Enhabit (NYSE:EHAB) Trading 3% Higher – Time to Buy?

Enhabit, Inc. (NYSE:EHAB)’s stock price was up 3% during trading on Wednesday . The company traded as high as $8.82 and last traded at $8.76. Approximately 522,580 shares were traded during trading, an increase of 69% from the average daily volume of 309,106 shares. The stock had previously closed at $8.50.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. UBS Group decreased their target price on Enhabit from $10.00 to $8.50 and set a “neutral” rating for the company in a research report on Friday, August 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Enhabit in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Enhabit presently has a consensus rating of “Hold” and an average price target of $8.67.

Enhabit Stock Performance

The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.79. The stock has a market cap of $443.79 million, a PE ratio of -3.28 and a beta of 1.69. The business’s 50-day moving average price is $8.00 and its 200-day moving average price is $8.33.

Enhabit (NYSE:EHAB) last announced its earnings results on Wednesday, August 6th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.03. The company had revenue of $266.10 million during the quarter, compared to the consensus estimate of $263.39 million. Enhabit had a negative net margin of 12.84% and a positive return on equity of 2.72%. As a group, equities research analysts expect that Enhabit, Inc. will post 0.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Enhabit news, CFO Ryan Solomon purchased 10,000 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were acquired at an average price of $7.64 per share, for a total transaction of $76,400.00. Following the completion of the purchase, the chief financial officer owned 193,468 shares of the company’s stock, valued at approximately $1,478,095.52. The trade was a 5.45% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Enhabit

A number of large investors have recently made changes to their positions in EHAB. West Tower Group LLC grew its stake in Enhabit by 31.6% during the 3rd quarter. West Tower Group LLC now owns 375,142 shares of the company’s stock valued at $3,005,000 after purchasing an additional 90,000 shares during the last quarter. CWM LLC raised its holdings in Enhabit by 202.1% in the 3rd quarter. CWM LLC now owns 22,914 shares of the company’s stock worth $184,000 after purchasing an additional 15,330 shares during the period. Osaic Holdings Inc. raised its stake in shares of Enhabit by 337.5% during the 2nd quarter. Osaic Holdings Inc. now owns 2,616 shares of the company’s stock worth $25,000 after buying an additional 2,018 shares during the period. Orion Porfolio Solutions LLC raised its position in Enhabit by 5.8% during the second quarter. Orion Porfolio Solutions LLC now owns 142,655 shares of the company’s stock worth $1,375,000 after acquiring an additional 7,824 shares during the period. Finally, State of Wyoming raised its position in shares of Enhabit by 21.1% during the 2nd quarter. State of Wyoming now owns 57,775 shares of the company’s stock worth $557,000 after purchasing an additional 10,068 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.