Chemed Corp. (CHE) Lifted to “Buy” at Zacks Investment Research

Chemed Corp. (NYSE:CHE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, November 2nd. The firm presently has a $251.00 target price on the stock. Zacks Investment Research‘s target price indicates a potential upside of 8.29% from the company’s current price.

According to Zacks, “Chemed exited the third quarter 2017 on a promising note with earnings and revenues ahead of the respective Zacks Consensus Estimate. The company’s both the subsidiaries saw year-over-year revenue growth. Also, the guidance raise backed by the company's expectations of significant gains from its Roto-Rooter business buoys optimism. This business has witnessed consistent growth banking on strong performance within core plumbing and drain cleaning service segments, as well as solid growth in water restoration. The expansion in gross and operating margin buoy optimism. Chemed has been observed to trade above the broader industry over the past three months. However, headwinds like reimbursement related issues, seasonality in business, a competitive landscape and dependence on government mandate pose challenges for Chemed. Moreover, over 90% of VITAS’ revenues consist of payments from the Medicare and Medicaid programs which further intensif”

A number of other equities analysts also recently commented on CHE. Royal Bank Of Canada reissued a “hold” rating and issued a $209.00 price objective on shares of Chemed Corp. in a research note on Tuesday, October 3rd. National Bank Financial raised shares of Chemed Corp. from a “sector perform market weight” rating to an “outperform market weight” rating in a report on Sunday, August 13th. TheStreet raised shares of Chemed Corp. from a “c+” rating to an “a-” rating in a report on Friday, October 27th. BidaskClub lowered shares of Chemed Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, KeyCorp initiated coverage on shares of Chemed Corp. in a report on Monday, August 28th. They issued a “sector weight” rating on the stock. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Chemed Corp. presently has an average rating of “Hold” and an average target price of $236.00.

Shares of Chemed Corp. (NYSE CHE) traded up $0.48 during trading hours on Thursday, hitting $231.79. The company’s stock had a trading volume of 127,100 shares, compared to its average volume of 93,894. Chemed Corp. has a fifty-two week low of $145.09 and a fifty-two week high of $235.96. The stock has a market capitalization of $3,693.09, a price-to-earnings ratio of 28.49, a PEG ratio of 4.89 and a beta of 1.14. The company has a quick ratio of 0.48, a current ratio of 0.50 and a debt-to-equity ratio of 0.15.

Chemed Corp. (NYSE:CHE) last announced its earnings results on Thursday, October 26th. The company reported $2.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.00 by $0.15. Chemed Corp. had a return on equity of 27.69% and a net margin of 4.62%. The business had revenue of $417.40 million during the quarter, compared to analyst estimates of $414.34 million. During the same quarter in the previous year, the business earned $1.73 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. analysts expect that Chemed Corp. will post 4.73 earnings per share for the current fiscal year.

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In other Chemed Corp. news, insider Spencer S. Lee sold 1,000 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $197.46, for a total value of $197,460.00. Following the completion of the transaction, the insider now owns 37,809 shares in the company, valued at $7,465,765.14. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Patrick P. Grace sold 500 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $201.48, for a total transaction of $100,740.00. Following the completion of the transaction, the director now owns 4,515 shares of the company’s stock, valued at approximately $909,682.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,650 shares of company stock worth $5,790,193. 4.90% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC acquired a new position in shares of Chemed Corp. during the 2nd quarter worth about $120,000. Pacad Investment Ltd. raised its holdings in Chemed Corp. by 250.0% in the 2nd quarter. Pacad Investment Ltd. now owns 700 shares of the company’s stock valued at $143,000 after acquiring an additional 500 shares during the last quarter. IFP Advisors Inc raised its holdings in Chemed Corp. by 1,504.5% in the 3rd quarter. IFP Advisors Inc now owns 706 shares of the company’s stock valued at $143,000 after acquiring an additional 662 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Chemed Corp. by 12.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 731 shares of the company’s stock valued at $150,000 after acquiring an additional 83 shares during the last quarter. Finally, MCF Advisors LLC acquired a new stake in Chemed Corp. in the 3rd quarter valued at about $152,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.

About Chemed Corp.

Chemed Corporation purchases, operates and divests subsidiaries engaged in various business activities. The Company operates through two segments: the VITAS segment (VITAS) and the Roto-Rooter segment (Roto-Rooter). The Company’s VITAS provides hospice and palliative care services to its patients through a network of physicians, registered nurses, home health aides, social workers, clergy and volunteers.

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