Short Interest in Enhabit, Inc. (NYSE:EHAB) Drops By 17.0%

Enhabit, Inc. (NYSE:EHAB) was the recipient of a large drop in short interest during the month of July. As of July 31st, there was short interest totalling 2,680,000 shares, a drop of 17.0% from the July 15th total of 3,230,000 shares. Based on an average daily volume of 593,500 shares, the days-to-cover ratio is presently 4.5 days. Approximately 5.5% of the shares of the company are short sold.

Analysts Set New Price Targets

Several brokerages have recently issued reports on EHAB. SVB Leerink raised Enhabit from an “underperform” rating to a “market perform” rating and set a $8.50 target price for the company in a research report on Tuesday, May 14th. Jefferies Financial Group lowered Enhabit from a “buy” rating to a “hold” rating and decreased their target price for the company from $14.00 to $8.75 in a research report on Thursday, May 9th. Bank of America cut their price target on Enhabit from $9.00 to $8.00 and set an “underperform” rating for the company in a research note on Thursday, June 27th. Finally, Leerink Partnrs upgraded Enhabit from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 14th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $9.35.

Enhabit Stock Down 2.2 %

EHAB stock opened at $8.36 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.50 and a current ratio of 1.50. The company has a market capitalization of $419.30 million, a price-to-earnings ratio of -5.04, a PEG ratio of 1.58 and a beta of 1.85. Enhabit has a fifty-two week low of $7.12 and a fifty-two week high of $13.13. The stock has a fifty day moving average of $9.13 and a 200-day moving average of $9.58.

Enhabit (NYSE:EHAB) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.02. Enhabit had a positive return on equity of 1.43% and a negative net margin of 7.95%. The company had revenue of $260.60 million during the quarter, compared to the consensus estimate of $265.99 million. During the same quarter in the prior year, the company earned $0.04 EPS. As a group, equities research analysts predict that Enhabit will post 0.24 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in EHAB. Gladius Capital Management LP bought a new position in Enhabit in the 2nd quarter worth about $31,000. Quarry LP boosted its stake in Enhabit by 242.2% in the 2nd quarter. Quarry LP now owns 3,703 shares of the company’s stock worth $33,000 after purchasing an additional 2,621 shares during the period. Allspring Global Investments Holdings LLC bought a new position in Enhabit in the 1st quarter worth about $44,000. Canada Pension Plan Investment Board bought a new position in Enhabit in the 2nd quarter worth about $93,000. Finally, AQR Capital Management LLC bought a new position in Enhabit in the 2nd quarter worth about $94,000.

Enhabit Company Profile

Enhabit, Inc provides home health and hospice services in the United States. Its home health services include patient education, pain management, wound care and dressing changes, cardiac rehabilitation, infusion therapy, pharmaceutical administration, and skilled observation and assessment services; practices to treat chronic diseases and conditions, including diabetes, hypertension, arthritis, Alzheimer's disease, low vision, spinal stenosis, Parkinson's disease, osteoporosis, complex wound care and chronic pain, along with disease-specific plans for patients with diabetes, congestive heart failure, post-orthopedic surgery, or injury and respiratory diseases; and physical, occupational and speech therapists provide therapy services.