Acadia Healthcare (NASDAQ:ACHC) Issues Earnings Results

Acadia Healthcare (NASDAQ:ACHC) announced its quarterly earnings data on Wednesday. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.04, Briefing.com reports. Acadia Healthcare had a negative net margin of 0.74% and a positive return on equity of 11.21%. The firm had revenue of $768.10 million for the quarter, compared to analysts’ expectations of $779.20 million. During the same period last year, the firm earned $0.75 earnings per share. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. Acadia Healthcare updated its FY24 guidance to $3.40-3.70 EPS and its FY 2024 guidance to 3.400-3.700 EPS.

Acadia Healthcare Trading Down 6.5 %

NASDAQ ACHC traded down $4.76 during trading on Thursday, hitting $68.23. 630,731 shares of the company’s stock traded hands, compared to its average volume of 571,479. The firm has a market cap of $6.31 billion, a P/E ratio of -273.23, a PEG ratio of 2.18 and a beta of 1.31. Acadia Healthcare has a 12-month low of $66.49 and a 12-month high of $87.77. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a fifty day moving average of $77.49 and a two-hundred day moving average of $77.68.

Analysts Set New Price Targets

Several analysts recently commented on ACHC shares. TD Cowen raised their price objective on Acadia Healthcare from $86.00 to $101.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. Stephens raised shares of Acadia Healthcare from an “equal weight” rating to an “overweight” rating and set a $92.00 price objective for the company in a research report on Friday, January 5th. UBS Group increased their target price on Acadia Healthcare from $88.00 to $102.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft raised Acadia Healthcare from a “sell” rating to a “hold” rating and set a $70.00 price objective for the company in a research report on Thursday, April 25th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $90.00 price target on shares of Acadia Healthcare in a research note on Tuesday, March 5th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $91.00.

Insider Buying and Selling

In related news, Director Wade D. Miquelon sold 2,203 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $85.39, for a total value of $188,114.17. Following the completion of the transaction, the director now directly owns 46,074 shares of the company’s stock, valued at $3,934,258.86. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.00% of the stock is owned by insiders.

About Acadia Healthcare

Acadia Healthcare Company, Inc provides behavioral healthcare services in the United States and Puerto Rico. The company develops and operates acute inpatient psychiatric facilities, specialty treatment facilities comprising residential recovery facilities and eating disorder facilities, comprehensive treatment centers, and residential treatment centers, as well as facilities offering outpatient behavioral healthcare services for the behavioral healthcare and recovery needs of communities.