Oppenheimer Believes Addus Homecare Corp (NASDAQ: ADUS) Won’t Stop Here


In a report released today, Michael Wiederhorn from Oppenheimer maintained a Buy rating on Addus Homecare Corp (NASDAQ: ADUS), with a price target of $59. The company’s shares opened today at $52, close to its 52-week high of $55.75.

Wiederhorn observed:

“ADUS reported Q1:18 adj EPS of $0.42 (GAAP: $0.42) compared to OPCO/Street of $0.44/$0.39. Adj results exclude $0.16 of prompt payment interest income from IL, offset by $0.07 of M&A expenses, $0.02 of restructuring, $0.01 of severance and $0.06 of stock-based comp. Compared to our estimate, ADUS also benefited by ~$0.02/shr from a lower tax rate. While results missed our aggressive estimates, they were solid overall, driven by 4.6% same-store growth. Furthermore, cash flow remained strong, with OCF of $14.3M. Following the quarter we are tweaking our Q2:18 estimate lower for conservatism around the early integration, but largely maintaining estimates for the longer term. Our FY2018/2019 EPS estimates are now $2.28/$2.79 compared to $2.39/$2.79, which already reflect the accretion from the recent M&A.”

According to TipRanks.com, Wiederhorn is a top 100 analyst with an average return of 14.7% and a 70.7% success rate. Wiederhorn covers the Services sector, focusing on stocks such as Cross Country Healthcare, Envision Healthcare, and Community Health.

Addus Homecare Corp has an analyst consensus of Moderate Buy, with a price target consensus of $52.67.

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Based on Addus Homecare Corp’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $3.24 million. In comparison, last year the company had a net profit of $4.26 million.

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Addus HomeCare Corp. engages in the provision of in-home personal care services. It includes 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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