Cantor Fitzgerald Reaffirms Overweight Rating for AAC Holdings, Inc. (AAC)
AAC Holdings, Inc. (NYSE:AAC)‘s stock had its “overweight” rating reissued by equities researchers at Cantor Fitzgerald in a note issued to investors on Wednesday. They currently have a $14.00 target price on the stock, up from their prior target price of $11.00. Cantor Fitzgerald’s target price would suggest a potential upside of 20.17% from the company’s current price.
The analysts wrote, “Significant acquisition. AAC is acquiring AdCare, Inc., a leading addiction treatment provider in New England that has more than 6,000 hospital and residential admissions and over 115,000 outpatient visits per year. The company’s facilities include a 114-bed substance abuse hospital and five outpatient centers in Massachusetts and a 52-bed residential treatment center and two outpatient centers in Rhode Island.””
Several other research analysts also recently weighed in on AAC. Mizuho decreased their price target on shares of AAC Holdings from $9.00 to $6.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 30th. Zacks Investment Research downgraded shares of AAC Holdings from a “hold” rating to a “sell” rating in a research report on Monday, July 10th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. AAC Holdings currently has a consensus rating of “Hold” and a consensus price target of $10.00.
Shares of AAC Holdings (AAC) traded up 1.12% during midday trading on Wednesday, reaching $11.78. 118,387 shares of the company’s stock were exchanged. AAC Holdings has a one year low of $5.99 and a one year high of $19.98. The firm has a 50 day moving average of $8.63 and a 200-day moving average of $7.72. The stock’s market cap is $283.43 million.
AAC Holdings (NYSE:AAC) last issued its earnings results on Wednesday, August 2nd. The company reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.12. AAC Holdings had a negative net margin of 1.55% and a positive return on equity of 10.70%. The company had revenue of $78.04 million for the quarter, compared to analysts’ expectations of $73.40 million. During the same quarter last year, the company posted $0.18 earnings per share. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. On average, equities research analysts anticipate that AAC Holdings will post $0.54 earnings per share for the current year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in AAC. San Francisco Sentry Investment Group CA bought a new position in AAC Holdings in the second quarter worth approximately $31,241,000. Cortina Asset Management LLC raised its position in AAC Holdings by 28.8% in the first quarter. Cortina Asset Management LLC now owns 1,197,769 shares of the company’s stock worth $10,217,000 after acquiring an additional 267,860 shares during the period. Royce & Associates LP bought a new position in AAC Holdings in the first quarter worth approximately $1,616,000. Mondrian Investment Partners LTD raised its position in AAC Holdings by 21.3% in the second quarter. Mondrian Investment Partners LTD now owns 482,965 shares of the company’s stock worth $3,347,000 after acquiring an additional 84,905 shares during the period. Finally, Stephens Investment Management Group LLC raised its position in AAC Holdings by 7.7% in the first quarter. Stephens Investment Management Group LLC now owns 1,145,317 shares of the company’s stock worth $9,770,000 after acquiring an additional 81,492 shares during the period. Institutional investors and hedge funds own 64.31% of the company’s stock.
About AAC Holdings
AAC Holdings, Inc is a provider of inpatient and outpatient substance abuse treatment services for individuals with drug and alcohol addiction. The Company performs drug testing and diagnostics laboratory services and provides physician services to its clients. As of June 30, 2016, the Company operated 12 residential substance abuse treatment facilities located throughout the United States, focused on delivering clinical care and treatment solutions across 1,139 beds, which includes 636 licensed detoxification beds, and 18 standalone outpatient centers.
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