AAC Holdings Inc. (AAC) Downgraded by Zacks Investment Research to Strong Sell
AAC Holdings Inc. (NYSE:AAC) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Wednesday.
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. “
A number of other research firms also recently weighed in on AAC. Mizuho restated a “buy” rating and set a $26.00 target price (up previously from $24.00) on shares of AAC Holdings in a research report on Monday, July 18th. Raymond James Financial Inc. upgraded AAC Holdings from an “outperform” rating to a “strong-buy” rating and set a $29.00 target price for the company in a research report on Monday, August 15th. Finally, Citigroup Inc. upgraded AAC Holdings from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $27.00 to $29.00 in a research report on Monday, August 15th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $27.50.
Shares of AAC Holdings (NYSE:AAC) traded down 0.63% during midday trading on Wednesday, reaching $17.24. The company had a trading volume of 155,582 shares. The firm has a market cap of $408.61 million, a P/E ratio of 94.73 and a beta of 2.70. The company’s 50-day moving average is $18.16 and its 200-day moving average is $19.94. AAC Holdings has a 52-week low of $14.36 and a 52-week high of $28.72.
AAC Holdings (NYSE:AAC) last released its earnings results on Thursday, August 4th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by $0.05. The firm had revenue of $71.50 million for the quarter, compared to the consensus estimate of $67.42 million. AAC Holdings had a return on equity of 12.40% and a net margin of 1.73%. The company’s revenue was up 32.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.26 EPS. Equities research analysts expect that AAC Holdings will post $0.86 EPS for the current fiscal year.
In related news, major shareholder Jerrod N. Menz sold 1,897 shares of AAC Holdings stock in a transaction on Monday, July 18th. The stock was 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 of the company’s stock, valued at $57,112,022.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Darrell S. Freeman acquired 2,500 shares of the firm’s stock in a transaction that occurred on Friday, August 12th. The shares were bought at an average cost of $17.45 per share, with a total value of $43,625.00. Following the completion of the purchase, the director now owns 113,660 shares of the company’s stock, valued at $1,983,367. The disclosure for this purchase can be found here. Corporate insiders own 37.30% of the company’s stock.
Several large investors have recently made changes to their positions in AAC. BlackRock Advisors LLC boosted its position in AAC Holdings by 14.7% in the second quarter. BlackRock Advisors LLC now owns 4,500 shares of the company’s stock worth $103,000 after buying an additional 577 shares during the last quarter. American International Group Inc. boosted its position in AAC Holdings by 10.6% in the second quarter. American International Group Inc. now owns 5,708 shares of the company’s stock worth $130,000 after buying an additional 546 shares during the last quarter. Nationwide Fund Advisors boosted its position in AAC Holdings by 15.2% in the second quarter. Nationwide Fund Advisors now owns 5,935 shares of the company’s stock worth $135,000 after buying an additional 784 shares during the last quarter. Metropolitan Life Insurance Co. NY acquired a new position in AAC Holdings during the first quarter worth about $138,000. Finally, Rhumbline Advisers acquired a new position in AAC Holdings during the second quarter worth about $210,000. 51.39% 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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