Citigroup Cuts Accendra Health (NYSE:ACH) Price Target to $4.50

Accendra Health (NYSE:ACH) had its target price cut by investment analysts at Citigroup from $5.00 to $4.50 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective points to a potential upside of 44.23% from the company’s current price.

ACH has been the subject of a number of other research reports. Zacks Research raised Accendra Health from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. Weiss Ratings raised Accendra Health from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday. Robert W. Baird boosted their price target on Accendra Health from $5.00 to $6.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. Finally, UBS Group increased their price objective on Accendra Health from $3.00 to $4.50 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $5.00.

Accendra Health Price Performance

Accendra Health stock traded down $0.01 during mid-day trading on Friday, hitting $3.12. The company had a trading volume of 180,386 shares, compared to its average volume of 943,704. The stock has a market cap of $238.93 million, a P/E ratio of -0.22, a price-to-earnings-growth ratio of 4.87 and a beta of 1.58. The firm’s fifty day moving average is $3.12. Accendra Health has a 12-month low of $1.84 and a 12-month high of $7.99.

Accendra Health (NYSE:ACH) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.02. The firm had revenue of $627.78 million during the quarter. Accendra Health had a negative return on equity of 13.18% and a negative net margin of 39.84%. On average, sell-side analysts expect that Accendra Health will post 0.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Accendra Health

Institutional investors have recently made changes to their positions in the stock. Walleye Capital LLC acquired a new stake in Accendra Health in the 1st quarter valued at approximately $27,000. Hsbc Holdings PLC acquired a new position in Accendra Health during the first quarter worth $34,000. Abel Hall LLC purchased a new position in shares of Accendra Health during the first quarter worth $44,000. Keybank National Association OH purchased a new position in shares of Accendra Health during the first quarter worth $46,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Accendra Health during the first quarter worth $50,000.

About Accendra Health

Accendra Health Inc is a nationwide provider of products, technology, and services that support health beyond the hospital by connecting patients, providers, and insurers. Through its brands, Apria and Byram Healthcare, the company delivers disposable medical supplies, integrated home healthcare equipment, and related services that help improve health outcomes and quality of life for individuals with chronic, complex, and acute health conditions. Its offerings span diabetes treatment, home respiratory therapy, and obstructive sleep apnea treatment, along with patient support services.