AAC’s (AAC) “Buy” Rating Reaffirmed at Cantor Fitzgerald
AAC (NYSE:AAC)‘s stock had its “buy” rating reaffirmed by research analysts at Cantor Fitzgerald in a research note issued to investors on Friday. They presently have a $14.00 price objective on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 50.21% from the stock’s current price.
The analysts wrote, “Yesterday, AAC announced that it had entered into a settlement term sheet for $25 million related to a previously disclosed securities class action lawsuit. The company also reached an agreement-in-principle for a derivative action.””
Other equities research analysts have also recently issued reports about the stock. UBS Group upgraded shares of AAC from a “market perform” rating to an “outperform” rating in a report on Friday, November 3rd. Zacks Investment Research cut shares of AAC from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Finally, Raymond James Financial raised shares of AAC from a “mkt perform” rating to an “outperform” rating in a research note on Friday, November 3rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. AAC has a consensus rating of “Hold” and a consensus price target of $10.00.
AAC (NYSE:AAC) last announced its earnings results on Wednesday, November 1st. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.07. AAC had a negative net margin of 0.42% and a positive return on equity of 9.64%. The company had revenue of $80.42 million for the quarter, compared to the consensus estimate of $74.49 million. During the same period in the previous year, the business earned $0.19 EPS. The company’s revenue was up 14.0% on a year-over-year basis. sell-side analysts predict that AAC will post 0.54 earnings per share for the current year.
In other AAC news, Director W Larry Cash acquired 10,000 shares of AAC stock in a transaction on Thursday, November 30th. The shares were purchased at an average cost of $9.07 per share, with a total value of $90,700.00. Following the completion of the purchase, the director now owns 25,000 shares in the company, valued at $226,750. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Michael T. Cartwright sold 250,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $9.63, for a total transaction of $2,407,500.00. Following the completion of the transaction, the chairman now directly owns 2,880,490 shares in the company, valued at $27,739,118.70. The disclosure for this sale can be found here. 37.30% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. San Francisco Sentry Investment Group CA bought a new position in shares of AAC in the second quarter valued at $31,241,000. EAM Investors LLC bought a new stake in AAC during the third quarter valued at approximately $1,977,000. State Street Corp lifted its position in AAC by 7.4% during the second quarter. State Street Corp now owns 164,658 shares of the company’s stock valued at $1,139,000 after purchasing an additional 11,338 shares during the last quarter. Northern Trust Corp lifted its position in AAC by 4.6% during the second quarter. Northern Trust Corp now owns 128,741 shares of the company’s stock valued at $893,000 after purchasing an additional 5,709 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its position in AAC by 15.8% during the third quarter. Sterling Capital Management LLC now owns 120,869 shares of the company’s stock valued at $1,200,000 after purchasing an additional 16,484 shares during the last quarter. 42.57% of the stock is currently owned by institutional investors.
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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