AAC Holdings Inc. (AAC) Sees Large Volume Increase
Shares of AAC Holdings Inc. (NYSE:AAC) saw an uptick in trading volume on Tuesday . 171,852 shares were traded during trading, an increase of 3% from the previous session’s volume of 167,333 shares.The stock last traded at $18.07 and had previously closed at $18.55.
A number of research analysts recently issued reports on the company. Mizuho reiterated a “buy” rating and issued a $26.00 price target (up previously from $24.00) on shares of AAC Holdings in a research report on Monday, July 18th. Zacks Investment Research lowered AAC Holdings from a “buy” rating to a “hold” rating in a report on Monday, July 11th. TheStreet upgraded AAC Holdings from a “sell” rating to a “hold” rating in a report on Thursday, May 5th. Avondale Partners reiterated a “market outperform” rating on shares of AAC Holdings in a report on Monday, April 18th. Finally, Raymond James Financial Inc. upgraded AAC Holdings from an “outperform” rating to a “strong-buy” rating and set a $29.00 price target for the company in a report on Monday. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $27.50.
The firm has a market cap of $433.25 million and a P/E ratio of 100.44. The company has a 50-day moving average price of $21.28 and a 200-day moving average price of $20.31.
AAC Holdings (NYSE:AAC) last issued its earnings results on Thursday, August 4th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by $0.05. The business had revenue of $71.50 million for the quarter, compared to analyst estimates of $67.42 million. During the same quarter last year, the firm earned $0.26 earnings per share. AAC Holdings’s revenue for the quarter was up 32.9% on a year-over-year basis. On average, equities research analysts expect that AAC Holdings Inc. will post $0.86 EPS for the current year.
In other news, major shareholder Jerrod N. Menz sold 1,897 shares of the stock in a transaction dated Monday, July 18th. The shares were sold at an average price of $23.05, for a total transaction of $43,725.85. Following the completion of the sale, the insider now directly owns 2,477,745 shares in the company, valued at $57,112,022.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Michael T. Cartwright sold 24,576 shares of the stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $23.26, for a total transaction of $571,637.76. Following the sale, 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.
A hedge fund recently raised its stake in AAC Holdings stock. Russell Frank Co boosted its stake in shares of AAC Holdings Inc. (NYSE:AAC) by 5.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 153,638 shares of the company’s stock after buying an additional 8,492 shares during the period. Russell Frank Co owned 0.69% of AAC Holdings worth $2,850,000 at the end of the most recent reporting period.
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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