AAC Holdings Inc. (NYSE:AAC) – Equities researchers at Avondale Partners issued their Q3 2016 earnings estimates for AAC Holdings in a research report issued to clients and investors on Monday. Avondale Partners analyst P. Torch forecasts that the brokerage will post earnings of $0.23 per share for the quarter.
AAC Holdings (NYSE:AAC) last released its earnings results on Thursday, August 4th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by $0.05. The business earned $71.50 million during the quarter, compared to the consensus estimate of $67.42 million. AAC Holdings had a net margin of 1.73% and a return on equity of 12.40%. The business’s revenue was up 32.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.26 earnings per share.
Several other analysts have also recently 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 price objective on the stock in a research report on Monday, August 15th. Zacks Investment Research cut AAC Holdings from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 5th. Citigroup Inc. upgraded shares of AAC Holdings from an “outperform” rating to a “strong-buy” rating and lifted 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. Finally, Mizuho reiterated a “buy” rating and set a $26.00 target price (up from $24.00) on shares of AAC Holdings in a report on Monday, July 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $27.50.
Shares of AAC Holdings (NYSE:AAC) traded down 0.70% during trading on Wednesday, reaching $17.05. The company’s stock had a trading volume of 62,736 shares. The firm’s 50-day moving average price is $18.08 and its 200-day moving average price is $19.87. AAC Holdings has a one year low of $14.36 and a one year high of $28.72. The company has a market capitalization of $404.10 million, a price-to-earnings ratio of 93.68 and a beta of 2.70.
Institutional investors have recently made changes to their positions in the company. Sterling Capital Management LLC raised its position in shares of AAC Holdings by 10.8% in the second quarter. Sterling Capital Management LLC now owns 90,073 shares of the company’s stock worth $2,055,000 after buying an additional 8,794 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of AAC Holdings by 1.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 22,314 shares of the company’s stock worth $510,000 after buying an additional 336 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its position in shares of AAC Holdings by 18.6% in the second quarter. Metropolitan Life Insurance Co. NY now owns 8,298 shares of the company’s stock worth $189,000 after buying an additional 1,303 shares during the last quarter. Point72 Asset Management L.P. raised its position in shares of AAC Holdings by 87.7% in the second quarter. Point72 Asset Management L.P. now owns 67,000 shares of the company’s stock worth $1,529,000 after buying an additional 31,300 shares during the last quarter. Finally, EverPoint Asset Management LLC raised its position in shares of AAC Holdings by 122.2% in the second quarter. EverPoint Asset Management LLC now owns 200,000 shares of the company’s stock worth $4,564,000 after buying an additional 110,000 shares during the last quarter. Institutional investors own 51.39% of the company’s stock.
In other news, Director Darrell S. Freeman acquired 2,500 shares of the firm’s stock in a transaction that occurred on Friday, August 12th. The stock was bought at an average cost of $17.45 per share, for a total transaction of $43,625.00. Following the acquisition, the director now directly owns 113,660 shares in the company, valued at $1,983,367. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Michael T. Cartwright sold 24,576 shares of the business’s stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $23.26, for a total transaction of $571,637.76. Following the completion of the transaction, the chairman now owns 3,080,490 shares of the company’s stock, valued at $71,652,197.40. The disclosure for this sale can be found here. Insiders own 37.30% of the company’s stock.
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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