Brokerages Anticipate AAC Holdings, Inc. (AAC) Will Post Quarterly Sales of $74.41 Million
Equities research analysts expect that AAC Holdings, Inc. (NYSE:AAC) will post sales of $74.41 million for the current quarter, Zacks reports. Two analysts have issued estimates for AAC Holdings’ earnings. The lowest sales estimate is $71.70 million and the highest is $77.12 million. AAC Holdings posted sales of $70.53 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 5.5%. The business is expected to announce its next earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that AAC Holdings will report full year sales of $74.41 million for the current financial year, with estimates ranging from $297.20 million to $302.83 million. For the next financial year, analysts forecast that the company will post sales of $311.40 million per share. Zacks’ sales calculations are a mean average based on a survey of research firms that follow AAC Holdings.
AAC Holdings (NYSE:AAC) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $0.26 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.12. AAC Holdings had a negative net margin of 1.55% and a positive return on equity of 10.70%. The business had revenue of $78.04 million during the quarter, compared to analysts’ expectations of $73.40 million. During the same quarter in the prior year, the company earned $0.18 EPS. The firm’s quarterly revenue was up 9.1% on a year-over-year basis.
Several research firms recently issued reports on AAC. Zacks Investment Research upgraded shares of AAC Holdings from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Cantor Fitzgerald restated a “buy” rating and issued a $14.00 target price on shares of AAC Holdings in a report on Wednesday, September 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $10.00.
Shares of AAC Holdings (AAC) opened at 8.20 on Thursday. The company has a 50 day moving average of $9.78 and a 200-day moving average of $7.93. The company’s market cap is $197.29 million. AAC Holdings has a 52-week low of $5.99 and a 52-week high of $19.98.
A number of institutional investors and hedge funds have recently bought and sold shares of AAC. Nationwide Fund Advisors increased its stake in AAC Holdings by 168.0% in the first quarter. Nationwide Fund Advisors now owns 15,903 shares of the company’s stock valued at $136,000 after purchasing an additional 9,968 shares in the last quarter. California State Teachers Retirement System increased its stake in AAC Holdings by 1.5% in the second quarter. California State Teachers Retirement System now owns 20,291 shares of the company’s stock valued at $141,000 after purchasing an additional 300 shares in the last quarter. Alliancebernstein L.P. increased its stake in AAC Holdings by 3.8% in the second quarter. Alliancebernstein L.P. now owns 20,600 shares of the company’s stock valued at $143,000 after purchasing an additional 760 shares in the last quarter. Citadel Advisors LLC bought a new stake in AAC Holdings in the first quarter valued at $145,000. Finally, Rhumbline Advisers increased its stake in AAC Holdings by 38.5% in the second quarter. Rhumbline Advisers now owns 21,719 shares of the company’s stock valued at $151,000 after purchasing an additional 6,040 shares in the last quarter. 64.03% of the stock is owned by hedge funds and other institutional investors.
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AAC Holdings Company Profile
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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