AAC Holdings, Inc. (NYSE:AAC)‘s stock had its “buy” rating reissued by investment analysts at Cantor Fitzgerald in a report released on Wednesday. They presently have a $14.00 target price on the stock. Cantor Fitzgerald’s target price indicates a potential upside of 76.77% from the company’s current price.
The analysts wrote, “AAC’s 3Q17 results were significantly better than expected, although the Bloomberg consensus includes only three estimates and the full year outlook is unchanged.””
Separately, Zacks Investment Research lowered AAC Holdings from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. AAC Holdings presently has a consensus rating of “Hold” and a consensus price target of $10.00.
AAC Holdings (NYSE:AAC) last issued its quarterly earnings results on Wednesday, November 1st. The company reported $0.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.07. AAC Holdings had a positive return on equity of 10.70% and a negative net margin of 1.55%. The firm had revenue of $80.42 million for the quarter, compared to analyst estimates of $74.49 million. During the same period in the previous year, the firm earned $0.19 earnings per share. The company’s revenue was up 14.0% compared to the same quarter last year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System increased its holdings in shares of AAC Holdings by 1.5% during the second quarter. California State Teachers Retirement System now owns 20,291 shares of the company’s stock valued at $141,000 after acquiring an additional 300 shares in the last quarter. Alliancebernstein L.P. increased its holdings in shares of AAC Holdings by 3.8% during the second quarter. Alliancebernstein L.P. now owns 20,600 shares of the company’s stock valued at $143,000 after acquiring an additional 760 shares in the last quarter. Woodmont Investment Counsel LLC increased its holdings in shares of AAC Holdings by 10.0% during the second quarter. Woodmont Investment Counsel LLC now owns 45,226 shares of the company’s stock valued at $313,000 after acquiring an additional 4,130 shares in the last quarter. Northern Trust Corp increased its holdings in shares of AAC Holdings by 4.6% during the second quarter. Northern Trust Corp now owns 128,741 shares of the company’s stock valued at $893,000 after acquiring an additional 5,709 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of AAC Holdings by 38.5% during the second quarter. Rhumbline Advisers now owns 21,719 shares of the company’s stock valued at $151,000 after acquiring an additional 6,040 shares in the last quarter. Hedge funds and other institutional investors own 63.96% 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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