AAC Holdings Inc. (AAC) Lifted to “Hold” at Zacks Investment Research
AAC Holdings Inc. (NYSE:AAC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Monday.
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. “
A number of other research firms have also weighed in on AAC. Mizuho reissued a “buy” rating and set a $26.00 target price (up from $24.00) on shares of AAC Holdings in a report on Monday, July 18th. Citigroup Inc. raised AAC Holdings from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $27.00 to $29.00 in a report 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 on the stock in a report on Monday, August 15th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $27.50.
Shares of AAC Holdings (NYSE:AAC) traded down 1.11% on Monday, hitting $16.92. The company’s stock had a trading volume of 119,261 shares. AAC Holdings has a 52 week low of $14.36 and a 52 week high of $28.72. The firm has a market cap of $401.02 million, a price-to-earnings ratio of 92.97 and a beta of 2.71. The stock’s 50-day moving average price is $17.95 and its 200-day moving average price is $19.83.
AAC Holdings (NYSE:AAC) last posted its earnings results on Thursday, August 4th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by $0.05. The business had revenue of $71.50 million for the quarter, compared to analyst estimates of $67.42 million. AAC Holdings had a return on equity of 12.40% and a net margin of 1.73%. The firm’s revenue was up 32.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.26 earnings per share. Equities analysts expect that AAC Holdings will post $0.86 earnings per share for the current fiscal year.
In other news, CEO Michael T. Cartwright sold 24,624 shares of the company’s stock in a transaction on Tuesday, July 19th. The stock was sold at an average price of $23.06, for a total transaction of $567,829.44. Following the completion of the sale, the chief executive officer now directly owns 3,109,911 shares in the company, valued at approximately $71,714,547.66. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Michael T. Cartwright sold 24,576 shares of the company’s stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $23.26, for a total value of $571,637.76. Following the sale, the chairman now owns 3,080,490 shares of the company’s stock, valued at $71,652,197.40. The disclosure for this sale can be found here. 37.30% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Cortina Asset Management LLC increased its stake in AAC Holdings by 0.9% in the second quarter. Cortina Asset Management LLC now owns 1,022,539 shares of the company’s stock worth $23,334,000 after buying an additional 9,510 shares during the last quarter. 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. Deimos Asset Management LLC acquired a new stake in shares of AAC Holdings during the second quarter valued at $427,000. Emerald Acquisition Ltd. acquired a new stake in shares of AAC Holdings during the second quarter valued at $2,842,000. Finally, Rudman Errol M acquired a new stake in shares of AAC Holdings during the first quarter valued at $1,319,000. Hedge funds and other institutional investors own 51.42% of the company’s stock.
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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