Acadia Healthcare (NASDAQ:ACHC) Price Target Cut to $90.00 by Analysts at Bank of America

Acadia Healthcare (NASDAQ:ACHC) had its price target cut by analysts at Bank of America from $105.00 to $90.00 in a report released on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price objective would suggest a potential upside of 33.99% from the stock’s previous close.

Several other equities analysts have also commented on ACHC. UBS Group increased their target price on Acadia Healthcare from $88.00 to $102.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Royal Bank of Canada restated an “outperform” rating and set a $94.00 target price on shares of Acadia Healthcare in a research note on Monday, March 4th. Barclays dropped their price target on shares of Acadia Healthcare from $100.00 to $91.00 and set an “overweight” rating on the stock in a research note on Thursday. TheStreet upgraded shares of Acadia Healthcare from a “c” rating to a “b-” rating in a research report on Monday, March 4th. Finally, Stephens raised shares of Acadia Healthcare from an “equal weight” rating to an “overweight” rating and set a $92.00 target price on the stock in a research report on Friday, January 5th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.90.

Acadia Healthcare Stock Down 8.0 %

NASDAQ ACHC traded down $5.82 during trading hours on Thursday, hitting $67.17. 1,264,185 shares of the company were exchanged, compared to its average volume of 578,222. The company has a 50 day moving average of $77.49 and a two-hundred day moving average of $77.68. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.48. The firm has a market cap of $6.21 billion, a price-to-earnings ratio of -269.63, a PEG ratio of 2.18 and a beta of 1.31. Acadia Healthcare has a 52-week low of $66.49 and a 52-week high of $87.77.

Acadia Healthcare (NASDAQ:ACHC) last issued its earnings results on Wednesday, May 1st. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.04. Acadia Healthcare had a negative net margin of 0.74% and a positive return on equity of 11.21%. The firm had revenue of $768.10 million for the quarter, compared to analysts’ expectations of $779.20 million. During the same quarter last year, the company earned $0.75 earnings per share. The firm’s revenue was up 9.1% compared to the same quarter last year. Equities research analysts anticipate that Acadia Healthcare will post 3.57 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Wade D. Miquelon sold 2,203 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $85.39, for a total transaction of $188,114.17. Following the completion of the sale, the director now owns 46,074 shares in the company, valued at $3,934,258.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is currently owned by insiders.

Institutional Trading of Acadia Healthcare

Hedge funds have recently added to or reduced their stakes in the stock. Avidity Partners Management LP raised its stake in shares of Acadia Healthcare by 61.8% during the fourth quarter. Avidity Partners Management LP now owns 1,156,692 shares of the company’s stock worth $89,944,000 after purchasing an additional 441,692 shares during the last quarter. Sea Cliff Partners Management LP acquired a new stake in shares of Acadia Healthcare in the 4th quarter worth $26,338,000. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Acadia Healthcare in the fourth quarter valued at about $24,157,000. OFI Invest Asset Management increased its stake in shares of Acadia Healthcare by 290.5% during the third quarter. OFI Invest Asset Management now owns 331,129 shares of the company’s stock worth $21,990,000 after acquiring an additional 246,322 shares during the period. Finally, Jennison Associates LLC lifted its position in Acadia Healthcare by 26.1% in the fourth quarter. Jennison Associates LLC now owns 1,148,755 shares of the company’s stock valued at $89,327,000 after purchasing an additional 238,114 shares during the period.

About Acadia Healthcare

Acadia Healthcare Company, Inc provides behavioral healthcare services in the United States and Puerto Rico. The company develops and operates acute inpatient psychiatric facilities, specialty treatment facilities comprising residential recovery facilities and eating disorder facilities, comprehensive treatment centers, and residential treatment centers, as well as facilities offering outpatient behavioral healthcare services for the behavioral healthcare and recovery needs of communities.