AAC Holdings Inc. (AAC) Forecasted to Earn Q3 2016 Earnings of $0.23 Per Share
AAC Holdings Inc. (NYSE:AAC) – Equities researchers at Avondale Partners issued their Q3 2016 EPS estimates for AAC Holdings in a report issued on Monday. Avondale Partners analyst P. Torch expects that the brokerage will post earnings of $0.23 per share for the quarter.
AAC Holdings (NYSE:AAC) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.23 by $0.05. The company had revenue of $71.50 million for the quarter, compared to analyst estimates of $67.42 million. AAC Holdings had a return on equity of 12.40% and a net margin of 1.73%. The business’s revenue was up 32.9% on a year-over-year basis. During the same period last year, the firm posted $0.26 earnings per share.
AAC has been the subject of several other research reports. Zacks Investment Research downgraded AAC Holdings from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 5th. 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 research note on Monday, August 15th. Citigroup Inc. upgraded AAC Holdings from an “outperform” rating to a “strong-buy” rating and upped their price target for the stock from $27.00 to $29.00 in a research note on Monday, August 15th. They noted that the move was a valuation call. Finally, Mizuho reiterated a “buy” rating and set a $26.00 price target (up previously from $24.00) on shares of AAC Holdings in a research note on Monday, July 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $27.50.
AAC Holdings (NYSE:AAC) opened at 17.21 on Wednesday. AAC Holdings has a 52-week low of $14.36 and a 52-week high of $28.72. The firm has a market capitalization of $407.89 million, a price-to-earnings ratio of 94.56 and a beta of 2.70. The company’s 50-day moving average price is $18.03 and its 200 day moving average price is $19.85.
In related news, CEO Michael T. Cartwright sold 17,898 shares of the stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $23.02, for a total transaction of $412,011.96. Following the completion of the sale, the chief executive officer now owns 3,139,535 shares in the company, valued at approximately $72,272,095.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael T. Cartwright sold 24,624 shares of the stock in a transaction that occurred on Tuesday, July 19th. The shares were sold at an average price of $23.06, for a total value of $567,829.44. Following the sale, the chief executive officer now owns 3,109,911 shares of the company’s stock, valued at approximately $71,714,547.66. The disclosure for this sale can be found here. Corporate insiders own 37.30% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. 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 valued at $103,000 after buying an additional 577 shares during the period. 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 valued at $130,000 after buying an additional 546 shares during the period. 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 valued at $135,000 after buying an additional 784 shares during the period. Metropolitan Life Insurance Co. NY purchased a new position in AAC Holdings during the first quarter valued at approximately $138,000. Finally, Rhumbline Advisers purchased a new position in AAC Holdings during the second quarter valued at approximately $210,000. Hedge funds and other institutional investors own 51.39% of the company’s stock.
About AAC Holdings
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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