AAC Holdings Inc (AAC) Rating Increased to Hold at Zacks Investment Research
AAC Holdings Inc (NYSE:AAC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Friday.
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. “
Shares of AAC Holdings (NYSE:AAC) opened at 8.37 on Friday. AAC Holdings has a 1-year low of $6.01 and a 1-year high of $24.38. The firm’s market cap is $198.29 million. The company’s 50-day moving average is $8.28 and its 200 day moving average is $11.33.
AAC Holdings (NYSE:AAC) last released its quarterly earnings results on Monday, February 27th. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by $0.01. The business had revenue of $72.40 million for the quarter, compared to the consensus estimate of $70.54 million. AAC Holdings had a negative net margin of 0.23% and a positive return on equity of 11.33%. The firm’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.17 EPS. On average, equities research analysts expect that AAC Holdings will post $0.54 EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of AAC. Dynamic Technology Lab Private Ltd purchased a new position in AAC Holdings during the fourth quarter worth about $216,000. Massmutual Trust Co. FSB ADV purchased a new position in AAC Holdings during the fourth quarter worth about $115,000. Marshall Wace LLP raised its position in AAC Holdings by 26.9% in the fourth quarter. Marshall Wace LLP now owns 35,133 shares of the company’s stock worth $254,000 after buying an additional 7,443 shares during the last quarter. State Street Corp raised its position in AAC Holdings by 16.5% in the fourth quarter. State Street Corp now owns 146,377 shares of the company’s stock worth $1,060,000 after buying an additional 20,779 shares during the last quarter. Finally, DF Dent & Co. Inc. raised its position in AAC Holdings by 8.1% in the third quarter. DF Dent & Co. Inc. now owns 1,144,082 shares of the company’s stock worth $19,896,000 after buying an additional 85,384 shares during the last quarter. Institutional investors and hedge funds own 44.14% of the company’s stock.
AAC Holdings 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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