AAC Holdings Inc. (AAC) Lifted to “Hold” at Zacks Investment Research
AAC Holdings Inc. (NYSE:AAC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Monday.
According to Zacks, “AAC Holdings, Inc. is a provider of inpatient substance abuse treatment services for individuals with drug and alcohol addiction. It provides detoxification, residential treatment, partial hospitalization, and intensive outpatient care services. AAC Holdings, Inc. is headquartered in Brentwood, Tennessee. “
Several other equities analysts have also recently weighed in on AAC. Mizuho reiterated a “buy” rating and issued a $26.00 price target (up from $24.00) on shares of AAC Holdings in a research report on Monday, July 18th. Raymond James Financial Inc. upgraded AAC Holdings from an “outperform” rating to a “strong-buy” rating and set a $29.00 price target for the company in a research report on Monday, August 15th. Finally, Citigroup Inc. upgraded AAC Holdings from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company from $27.00 to $29.00 in a research report on Monday, August 15th. They noted that the move was a valuation call. Two analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $27.50.
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Shares of AAC Holdings (NYSE:AAC) traded down 1.11% during mid-day trading on Monday, hitting $16.92. The company had a trading volume of 119,261 shares. The company has a market capitalization of $401.02 million, a PE ratio of 92.97 and a beta of 2.71. The company’s 50-day moving average is $17.95 and its 200 day moving average is $19.83. AAC Holdings has a one year low of $14.36 and a one year high of $28.72.
AAC Holdings (NYSE:AAC) last released its earnings results on Thursday, August 4th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by $0.05. AAC Holdings had a return on equity of 12.40% and a net margin of 1.73%. The firm earned $71.50 million during the quarter, compared to analysts’ expectations of $67.42 million. During the same period in the prior year, the business earned $0.26 earnings per share. The business’s quarterly revenue was up 32.9% compared to the same quarter last year. On average, equities research analysts forecast that AAC Holdings will post $0.86 EPS for the current fiscal year.
In other news, Director Darrell S. Freeman purchased 2,500 shares of the company’s stock in a transaction on Friday, August 12th. The stock was purchased at an average price of $17.45 per share, with a total value of $43,625.00. Following the completion of the purchase, the director now directly owns 113,660 shares in the company, valued at approximately $1,983,367. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Michael T. Cartwright sold 24,576 shares of AAC Holdings stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $23.26, for a total value of $571,637.76. Following the sale, the chairman now directly owns 3,080,490 shares of the company’s stock, valued at approximately $71,652,197.40. The disclosure for this sale can be found here. Corporate insiders own 37.30% of the company’s stock.
A number of large investors have recently modified their holdings of the company. BlackRock Advisors LLC raised its stake in shares of AAC Holdings by 14.7% in the second quarter. BlackRock Advisors LLC now owns 4,500 shares of the company’s stock valued at $103,000 after buying an additional 577 shares during the period. American International Group Inc. raised its stake in shares of AAC Holdings by 10.6% in the second quarter. American International Group Inc. now owns 5,708 shares of the company’s stock valued at $130,000 after buying an additional 546 shares during the period. Nationwide Fund Advisors raised its stake in shares of AAC Holdings by 15.2% in the second quarter. Nationwide Fund Advisors now owns 5,935 shares of the company’s stock valued at $135,000 after buying an additional 784 shares during the period. Metropolitan Life Insurance Co. NY purchased a new stake in shares of AAC Holdings during the first quarter valued at about $138,000. Finally, Rhumbline Advisers purchased a new stake in shares of AAC Holdings during the second quarter valued at about $210,000. 51.42% of the stock is owned by hedge funds and other institutional investors.
AAC Holdings Company Profile
AAC Holdings, Inc is a provider of inpatient substance abuse treatment services for individuals with drug and alcohol addiction. The Company operates through substance abuse/behavioral healthcare treatment services segment. The Company operates approximately nine residential substance abuse treatment facilities located throughout the United States, focused on delivering clinical care and treatment solutions across approximately 900 beds, which includes approximately 480 licensed detoxification beds.
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