In a report released yesterday, Ryan Langston from TD Cowen reiterated a Buy rating on Addus Homecare, with a price target of $140.00.
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Ryan Langston has given his Buy rating due to a combination of factors including strong financial performance and strategic growth initiatives. Addus Homecare’s hospice segment showed a significant year-over-year revenue increase of 19%, driven by higher revenue per day and positive accounts receivable developments. The company’s personal care services also experienced growth, with an increase in service hours per business day and per census month.
Additionally, Addus Homecare is strategically positioned for future growth with its recent acquisition of Del Cielo Home Care Services, which is expected to contribute additional revenue and EBITDA. The company’s capital structure supports further strategic growth initiatives, including acquisitions, while maintaining a disciplined approach to managing its net leverage ratio. These factors, along with a slight increase in the price target to $140, underpin Langston’s Buy rating for Addus Homecare.
According to TipRanks, Langston is an analyst with an average return of -4.8% and a 43.75% success rate. Langston covers the Healthcare sector, focusing on stocks such as UnitedHealth, Elevance Health, and Molina Healthcare.
In another report released yesterday, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $136.00 price target.