Acadia Healthcare Co. (ACHC) Issues Q3 Earnings Guidance
Acadia Healthcare Co. (NASDAQ:ACHC) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided EPS guidance of ~$0.58 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.66. The company issued revenue guidance of ~$735 million, compared to the consensus revenue estimate of $744.43 million.
Acadia Healthcare Co. (NASDAQ:ACHC) traded up 4.03% during mid-day trading on Tuesday, hitting $45.19. 1,267,457 shares of the stock were exchanged. Acadia Healthcare Co. has a 52 week low of $42.47 and a 52 week high of $74.77. The company has a 50 day moving average price of $49.16 and a 200 day moving average price of $54.58. The stock has a market cap of $3.95 billion, a price-to-earnings ratio of 24.14 and a beta of 0.86.
Acadia Healthcare (NASDAQ:ACHC) last released its earnings results on Friday, July 29th. The company reported $0.73 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.73. Acadia Healthcare had a return on equity of 9.35% and a net margin of 6.44%. The company had revenue of $756.50 million for the quarter, compared to analysts’ expectations of $752.57 million. During the same quarter in the previous year, the business posted $0.57 EPS. The business’s revenue for the quarter was up 66.8% on a year-over-year basis. Analysts expect that Acadia Healthcare Co. will post $2.63 EPS for the current fiscal year.
ACHC has been the topic of several research analyst reports. Royal Bank Of Canada lowered their target price on Acadia Healthcare from $86.00 to $78.00 and set an outperform rating on the stock in a research note on Monday, August 1st. Leerink Swann reissued a buy rating and issued a $80.00 price target on shares of Acadia Healthcare in a research note on Sunday, August 28th. Jefferies Group reissued a buy rating and issued a $85.00 price target on shares of Acadia Healthcare in a research note on Monday, June 27th. RBC Capital Markets reissued an outperform rating and issued a $78.00 price target (down previously from $86.00) on shares of Acadia Healthcare in a research note on Monday, August 1st. Finally, Robert W. Baird lowered their price target on Acadia Healthcare from $67.00 to $66.00 and set an outperform rating for the company in a research note on Thursday, September 15th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $77.21.
In related news, COO Ronald Morgan Fincher sold 8,800 shares of the company’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $52.56, for a total value of $462,528.00. Following the completion of the transaction, the chief operating officer now directly owns 120,780 shares in the company, valued at $6,348,196.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Reeve B. Waud sold 1,360,977 shares of the company’s stock in a transaction on Friday, September 16th. The shares were sold at an average price of $48.52, for a total value of $66,034,604.04. Following the completion of the transaction, the director now owns 55,673 shares of the company’s stock, valued at $2,701,253.96. The disclosure for this sale can be found here. Insiders own 17.20% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Institutional Trust Company N.A. raised its position in shares of Acadia Healthcare by 10.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,824,171 shares of the company’s stock worth $101,059,000 after buying an additional 166,706 shares during the last quarter. American Century Companies Inc. purchased a new position in shares of Acadia Healthcare during the second quarter worth approximately $56,657,000. State Street Corp raised its position in shares of Acadia Healthcare by 9.5% in the second quarter. State Street Corp now owns 975,338 shares of the company’s stock worth $54,038,000 after buying an additional 84,531 shares during the last quarter. BlackRock Fund Advisors raised its position in shares of Acadia Healthcare by 16.9% in the second quarter. BlackRock Fund Advisors now owns 908,476 shares of the company’s stock worth $50,330,000 after buying an additional 131,667 shares during the last quarter. Finally, Baird Financial Group Inc. raised its position in shares of Acadia Healthcare by 5.2% in the second quarter. Baird Financial Group Inc. now owns 543,968 shares of the company’s stock worth $30,133,000 after buying an additional 26,957 shares during the last quarter.
About Acadia Healthcare
Acadia Healthcare Company, Inc is a provider of behavioral healthcare services. The Company operates in two segments: U.S. Facilities and U.K. Facilities. The Company develops and operates inpatient psychiatric facilities, residential treatment centers, group homes, substance abuse facilities and facilities providing outpatient behavioral healthcare services to serve the behavioral health and recovery needs of communities throughout the United States, the United Kingdom and Puerto Rico.
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