Almost Family (NASDAQ:AFAM) Downgraded by Zacks Investment Research

Almost Family (NASDAQ:AFAM) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued on Tuesday, January 9th.

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 research firms have also weighed in on AFAM. Jefferies Group reiterated a “buy” rating and issued a $58.00 target price on shares of Almost Family in a research note on Friday, November 3rd. Royal Bank of Canada lowered Almost Family from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from $54.00 to $62.00 in a research note on Monday, November 20th. SunTrust Banks set a $73.00 target price on Almost Family and gave the stock a “hold” rating in a research note on Friday, November 17th. ValuEngine upgraded Almost Family from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. Finally, Robert W. Baird restated a “hold” rating and set a $55.00 price target on shares of Almost Family in a research note on Tuesday, September 19th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $62.33.

Almost Family (AFAM) traded down $1.10 during midday trading on Tuesday, hitting $55.90. The stock had a trading volume of 208,097 shares, compared to its average volume of 180,048. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.27. The company has a market cap of $796.87 and a P/E ratio of 47.29. Almost Family has a 52-week low of $40.15 and a 52-week high of $66.15.

Almost Family (NASDAQ:AFAM) last posted its earnings results on Tuesday, November 7th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. Almost Family had a return on equity of 6.12% and a net margin of 2.02%. The firm had revenue of $194.30 million during the quarter, compared to the consensus estimate of $199.93 million. During the same period in the prior year, the company earned $0.66 EPS. The company’s quarterly revenue was up 21.1% compared to the same quarter last year. equities analysts expect that Almost Family will post 2.12 EPS for the current fiscal year.

In related news, Director Jonathan Goldberg sold 10,000 shares of the firm’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $60.08, for a total transaction of $600,800.00. Following the sale, the director now owns 44,803 shares of the company’s stock, valued at $2,691,764.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 13.10% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of AFAM. Chartwell Investment Partners LLC boosted its holdings in Almost Family by 1,151.8% in the third quarter. Chartwell Investment Partners LLC now owns 271,001 shares of the company’s stock worth $14,552,000 after acquiring an additional 249,352 shares in the last quarter. Chicago Capital Management LLC acquired a new stake in Almost Family in the fourth quarter worth about $11,325,000. Summit Creek Advisors LLC purchased a new position in shares of Almost Family in the third quarter worth about $7,810,000. Capital Research Global Investors raised its stake in shares of Almost Family by 46.0% in the second quarter. Capital Research Global Investors now owns 457,000 shares of the company’s stock worth $28,174,000 after purchasing an additional 144,000 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of Almost Family in the third quarter worth about $7,570,000. 85.18% of the stock is owned by institutional investors and hedge funds.

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About Almost Family

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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