Addus HomeCare (NASDAQ:ADUS) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Addus HomeCare Corporation (NASDAQ:ADUS)’s share price crossed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $105.85 and traded as high as $118.18. Addus HomeCare shares last traded at $118.03, with a volume of 138,916 shares traded.

Wall Street Analyst Weigh In

ADUS has been the topic of several analyst reports. Royal Bank Of Canada lifted their target price on shares of Addus HomeCare from $130.00 to $134.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Barclays boosted their price target on shares of Addus HomeCare from $92.00 to $96.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 8th. Raymond James Financial set a $137.00 price target on shares of Addus HomeCare in a report on Monday, September 28th. Citigroup downgraded shares of Addus HomeCare from a “market outperform” rating to a “neutral” rating in a research report on Monday, September 14th. Finally, Bank of America reaffirmed a “neutral” rating and issued a $125.00 price objective (down from $140.00) on shares of Addus HomeCare in a report on Monday, September 14th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $129.33.

Addus HomeCare Trading Up 4.0%

The firm has a market cap of $2.29 billion, a price-to-earnings ratio of 21.52, a PEG ratio of 1.68 and a beta of 0.83. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.69 and a current ratio of 1.69. The business has a fifty day moving average of $116.45 and a two-hundred day moving average of $106.26.

Addus HomeCare (NASDAQ:ADUS) last announced its quarterly earnings results on Monday, August 3rd. The company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.03. Addus HomeCare had a return on equity of 9.96% and a net margin of 7.13%. The business had revenue of $377.41 million during the quarter, compared to analysts’ expectations of $376.24 million. During the same quarter last year, the business posted $1.49 earnings per share. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. As a group, equities analysts expect that Addus HomeCare Corporation will post 6.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Addus HomeCare

Hedge funds have recently added to or reduced their stakes in the business. NFJ Investment Group LLC purchased a new stake in shares of Addus HomeCare in the second quarter valued at about $29,000. Caitong International Asset Management Co. Ltd grew its position in shares of Addus HomeCare by 73.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 325 shares of the company’s stock valued at $35,000 after purchasing an additional 138 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of Addus HomeCare by 66.3% during the 1st quarter. Parallel Advisors LLC now owns 404 shares of the company’s stock worth $38,000 after purchasing an additional 161 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Addus HomeCare by 16.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 769 shares of the company’s stock worth $85,000 after purchasing an additional 111 shares in the last quarter. Finally, State of Wyoming purchased a new position in shares of Addus HomeCare during the 2nd quarter worth approximately $79,000. 95.35% of the stock is currently owned by hedge funds and other institutional investors.

About Addus HomeCare

Addus HomeCare Inc (NASDAQ: ADUS) provides in-home personal care, hospice and home health services to older adults, people with disabilities and other individuals who need assistance with daily living or medical care. Its services are designed to help clients remain safely and independently in their homes while supporting families and caregivers.

The company’s personal care services include assistance with bathing, dressing, grooming, meal preparation, housekeeping and other activities of daily living.