William Blair analyst Ryan Daniels has maintained their bullish stance on ADUS stock, giving a Buy rating on June 20.
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Ryan Daniels has given his Buy rating due to a combination of factors that could positively impact Addus Homecare. One significant factor is the proposed rule by the Department of Labor, which aims to reinstate exemptions for home care agencies from federal minimum wage and overtime requirements. This change could alleviate financial pressures on home care providers, allowing them to manage labor costs more effectively.
Furthermore, the exemption from overtime requirements is particularly beneficial for agencies like Addus, as it would enable them to consolidate operations and reduce the need for caregivers to work across multiple agencies. This could lead to improved efficiency and potentially enhance the company’s profitability. Overall, the proposed regulatory changes present a favorable environment for Addus Homecare, supporting the Buy rating.
In another report released on June 20, Citizens JMP also reiterated a Buy rating on the stock with a $150.00 price target.
Based on the recent corporate insider activity of 63 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ADUS in relation to earlier this year.