Acadia Healthcare Co. (NASDAQ:ACHC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.
According to Zacks, “Acadia Healthcare’s second quarter 2016 results failed to impress us. The lack of visibility in the company's UK operations is a major concern, which will limit Acadia’s growth prospects in the near term. However, owing to a large addressable market in the U.S. and the U.K, Acadia has managed to bag strong revenues and earnings in the second quarter. We note that the company is a premier name in the behavioral healthcare market and has planned to divest massively, which is expected to address the integration headwinds in UK. Meanwhile, addition of new beds at Acadia’s facilities, opening of de novo facility, and new acquisitions in US are expected to fortify the company’s market position in the rest of full-year 2016.”
ACHC has been the subject of a number of other reports. Robert W. Baird reiterated an “outperform” rating and set a $69.00 price objective on shares of Acadia Healthcare in a research report on Tuesday, June 14th. Royal Bank Of Canada lowered their price objective on shares of Acadia Healthcare from $86.00 to $78.00 and set an “outperform” rating for the company in a research report on Monday, August 1st. Jefferies Group reiterated a “buy” rating and set a $85.00 price objective on shares of Acadia Healthcare in a research report on Monday, June 27th. Leerink Swann reiterated an “outperform” rating and set a $90.00 price objective on shares of Acadia Healthcare in a research report on Friday, July 15th. Finally, RBC Capital Markets reiterated an “outperform” rating and set a $78.00 price objective (down from $86.00) on shares of Acadia Healthcare in a research report on Monday, August 1st. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $77.21.
Acadia Healthcare (NASDAQ:ACHC) traded down 1.41% during midday trading on Monday, reaching $48.85. 451,813 shares of the company’s stock traded hands. Acadia Healthcare has a 1-year low of $46.99 and a 1-year high of $74.77. The firm has a market cap of $4.27 billion, a price-to-earnings ratio of 26.10 and a beta of 0.86. The stock’s 50 day moving average price is $50.94 and its 200 day moving average price is $55.13.
Acadia Healthcare (NASDAQ:ACHC) last issued its earnings results on Friday, July 29th. The company reported $0.73 EPS for the quarter, meeting the consensus estimate of $0.73. The company earned $756.50 million during the quarter, compared to analysts’ expectations of $752.57 million. Acadia Healthcare had a net margin of 6.44% and a return on equity of 9.35%. The business’s revenue for the quarter was up 66.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.57 EPS. Equities research analysts anticipate that Acadia Healthcare will post $2.63 EPS for the current year.
In related news, Director Reeve B. Waud sold 1,360,977 shares of the stock in a transaction on Friday, September 16th. The shares were sold at an average price of $48.52, for a total transaction of $66,034,604.04. Following the transaction, the director now directly owns 55,673 shares of the company’s stock, valued at $2,701,253.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Waud Capital Partners Iii, L.L sold 457,443 shares of the stock in a transaction on Friday, September 16th. The stock was sold at an average price of $48.39, for a total transaction of $22,135,666.77. The disclosure for this sale can be found here. 17.20% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. American International Group Inc. raised its position in shares of Acadia Healthcare by 71.7% in the second quarter. American International Group Inc. now owns 2,218 shares of the company’s stock valued at $123,000 after buying an additional 926 shares in the last quarter. Advisor Group Inc. bought a new position in shares of Acadia Healthcare during the second quarter valued at about $166,000. Springbok Capital Management LLC raised its position in shares of Acadia Healthcare by 101.3% in the first quarter. Springbok Capital Management LLC now owns 3,741 shares of the company’s stock valued at $206,000 after buying an additional 1,883 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Acadia Healthcare during the second quarter valued at about $210,000. Finally, Calvert Investment Management Inc. raised its position in shares of Acadia Healthcare by 0.9% in the second quarter. Calvert Investment Management Inc. now owns 4,192 shares of the company’s stock valued at $232,000 after buying an additional 39 shares in the last quarter.
About Acadia Healthcare
Acadia Healthcare Company, Inc is a provider of behavioral healthcare services. The Company operates in two segments: U.S. Facilities and U.K. Facilities. The Company develops and operates inpatient psychiatric facilities, residential treatment centers, group homes, substance abuse facilities and facilities providing outpatient behavioral healthcare services to serve the behavioral health and recovery needs of communities throughout the United States, the United Kingdom and Puerto Rico.
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