Bank of America Trims Enhabit (NYSE:EHAB) Target Price to $8.00

Enhabit (NYSE:EHAB) had its price objective cut by Bank of America from $9.00 to $8.00 in a report published on Thursday morning, Benzinga reports. They currently have an underperform rating on the stock.

EHAB has been the topic of several other research reports. Leerink Partnrs upgraded Enhabit from a strong sell rating to a hold rating in a research note on Tuesday, May 14th. UBS Group raised Enhabit from a sell rating to a neutral rating and set a $9.50 price objective for the company in a report on Thursday, March 7th. Jefferies Financial Group lowered Enhabit from a buy rating to a hold rating and lowered their price objective for the company from $14.00 to $8.75 in a report on Thursday, May 9th. Oppenheimer reissued a market perform rating on shares of Enhabit in a report on Thursday, March 7th. Finally, SVB Leerink raised Enhabit from an underperform rating to a market perform rating and set a $8.50 price objective for the company in a report on Tuesday, May 14th. One analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $9.79.

Enhabit Trading Up 4.1 %

NYSE:EHAB opened at $8.92 on Thursday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.50 and a current ratio of 1.50. Enhabit has a one year low of $7.12 and a one year high of $14.59. The business’s 50-day simple moving average is $9.19 and its 200 day simple moving average is $9.87. The stock has a market cap of $447.43 million, a price-to-earnings ratio of -5.37, a price-to-earnings-growth ratio of 1.43 and a beta of 1.88.

Enhabit (NYSE:EHAB) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.05 by $0.02. Enhabit had a positive return on equity of 1.43% and a negative net margin of 7.95%. The business had revenue of $262.40 million for the quarter, compared to analysts’ expectations of $268.25 million. As a group, sell-side analysts predict that Enhabit will post 0.24 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Jeffrey Bolton bought 10,000 shares of the stock in a transaction dated Friday, May 17th. The stock was bought at an average cost of $8.33 per share, with a total value of $83,300.00. Following the completion of the acquisition, the director now owns 52,299 shares of the company’s stock, valued at $435,650.67. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders purchased 22,000 shares of company stock valued at $183,700. 1.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Enhabit

Several institutional investors have recently made changes to their positions in EHAB. Charles Schwab Investment Management Inc. grew its holdings in shares of Enhabit by 26.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 772,840 shares of the company’s stock valued at $8,694,000 after purchasing an additional 160,776 shares during the last quarter. HighTower Advisors LLC bought a new position in Enhabit in the 3rd quarter worth approximately $310,000. Rhumbline Advisers grew its holdings in Enhabit by 2.3% in the 3rd quarter. Rhumbline Advisers now owns 162,845 shares of the company’s stock worth $1,832,000 after buying an additional 3,631 shares in the last quarter. Scopia Capital Management LP grew its holdings in Enhabit by 9.3% in the 3rd quarter. Scopia Capital Management LP now owns 2,091,315 shares of the company’s stock worth $23,527,000 after buying an additional 177,400 shares in the last quarter. Finally, Schroder Investment Management Group grew its holdings in Enhabit by 0.8% in the 3rd quarter. Schroder Investment Management Group now owns 1,685,885 shares of the company’s stock worth $18,966,000 after buying an additional 13,387 shares in the last quarter.

Enhabit Company Profile

Enhabit, Inc provides home health and hospice services in the United States. Its home health services include patient education, pain management, wound care and dressing changes, cardiac rehabilitation, infusion therapy, pharmaceutical administration, and skilled observation and assessment services; practices to treat chronic diseases and conditions, including diabetes, hypertension, arthritis, Alzheimer's disease, low vision, spinal stenosis, Parkinson's disease, osteoporosis, complex wound care and chronic pain, along with disease-specific plans for patients with diabetes, congestive heart failure, post-orthopedic surgery, or injury and respiratory diseases; and physical, occupational and speech therapists provide therapy services.