Zacks Investment Research Downgrades AAC Holdings, Inc. (AAC) to Sell
AAC Holdings, Inc. (NYSE:AAC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research 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. “
Separately, Mizuho lowered their price objective on shares of AAC Holdings from $9.00 to $6.00 and set a “neutral” rating for the company in a report on Tuesday, May 30th.
Shares of AAC Holdings (NYSE:AAC) traded up 5.73% during trading on Monday, reaching $6.64. 141,112 shares of the company traded hands. AAC Holdings has a 12-month low of $5.99 and a 12-month high of $24.38. The firm’s 50-day moving average is $6.72 and its 200-day moving average is $7.64. The stock’s market capitalization is $159.83 million.
AAC Holdings (NYSE:AAC) last announced its earnings results on Thursday, May 4th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.07. AAC Holdings had a negative net margin of 0.62% and a positive return on equity of 9.40%. The business had revenue of $73.04 million during the quarter, compared to analyst estimates of $71.06 million. On average, equities analysts predict that AAC Holdings will post $0.52 earnings per share for the current fiscal year.
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A number of large investors have recently bought and sold shares of the stock. Deerfield Management Co. raised its stake in AAC Holdings by 28.8% in the first quarter. Deerfield Management Co. now owns 2,294,936 shares of the company’s stock worth $45,417,000 after buying an additional 512,842 shares in the last quarter. Cortina Asset Management LLC raised its stake in AAC Holdings by 28.8% in the first quarter. Cortina Asset Management LLC now owns 1,197,769 shares of the company’s stock worth $10,217,000 after buying an additional 267,860 shares in the last quarter. Stephens Investment Management Group LLC raised its stake in AAC Holdings by 7.7% in the first quarter. Stephens Investment Management Group LLC now owns 1,145,317 shares of the company’s stock worth $9,770,000 after buying an additional 81,492 shares in the last quarter. DF Dent & Co. Inc. raised its stake in AAC Holdings by 8.1% in the third quarter. DF Dent & Co. Inc. now owns 1,144,082 shares of the company’s stock worth $19,896,000 after buying an additional 85,384 shares in the last quarter. Finally, Altrinsic Global Advisors LLC raised its stake in AAC Holdings by 5.9% in the third quarter. Altrinsic Global Advisors LLC now owns 534,370 shares of the company’s stock worth $9,293,000 after buying an additional 30,000 shares in the last quarter. Institutional investors own 48.03% of the company’s stock.
About AAC Holdings
AAC Holdings, Inc is a provider of inpatient and outpatient substance abuse treatment services for individuals with drug and alcohol addiction. The Company performs drug testing and diagnostics laboratory services and provides physician services to its clients. As of June 30, 2016, the Company operated 12 residential substance abuse treatment facilities located throughout the United States, focused on delivering clinical care and treatment solutions across 1,139 beds, which includes 636 licensed detoxification beds, and 18 standalone outpatient centers.
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