AAC (AAC) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of AAC (NYSE:AAC) from a hold rating to a buy rating in a research note released on Tuesday. Zacks Investment Research currently has $11.00 price target on the stock.

According to Zacks, “AAC Holdings, Inc. is a provider of inpatient substance abuse treatment services for individuals with drug and alcohol addiction. It provides detoxification, residential treatment, partial hospitalization, and intensive outpatient care services. AAC Holdings, Inc. is headquartered in Brentwood, Tennessee. “

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Several other research firms have also commented on AAC. Cantor Fitzgerald restated a buy rating and set a $14.00 price target on shares of AAC in a research report on Thursday, November 16th. ValuEngine upgraded shares of AAC from a hold rating to a buy rating in a research report on Friday, February 23rd. Finally, TheStreet lowered shares of AAC from a c- rating to a d+ rating in a research report on Thursday, February 22nd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has an average rating of Buy and an average target price of $10.33.

Shares of AAC (NYSE AAC) opened at $11.97 on Tuesday. The company has a market cap of $261.68, a price-to-earnings ratio of -13.60 and a beta of 1.62. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.62. AAC has a 52-week low of $5.99 and a 52-week high of $13.06.

AAC (NYSE:AAC) last released its quarterly earnings results on Wednesday, February 21st. The company reported $0.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.06. The company had revenue of $86.10 million for the quarter, compared to analyst estimates of $72.82 million. AAC had a negative net margin of 6.48% and a positive return on equity of 9.25%. The firm’s revenue was up 19.0% on a year-over-year basis. During the same quarter last year, the business earned $0.15 earnings per share. equities analysts expect that AAC will post 0.76 EPS for the current year.

In other AAC news, Director David C. Kloeppel sold 10,000 shares of the stock in a transaction on Monday, January 29th. The shares were sold at an average price of $9.50, for a total transaction of $95,000.00. Following the transaction, the director now directly owns 202,580 shares of the company’s stock, valued at $1,924,510. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director W Larry Cash acquired 5,000 shares of the firm’s stock in a transaction on Tuesday, March 6th. The shares were bought at an average cost of $9.92 per share, for a total transaction of $49,600.00. Following the completion of the acquisition, the director now owns 30,000 shares of the company’s stock, valued at $297,600. The disclosure for this purchase can be found here. Company insiders own 37.30% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. purchased a new position in AAC during the fourth quarter valued at $114,000. GSA Capital Partners LLP purchased a new position in AAC during the third quarter valued at $190,000. California State Teachers Retirement System lifted its holdings in AAC 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 purchasing an additional 300 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in AAC 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 purchasing an additional 760 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in AAC by 154.1% during the fourth quarter. Deutsche Bank AG now owns 27,049 shares of the company’s stock valued at $243,000 after purchasing an additional 16,404 shares in the last quarter. 64.27% of the stock is currently owned by institutional investors and hedge funds.

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AAC Company Profile

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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