AAC Holdings Inc. (AAC) Downgraded by Zacks Investment Research to Strong Sell
AAC Holdings Inc. (NYSE:AAC) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued 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. “
Several other research analysts have also recently weighed in on AAC. Mizuho reaffirmed a “buy” rating and set a $24.00 target price on shares of AAC Holdings in a research note on Thursday, June 16th. Citigroup Inc. raised AAC Holdings from an “outperform” rating to a “strong-buy” rating and raised their target price for the company from $27.00 to $29.00 in a research note on Monday, August 15th. They noted that the move was a valuation call. Finally, Raymond James Financial Inc. raised AAC Holdings from an “outperform” rating to a “strong-buy” rating and set a $29.00 target price for the company in a research note on Monday, August 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $27.50.
AAC Holdings (NYSE:AAC) traded down 0.63% on Wednesday, hitting $17.24. 155,582 shares of the stock were exchanged. The company’s 50-day moving average is $18.16 and its 200-day moving average is $19.94. AAC Holdings has a 52 week low of $14.36 and a 52 week high of $28.72. The company has a market cap of $408.61 million, a PE ratio of 94.73 and a beta of 2.70.
AAC Holdings (NYSE:AAC) last announced its earnings results on Thursday, August 4th. The company reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by $0.05. AAC Holdings had a net margin of 1.73% and a return on equity of 12.40%. The firm had revenue of $71.50 million for the quarter, compared to the consensus estimate of $67.42 million. During the same period in the prior year, the business earned $0.26 EPS. The company’s quarterly revenue was up 32.9% compared to the same quarter last year. On average, analysts predict that AAC Holdings will post $0.86 earnings per share for the current year.
In other AAC Holdings news, Director Darrell S. Freeman acquired 2,500 shares of AAC Holdings stock in a transaction that occurred on Friday, August 12th. The stock was purchased at an average cost of $17.45 per share, with a total value of $43,625.00. Following the purchase, the director now owns 113,660 shares in the company, valued at $1,983,367. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael T. Cartwright sold 24,624 shares of the stock in a transaction dated Tuesday, July 19th. The stock was sold at an average price of $23.06, for a total value of $567,829.44. Following the completion of the sale, the chief executive officer now directly owns 3,109,911 shares of the company’s stock, valued at $71,714,547.66. The disclosure for this sale can be found here. 37.30% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in AAC. Deerfield Management Co. increased its stake in shares of AAC Holdings by 28.8% in the first quarter. Deerfield Management Co. now owns 2,294,936 shares of the company’s stock valued at $45,417,000 after buying an additional 512,842 shares in the last quarter. Stephens Investment Management Group LLC increased its stake in shares of AAC Holdings by 19.9% in the second quarter. Stephens Investment Management Group LLC now owns 847,985 shares of the company’s stock valued at $19,351,000 after buying an additional 141,000 shares in the last quarter. Emerald Acquisition Ltd. acquired a new stake in shares of AAC Holdings during the second quarter valued at about $2,842,000. EverPoint Asset Management LLC increased its stake in shares of AAC Holdings by 122.2% in the second quarter. EverPoint Asset Management LLC now owns 200,000 shares of the company’s stock valued at $4,564,000 after buying an additional 110,000 shares in the last quarter. Finally, Rudman Errol M acquired a new stake in shares of AAC Holdings during the first quarter valued at about $1,319,000. 51.39% of the stock is owned by hedge funds and other institutional investors.
About AAC Holdings
AAC Holdings, Inc is a provider of inpatient substance abuse treatment services for individuals with drug and alcohol addiction. The Company operates through substance abuse/behavioral healthcare treatment services segment. The Company operates approximately nine residential substance abuse treatment facilities located throughout the United States, focused on delivering clinical care and treatment solutions across approximately 900 beds, which includes approximately 480 licensed detoxification beds.
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