AAC Holdings Inc. (AAC) Sees Strong Trading Volume
AAC Holdings Inc. (NYSE:AAC) shares saw an uptick in trading volume on Thursday . 170,520 shares were traded during trading, an increase of 62% from the previous session’s volume of 105,012 shares.The stock last traded at $20.33 and had previously closed at $19.96.
Several research firms recently commented on AAC. Mizuho reiterated a “buy” rating and set a $24.00 target price on shares of AAC Holdings in a research report on Thursday, June 16th. Avondale Partners reiterated a “market outperform” rating on shares of AAC Holdings in a research report on Monday, April 18th. Zacks Investment Research upgraded shares of AAC Holdings from a “hold” rating to a “strong-buy” rating and set a $26.00 target price on the stock in a research report on Wednesday, July 6th. Finally, TheStreet upgraded shares of AAC Holdings from a “sell” rating to a “hold” rating in a research report on Thursday, May 5th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. AAC Holdings presently has an average rating of “Buy” and a consensus target price of $26.00.
The stock has a market cap of $474.89 million and a PE ratio of 49.07. The stock has a 50-day moving average price of $21.71 and a 200 day moving average price of $20.26.
AAC Holdings (NYSE:AAC) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.18 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by $0.05. During the same quarter in the previous year, the company posted $0.26 earnings per share. The company earned $71.50 million during the quarter, compared to the consensus estimate of $67.42 million. The company’s quarterly revenue was up 32.9% compared to the same quarter last year. Analysts forecast that AAC Holdings Inc. will post $0.96 earnings per share for the current fiscal year.
In related news, 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 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael T. Cartwright sold 14,300 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $23.09, for a total value of $330,187.00. Following the completion of the transaction, the chief executive officer now directly owns 3,166,190 shares in the company, valued at $73,107,327.10. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in AAC Holdings stock. Russell Frank Co raised its position in AAC Holdings Inc. (NYSE:AAC) by 5.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 153,638 shares of the company’s stock after buying an additional 8,492 shares during the period. Russell Frank Co owned about 0.69% of AAC Holdings worth $2,850,000 as of its most recent filing with the SEC.
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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