave the stock an overweight rating in a research note on Tuesday, August 7th. Robert W. Baird reiterated a hold rating and issued a $65.00 target price on shares of Addus Homecare in a research report on Wednesday, August 8th. Oppenheimer upped their target price on shares of Addus Homecare from $50.00 to $72.00 and gave the stock an outperform rating in a research report on Wednesday, August 8th. Finally, Raymond James assumed coverage on shares of Addus Homecare in a research report on Monday, August 20th. They issued an outperform rating and a $75.00 target price for the company. One analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $72.50.



Addus Homecare stock traded down $2.78 during midday trading on Monday, hitting $63.42. 755 shares of the company’s stock were exchanged, compared to its average volume of 92,654. Addus Homecare has a 52-week low of $30.95 and a 52-week high of $72.55. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 0.53. The stock has a market cap of $799.05 million, a price-to-earnings ratio of 44.48, a PEG ratio of 2.53 and a beta of -0.54.

Addus Homecare (NASDAQ:ADUS) last issued its quarterly earnings data on Tuesday, August 7th. The company reported $0.50 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.01). Addus Homecare had a return on equity of 10.45% and a net margin of 3.43%. The business had revenue of $131.24 million for the quarter, compared to analysts’ expectations of $127.81 million. On average, research analysts anticipate that Addus Homecare will post 1.65 earnings per share for the current year.

In other Addus Homecare news, major shareholder Eos Capital Partners Iii L. P sold 1,024,733 shares of the company’s stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $59.00, for a total value of $60,459,247.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 34.80% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in Addus Homecare during the second quarter valued at about $118,000. Paloma Partners Management Co purchased a new stake in Addus Homecare during the 2nd quarter valued at about $201,000. Hartford Investment Management Co. purchased a new stake in Addus Homecare during the 2nd quarter valued at about $275,000. Bank of America Corp DE boosted its holdings in Addus Homecare by 240.4% during the 2nd quarter. Bank of America Corp DE now owns 5,878 shares of the company’s stock valued at $336,000 after acquiring an additional 4,151 shares during the period. Finally, Macquarie Group Ltd. purchased a new stake in Addus Homecare during the 2nd quarter valued at about $366,000. 82.54% of the stock is owned by institutional investors.

About Addus Homecare

Addus HomeCare Corporation 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's personal care services offer assistance with activities of daily living. Its services include assistance with bathing, grooming, oral care, assistance with feeding and dressing, medication reminders, meal planning and preparation, housekeeping, and transportation services, as well as other activities of daily living.

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