AAC Holdings Inc. (AAC) Rating Increased to Neutral at Mizuho
AAC Holdings Inc. (NYSE:AAC) was upgraded by Mizuho from an “underperform” rating to a “neutral” rating in a note issued to investors on Wednesday. The brokerage presently has a $9.00 price objective on the stock. Mizuho’s price target indicates a potential downside of 13.79% from the company’s previous close.
Several other brokerages also recently commented on AAC. Zacks Investment Research downgraded shares of AAC Holdings from a “hold” rating to a “sell” rating in a report on Monday, November 7th. Raymond James Financial Inc. downgraded shares of AAC Holdings from a “strong-buy” rating to a “market perform” rating in a report on Thursday, November 3rd. Finally, Citigroup Inc. upgraded shares of AAC Holdings from an “outperform” rating to a “strong-buy” rating and increased their target price for the company from $27.00 to $29.00 in a report on Monday, August 15th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $23.25.
Shares of AAC Holdings (NYSE:AAC) opened at 10.44 on Wednesday. The company’s market cap is $247.50 million. The firm has a 50-day moving average of $14.39 and a 200-day moving average of $18.70. AAC Holdings has a 12-month low of $6.01 and a 12-month high of $25.05.
AAC Holdings (NYSE:AAC) last released its quarterly earnings data on Thursday, November 3rd. The company reported $0.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by $0.04. AAC Holdings had a positive return on equity of 11.33% and a negative net margin of 0.23%. The business had revenue of $70.50 million for the quarter, compared to analyst estimates of $73.28 million. During the same quarter in the previous year, the company posted $0.24 EPS. The business’s quarterly revenue was up 22.8% on a year-over-year basis. Analysts predict that AAC Holdings will post $0.72 EPS for the current year.
A number of hedge funds have recently bought and sold shares of the company. Credit Suisse AG increased its stake in AAC Holdings by 95.4% in the third quarter. Credit Suisse AG now owns 21,863 shares of the company’s stock worth $380,000 after buying an additional 10,677 shares during the period. DF Dent & Co. Inc. increased its stake in AAC Holdings by 8.1% in the third quarter. DF Dent & Co. Inc. now owns 1,144,082 shares of the company’s stock worth $19,896,000 after buying an additional 85,384 shares during the period. Woodmont Investment Counsel LLC increased its stake in AAC Holdings by 27.1% in the third quarter. Woodmont Investment Counsel LLC now owns 63,010 shares of the company’s stock worth $1,096,000 after buying an additional 13,454 shares during the period. The Manufacturers Life Insurance Company bought a new stake in AAC Holdings during the third quarter worth about $130,000. Finally, Morgan Stanley increased its stake in AAC Holdings by 2,419.0% in the third quarter. Morgan Stanley now owns 48,214 shares of the company’s stock worth $838,000 after buying an additional 46,300 shares during the period. Institutional investors and hedge funds own 51.44% of the company’s stock.
About AAC Holdings
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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