AAC (AAC) Upgraded by Zacks Investment Research to Hold
AAC (NYSE:AAC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
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. “
Other equities research analysts have also issued research reports about the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $14.00 price target (up previously from $11.00) on shares of AAC in a research report on Wednesday, September 13th. UBS Group raised AAC from a “market perform” rating to an “outperform” rating in a research report on Friday, November 3rd. Finally, Raymond James Financial raised AAC from a “mkt perform” rating to an “outperform” rating in a research report on Friday, November 3rd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $10.00.
Shares of AAC (NYSE:AAC) traded up $0.14 during trading on Wednesday, reaching $9.05. The company had a trading volume of 83,400 shares, compared to its average volume of 117,767. AAC has a 12 month low of $5.99 and a 12 month high of $13.06. The stock has a market cap of $215.51, a PE ratio of -150.83 and a beta of 1.95. The company has a quick ratio of 3.28, a current ratio of 3.28 and a debt-to-equity ratio of 1.42.
AAC (NYSE:AAC) last announced its earnings results on Wednesday, November 1st. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.07. AAC had a positive return on equity of 9.64% and a negative net margin of 0.42%. The company had revenue of $80.42 million during the quarter, compared to analysts’ expectations of $74.49 million. During the same period last year, the business posted $0.19 EPS. AAC’s revenue for the quarter was up 14.0% on a year-over-year basis. equities research analysts anticipate that AAC will post 0.54 EPS for the current year.
In other AAC news, Chairman Michael T. Cartwright sold 250,000 shares of the stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $9.63, for a total value of $2,407,500.00. Following the sale, the chairman now owns 2,880,490 shares of the company’s stock, valued at approximately $27,739,118.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director W Larry Cash purchased 12,000 shares of AAC stock in a transaction on Wednesday, November 15th. The stock was bought at an average cost of $9.93 per share, for a total transaction of $119,160.00. Following the transaction, the director now directly owns 15,000 shares in the company, valued at $148,950. The disclosure for this purchase can be found here. 33.99% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the business. California State Teachers Retirement System raised its position in shares of AAC by 1.5% during the 2nd quarter. California State Teachers Retirement System now owns 20,291 shares of the company’s stock worth $141,000 after acquiring an additional 300 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of AAC by 3.8% during the 2nd quarter. Alliancebernstein L.P. now owns 20,600 shares of the company’s stock worth $143,000 after acquiring an additional 760 shares in the last quarter. Rhumbline Advisers raised its position in shares of AAC by 38.5% during the 2nd quarter. Rhumbline Advisers now owns 21,719 shares of the company’s stock worth $151,000 after acquiring an additional 6,040 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of AAC during the 3rd quarter worth about $190,000. Finally, Nationwide Fund Advisors raised its position in shares of AAC by 116.4% during the 2nd quarter. Nationwide Fund Advisors now owns 34,414 shares of the company’s stock worth $238,000 after acquiring an additional 18,511 shares in the last quarter. 42.57% of the stock is currently owned by institutional investors.
AAC 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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