AAC Holdings Inc. (AAC) Upgraded 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 released 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. “
A number of other brokerages have also recently issued reports on AAC. Mizuho reiterated a “buy” rating and set a $26.00 target price (up previously from $24.00) on shares of AAC Holdings in a research report on Monday, July 18th. Citigroup Inc. upgraded shares of AAC Holdings from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $27.00 to $29.00 in a research report on Monday, August 15th. They noted that the move was a valuation call. Finally, Raymond James Financial Inc. upgraded shares of AAC Holdings from an “outperform” rating to a “strong-buy” rating and set a $29.00 target price for the company in a research report on Monday, August 15th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $27.50.
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AAC Holdings (NYSE:AAC) traded down 1.11% during midday trading on Monday, reaching $16.92. The company’s stock had a trading volume of 119,386 shares. The company’s 50-day moving average is $17.95 and its 200 day moving average is $19.83. AAC Holdings has a 52 week low of $14.36 and a 52 week high of $28.72. The firm has a market capitalization of $401.02 million, a P/E ratio of 92.97 and a beta of 2.71.
AAC Holdings (NYSE:AAC) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by $0.05. The business had revenue of $71.50 million for the quarter, compared to the consensus estimate of $67.42 million. AAC Holdings had a return on equity of 12.40% and a net margin of 1.73%. AAC Holdings’s revenue was up 32.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.26 earnings per share. Analysts expect that AAC Holdings will post $0.86 earnings per share for the current fiscal year.
In other AAC Holdings news, Chairman Michael T. Cartwright sold 24,576 shares of the firm’s stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $23.26, for a total value of $571,637.76. Following the completion of the sale, the chairman now owns 3,080,490 shares in the company, valued at approximately $71,652,197.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael T. Cartwright sold 24,624 shares of the firm’s stock in a transaction dated Tuesday, July 19th. The shares were sold at an average price of $23.06, for a total transaction of $567,829.44. Following the completion of the sale, the chief executive officer now owns 3,109,911 shares of the company’s stock, valued at approximately $71,714,547.66. The disclosure for this sale can be found here. 37.30% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the stock. BlackRock Advisors LLC boosted its stake in 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 last quarter. American International Group Inc. boosted its stake in 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 last quarter. Nationwide Fund Advisors boosted its stake in 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 last quarter. Metropolitan Life Insurance Co. NY bought a new stake in AAC Holdings during the first quarter valued at $138,000. Finally, Rhumbline Advisers bought a new stake in AAC Holdings during the second quarter valued at $210,000. Hedge funds and other institutional investors own 51.42% of the company’s stock.
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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