Almost Family Inc (AFAM) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Almost Family Inc (NASDAQ:AFAM) from a sell rating to a hold rating in a report published on Tuesday.

According to Zacks, “Almost Family, Inc. is a regionally focused provider of home health services. They have service locations in Florida, Ohio, Tennessee, New York, Kentucky, Connecticut, New Jersey, Massachusetts, Indiana, Illinois, Pennsylvania, Georgia, Missouri, Mississippi and Alabama. The Company has two divisions, Home Health care and Healthcare Innovations. “

A number of other brokerages have also recently commented on AFAM. Robert W. Baird reiterated a hold rating and issued a $55.00 target price on shares of Almost Family in a research report on Tuesday, September 19th. ValuEngine upgraded shares of Almost Family from a hold rating to a buy rating in a research report on Friday, September 1st. Royal Bank Of Canada reiterated a buy rating and issued a $63.00 target price on shares of Almost Family in a research report on Tuesday, June 13th. BidaskClub cut shares of Almost Family from a hold rating to a sell rating in a research report on Tuesday, August 1st. Finally, J P Morgan Chase & Co began coverage on shares of Almost Family in a research report on Monday. They issued a neutral rating and a $54.00 target price for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $57.40.

Shares of Almost Family (AFAM) traded down 1.28% during mid-day trading on Tuesday, reaching $46.10. 5,847 shares of the company’s stock were exchanged. The company’s 50 day moving average is $48.87 and its 200 day moving average is $52.53. Almost Family has a 1-year low of $36.39 and a 1-year high of $62.95. The stock has a market capitalization of $632.35 million, a PE ratio of 31.38 and a beta of 0.47.

Almost Family (NASDAQ:AFAM) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $0.56 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.56. The business had revenue of $200.70 million for the quarter, compared to the consensus estimate of $205.48 million. Almost Family had a net margin of 2.43% and a return on equity of 7.09%. The company’s revenue was up 28.7% compared to the same quarter last year. During the same period last year, the firm posted $0.61 earnings per share. Equities research analysts anticipate that Almost Family will post $2.18 EPS for the current fiscal year.

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In related news, SVP John Shermyen sold 2,000 shares of the firm’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $52.00, for a total transaction of $104,000.00. Following the completion of the sale, the senior vice president now directly owns 79,864 shares in the company, valued at $4,152,928. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 13.10% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Wells Fargo & Company MN increased its position in shares of Almost Family by 188.8% during the first quarter. Wells Fargo & Company MN now owns 23,048 shares of the company’s stock valued at $1,120,000 after acquiring an additional 15,067 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Almost Family by 8.2% during the first quarter. PNC Financial Services Group Inc. now owns 11,725 shares of the company’s stock valued at $570,000 after acquiring an additional 890 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Almost Family by 38.2% during the first quarter. Principal Financial Group Inc. now owns 91,132 shares of the company’s stock valued at $4,429,000 after acquiring an additional 25,190 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Almost Family by 32.0% during the first quarter. Bank of New York Mellon Corp now owns 138,184 shares of the company’s stock valued at $6,716,000 after acquiring an additional 33,528 shares during the last quarter. Finally, Scout Investments Inc. acquired a new stake in shares of Almost Family during the second quarter valued at about $3,679,000. Institutional investors and hedge funds own 85.48% of the company’s stock.

Almost Family Company Profile

Almost Family, Inc is a provider of home healthcare services. The Company has two divisions: Home Health and Healthcare Innovations (HCI). The Home Health division consists of two segments: Visiting Nurse Services (VN or Visiting Nurse) and Personal Care Services (PC or Personal Care). The VN segment provides a range of Medicare-certified home health nursing services to patients in need of recuperative care, following a period of hospitalization or care in another type of inpatient facility.

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