AAC (AAC) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of AAC (NYSE:AAC) from a sell rating to a hold rating in a research note published on Wednesday morning.

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. “

AAC has been the subject of several other reports. Raymond James Financial raised AAC from a mkt perform rating to an outperform rating in a research note on Friday, November 3rd. Cantor Fitzgerald reissued a buy rating and set a $14.00 target price on shares of AAC in a research note on Wednesday, September 27th. Finally, UBS Group raised AAC from a market perform rating to an outperform rating in a research note on Friday, November 3rd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $10.00.

Shares of AAC (AAC) opened at $9.27 on Wednesday. The company has a quick ratio of 3.28, a current ratio of 3.28 and a debt-to-equity ratio of 1.42. The stock has a market capitalization of $222.46, a price-to-earnings ratio of -154.50 and a beta of 1.95. AAC has a 1-year low of $5.99 and a 1-year high of $13.06.

AAC (NYSE:AAC) last posted its quarterly earnings data 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 had a positive return on equity of 9.64% and a negative net margin of 0.42%. The firm had revenue of $80.42 million for the quarter, compared to the consensus estimate of $74.49 million. During the same quarter in the previous year, the business earned $0.19 EPS. The company’s quarterly revenue was up 14.0% compared to the same quarter last year. research analysts forecast that AAC will post 0.54 earnings per share for the current fiscal year.

In other AAC news, Director W Larry Cash acquired 10,000 shares of the stock in a transaction dated Thursday, November 30th. The stock was acquired at an average cost of $9.07 per share, with a total value of $90,700.00. Following the transaction, the director now owns 25,000 shares in the company, valued at approximately $226,750. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Jerrod N. Menz sold 700,000 shares of the company’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $10.22, for a total value of $7,154,000.00. The disclosure for this sale can be found here. Insiders own 37.30% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. San Francisco Sentry Investment Group CA acquired a new position in shares of AAC during the 2nd quarter worth about $31,241,000. EAM Investors LLC acquired a new position in shares of AAC during the 3rd quarter worth about $1,977,000. State Street Corp boosted its position in shares of AAC by 7.4% during the 2nd quarter. State Street Corp now owns 164,658 shares of the company’s stock worth $1,139,000 after acquiring an additional 11,338 shares in the last quarter. Northern Trust Corp boosted its position in shares of AAC by 4.6% during the 2nd quarter. Northern Trust Corp now owns 128,741 shares of the company’s stock worth $893,000 after acquiring an additional 5,709 shares in the last quarter. Finally, Sterling Capital Management LLC boosted its position in shares of AAC by 15.8% during the 3rd quarter. Sterling Capital Management LLC now owns 120,869 shares of the company’s stock worth $1,200,000 after acquiring an additional 16,484 shares in the last quarter. 42.57% of the stock is 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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