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. “
Several other equities research analysts have also weighed in on the company. 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 research report on Monday, August 15th. Citigroup Inc. raised AAC Holdings from an outperform rating to a strong-buy rating and raised their price target 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. Finally, Mizuho reissued a buy rating and set a $26.00 price target (up from $24.00) on shares of AAC Holdings in a report on Monday, July 18th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of Buy and an average target price of $27.50.
Shares of AAC Holdings (NYSE:AAC) traded down 0.89% on Monday, reaching $16.77. 16,830 shares of the company traded hands. The company has a market capitalization of $397.47 million, a PE ratio of 92.14 and a beta of 2.71. AAC Holdings has a 52-week low of $14.36 and a 52-week high of $28.59. The firm has a 50-day moving average of $17.91 and a 200-day moving average of $19.82.
AAC Holdings (NYSE:AAC) last issued its earnings results on Thursday, August 4th. The company reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by $0.05. AAC Holdings had a return on equity of 12.40% and a net margin of 1.73%. The company earned $71.50 million during the quarter, compared to analyst estimates of $67.42 million. During the same period in the prior year, the business earned $0.26 earnings per share. AAC Holdings’s quarterly revenue was up 32.9% on a year-over-year basis. On average, equities research analysts forecast that AAC Holdings will post $0.86 earnings per share for the current fiscal year.
In other news, Director Darrell S. Freeman bought 2,500 shares of the firm’s stock in a transaction that occurred on Friday, August 12th. The stock was acquired at an average price of $17.45 per share, with a total value of $43,625.00. Following the completion of the purchase, the director now directly owns 113,660 shares of the company’s stock, valued at approximately $1,983,367. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Michael T. Cartwright sold 24,576 shares of the firm’s stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $23.26, for a total value of $571,637.76. Following the transaction, the chairman now directly owns 3,080,490 shares of the company’s stock, valued at approximately $71,652,197.40. The disclosure for this sale can be found here. Insiders own 37.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in AAC. BlackRock Advisors LLC boosted its position in shares of AAC Holdings by 14.7% in the second quarter. BlackRock Advisors LLC now owns 4,500 shares of the company’s stock valued at $103,000 after buying an additional 577 shares in the last quarter. American International Group Inc. boosted its position in shares of AAC Holdings by 10.6% in the second quarter. American International Group Inc. now owns 5,708 shares of the company’s stock valued at $130,000 after buying an additional 546 shares in the last quarter. Nationwide Fund Advisors boosted its position in shares of AAC Holdings by 15.2% in the second quarter. Nationwide Fund Advisors now owns 5,935 shares of the company’s stock valued at $135,000 after buying an additional 784 shares in the last quarter. Metropolitan Life Insurance Co. NY purchased a new position in shares of AAC Holdings during the first quarter valued at $138,000. Finally, Rhumbline Advisers purchased a new position in shares of AAC Holdings during the second quarter valued at $210,000. 51.42% of the stock is owned by institutional investors and hedge funds.
AAC Holdings Company Profile
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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