AAC Holdings, Inc. (AAC) Receives “Overweight” Rating from Cantor Fitzgerald
Cantor Fitzgerald reissued their overweight rating on shares of AAC Holdings, Inc. (NYSE:AAC) in a research note issued to investors on Wednesday morning, Marketbeat Ratings reports. The brokerage currently has a $14.00 target price on the stock, up from their previous target price of $11.00.
“Significant acquisition. AAC is acquiring AdCare, Inc., a leading addiction treatment provider in New England that has more than 6,000 hospital and residential admissions and over 115,000 outpatient visits per year. The company’s facilities include a 114-bed substance abuse hospital and five outpatient centers in Massachusetts and a 52-bed residential treatment center and two outpatient centers in Rhode Island.”,” Cantor Fitzgerald’s analyst commented.
AAC has been the topic of several other reports. Mizuho cut their target price on AAC Holdings from $9.00 to $6.00 and set a neutral rating on the stock in a report on Tuesday, May 30th. Zacks Investment Research downgraded AAC Holdings from a hold rating to a sell rating in a report on Monday, July 10th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $10.00.
AAC Holdings (AAC) opened at 11.40 on Wednesday. The firm’s market cap is $274.28 million. The firm has a 50-day moving average price of $9.05 and a 200 day moving average price of $7.80. AAC Holdings has a 1-year low of $5.99 and a 1-year high of $19.98.
AAC Holdings (NYSE:AAC) last announced its earnings results on Wednesday, August 2nd. The company reported $0.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.12. The firm had revenue of $78.04 million for the quarter, compared to the consensus estimate of $73.40 million. AAC Holdings had a positive return on equity of 10.70% and a negative net margin of 1.55%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.18 EPS. Equities analysts predict that AAC Holdings will post $0.54 earnings per share for the current year.
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Institutional investors and hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. acquired a new position in AAC Holdings during the 1st quarter worth about $216,000. Stephens Investment Management Group LLC lifted its holdings in AAC Holdings by 7.7% during the 1st quarter. Stephens Investment Management Group LLC now owns 1,145,317 shares of the company’s stock worth $9,770,000 after buying an additional 81,492 shares during the period. Cortina Asset Management LLC lifted its holdings in AAC Holdings by 28.8% during the 1st quarter. Cortina Asset Management LLC now owns 1,197,769 shares of the company’s stock worth $10,217,000 after buying an additional 267,860 shares during the period. Nationwide Fund Advisors lifted its holdings in AAC Holdings by 168.0% during the 1st 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. Finally, Citadel Advisors LLC acquired a new position in AAC Holdings during the 1st quarter worth about $145,000. 64.31% of the stock is currently owned by hedge funds and other institutional investors.
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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