Acadia Healthcare Co. (ACHC) Sets New 52-Week Low Following Analyst Downgrade
Acadia Healthcare Co. (NASDAQ:ACHC)’s share price reached a new 52-week low during mid-day trading on Wednesday after Royal Bank Of Canada lowered their price target on the stock from $78.00 to $59.00. Royal Bank Of Canada currently has an outperform rating on the stock. Acadia Healthcare traded as low as $37.96 and last traded at $40.91, with a volume of 6,086,043 shares. The stock had previously closed at $45.19.
Several other equities analysts have also issued reports on the company. Leerink Swann reissued a “buy” rating and set a $80.00 target price on shares of Acadia Healthcare in a research note on Sunday, August 28th. Jefferies Group reissued a “buy” rating and set a $85.00 target price on shares of Acadia Healthcare in a research note on Monday, June 27th. RBC Capital Markets reissued an “outperform” rating and set a $78.00 target price (down previously from $86.00) on shares of Acadia Healthcare in a research note on Monday, August 1st. Robert W. Baird decreased their target price on Acadia Healthcare from $67.00 to $66.00 and set an “outperform” rating on the stock in a research note on Thursday, September 15th. Finally, Zacks Investment Research raised Acadia Healthcare from a “sell” rating to a “hold” rating in a research note on Monday, October 3rd. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $75.86.
In related news, Director Reeve B. Waud sold 1,360,977 shares of the firm’s stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $48.52, for a total transaction of $66,034,604.04. Following the transaction, the director now owns 55,673 shares in the company, valued at approximately $2,701,253.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Waud Capital Partners Iii, L.L sold 457,443 shares of the firm’s stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $48.39, for a total value of $22,135,666.77. The disclosure for this sale can be found here. Corporate insiders own 17.20% of the company’s stock.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nuveen Asset Management LLC increased its position in Acadia Healthcare by 3,850.4% in the first quarter. Nuveen Asset Management LLC now owns 195,978 shares of the company’s stock worth $10,800,000 after buying an additional 191,017 shares in the last quarter. Renaissance Technologies LLC increased its position in Acadia Healthcare by 25.8% in the first quarter. Renaissance Technologies LLC now owns 280,600 shares of the company’s stock worth $15,464,000 after buying an additional 57,500 shares in the last quarter. Granahan Investment Management Inc. MA increased its position in Acadia Healthcare by 52.3% in the first quarter. Granahan Investment Management Inc. MA now owns 257,400 shares of the company’s stock worth $14,185,000 after buying an additional 88,400 shares in the last quarter. Wellington Management Group LLP increased its position in Acadia Healthcare by 97.2% in the first quarter. Wellington Management Group LLP now owns 6,983,799 shares of the company’s stock worth $384,877,000 after buying an additional 3,441,579 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Acadia Healthcare by 41.5% in the first quarter. Geode Capital Management LLC now owns 473,045 shares of the company’s stock worth $26,069,000 after buying an additional 138,635 shares in the last quarter.
The stock has a market cap of $3.58 billion, a PE ratio of 21.85 and a beta of 0.86. The stock has a 50-day moving average price of $49.05 and a 200-day moving average price of $54.52.
Acadia Healthcare (NASDAQ:ACHC) last issued its earnings results on Friday, July 29th. The company reported $0.73 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.73. Acadia Healthcare had a return on equity of 9.35% and a net margin of 6.44%. The company earned $756.50 million during the quarter, compared to the consensus estimate of $752.57 million. During the same quarter in the prior year, the business earned $0.57 earnings per share. The company’s revenue was up 66.8% compared to the same quarter last year. Analysts expect that Acadia Healthcare Co. will post $2.63 earnings per share for the current fiscal year.
Acadia Healthcare Company Profile
Acadia Healthcare Company, Inc is a provider of behavioral healthcare services. The Company operates in two segments: U.S. Facilities and U.K. Facilities. The Company develops and operates inpatient psychiatric facilities, residential treatment centers, group homes, substance abuse facilities and facilities providing outpatient behavioral healthcare services to serve the behavioral health and recovery needs of communities throughout the United States, the United Kingdom and Puerto Rico.
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