AAC Holdings Inc. (AAC) Sees Strong Trading Volume
Shares of AAC Holdings Inc. (NYSE:AAC) saw unusually-high trading volume on Tuesday . Approximately 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.
Several equities research analysts have recently weighed in on the company. TheStreet raised AAC Holdings from a “sell” rating to a “hold” rating in a research note on Thursday, May 5th. Mizuho raised AAC Holdings from a “neutral” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Wednesday, May 25th. Zacks Investment Research raised AAC Holdings from a “hold” rating to a “strong-buy” rating and set a $26.00 price objective for the company in a research note on Wednesday, July 6th. Citigroup Inc. raised AAC Holdings from an “outperform” rating to a “strong-buy” rating and raised their price objective for the stock from $27.00 to $29.00 in a research note on Monday. They noted that the move was a valuation call. Finally, Raymond James Financial Inc. raised AAC Holdings from an “outperform” rating to a “strong-buy” rating and set a $29.00 price objective for the company in a research note on Monday. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company’s stock. AAC Holdings currently has a consensus rating of “Buy” and a consensus price target of $27.50.
The stock’s 50 day moving average price is $21.20 and its 200-day moving average price is $20.29. The firm has a market capitalization of $423.77 million and a P/E ratio of 98.24.
AAC Holdings (NYSE:AAC) last posted 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 firm had revenue of $71.50 million for the quarter, compared to the consensus estimate of $67.42 million. The company’s revenue was up 32.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.26 EPS. Equities research analysts expect that AAC Holdings Inc. will post $0.86 EPS for the current fiscal year.
In related news, CEO Michael T. Cartwright sold 13,519 shares of the business’s stock in a transaction that occurred on Tuesday, June 28th. The shares were sold at an average price of $21.02, for a total value of $284,169.38. Following the completion of the transaction, the chief executive officer now owns 3,180,490 shares in the company, valued at approximately $66,853,899.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Jerrod N. Menz sold 59,300 shares of the business’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $21.68, for a total transaction of $1,285,624.00. Following the completion of the transaction, the insider now owns 2,537,045 shares of the company’s stock, valued at approximately $55,003,135.60. The disclosure for this sale can be found here.
An institutional investor recently raised its position in AAC Holdings stock. Russell Frank Co increased its stake in AAC Holdings Inc. (NYSE:AAC) by 5.9% during the fourth quarter, according to its most recent Form 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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