William Blair Analysts Reduce Earnings Estimates for AAC Holdings, Inc. (AAC)
AAC Holdings, Inc. (NYSE:AAC) – Stock analysts at William Blair lowered their FY2018 EPS estimates for shares of AAC Holdings in a report issued on Wednesday. William Blair analyst R. Daniels now anticipates that the company will post earnings per share of $0.64 for the year, down from their previous estimate of $0.83.
AAC Holdings (NYSE:AAC) last announced its quarterly earnings results on Thursday, May 4th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.07. AAC Holdings had a positive return on equity of 9.40% and a negative net margin of 0.62%. The company had revenue of $73.04 million for the quarter, compared to the consensus estimate of $71.06 million.
Other analysts have also issued reports about the stock. Zacks Investment Research lowered shares of AAC Holdings from a “hold” rating to a “sell” rating in a research report on Monday. Mizuho reduced their price objective on shares of AAC Holdings from $9.00 to $6.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 30th.
Shares of AAC Holdings (NYSE AAC) traded down 3.76% on Monday, reaching $6.40. The company had a trading volume of 88,340 shares. AAC Holdings has a 52 week low of $5.99 and a 52 week high of $24.38. The firm’s market capitalization is $154.05 million. The stock’s 50 day moving average is $6.72 and its 200 day moving average is $7.64.
Institutional investors have recently modified their holdings of the company. Marshall Wace LLP raised its position in shares of AAC Holdings by 26.9% in the fourth quarter. Marshall Wace LLP now owns 35,133 shares of the company’s stock worth $254,000 after buying an additional 7,443 shares during the period. A.R.T. Advisors LLC bought a new position in shares of AAC Holdings during the fourth quarter worth approximately $112,000. Tudor Investment Corp Et Al bought a new position in shares of AAC Holdings during the fourth quarter worth approximately $160,000. Highbridge Capital Management LLC bought a new position in shares of AAC Holdings during the fourth quarter worth approximately $180,000. Finally, Nationwide Fund Advisors raised its position in shares of AAC Holdings by 168.0% in the first quarter. Nationwide Fund Advisors now owns 15,903 shares of the company’s stock worth $136,000 after buying an additional 9,968 shares during the period. 48.03% of the stock is currently owned by institutional investors and hedge funds.
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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