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

Enhabit (NYSE:EHAB) had its target price reduced 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.

Other equities analysts also recently issued research reports about the company. Oppenheimer reiterated a market perform rating on shares of Enhabit in a research report on Thursday, March 7th. UBS Group upgraded Enhabit from a sell rating to a neutral rating and set a $9.50 target price on the stock in a research report on Thursday, March 7th. Jefferies Financial Group downgraded Enhabit from a buy rating to a hold rating and reduced their target price for the company from $14.00 to $8.75 in a research report on Thursday, May 9th. SVB Leerink upgraded Enhabit from an underperform rating to a market perform rating and set a $8.50 target price on the stock in a research report on Tuesday, May 14th. Finally, Leerink Partnrs upgraded Enhabit from a strong sell rating to a hold rating in a research report on Tuesday, May 14th. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to data from MarketBeat, Enhabit has an average rating of Hold and an average target price of $9.79.

Enhabit Stock Performance

Shares of NYSE:EHAB opened at $8.92 on Thursday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.50 and a quick ratio of 1.50. The business’s 50 day moving average price is $9.19 and its 200-day moving average price is $9.87. The firm has a market capitalization of $447.43 million, a PE ratio of -5.37, a P/E/G ratio of 1.43 and a beta of 1.88. Enhabit has a 1 year low of $7.12 and a 1 year high of $14.59.

Enhabit (NYSE:EHAB) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $262.40 million for the quarter, compared to the consensus estimate of $268.25 million. As a group, equities research analysts expect that Enhabit will post 0.24 earnings per share for the current fiscal year.

Insider Activity at Enhabit

In other news, Director Jeffrey Bolton bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was purchased at an average cost of $8.24 per share, with a total value of $82,400.00. Following the transaction, the director now directly owns 42,299 shares in the company, valued at $348,543.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders bought a total of 22,000 shares of company stock valued at $183,700 in the last three months. 1.90% of the stock is currently owned by company insiders.

Institutional Trading of Enhabit

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

About Enhabit

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.