AAC (AAC) Upgraded to Sell at ValuEngine

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AAC (NYSE:AAC) was upgraded by research analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research note issued to investors on Tuesday, November 13th.

Several other analysts have also issued reports on the company. Zacks Investment Research lowered AAC from a “buy” rating to a “hold” rating in a research note on Friday, October 5th. Cantor Fitzgerald lowered AAC from an “overweight” rating to a “neutral” rating and set a $4.00 target price for the company. in a research note on Wednesday, November 7th. Finally, Raymond James cut their target price on AAC from $14.00 to $12.00 and set an “outperform” rating for the company in a research note on Tuesday, October 16th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company’s stock. AAC currently has a consensus rating of “Hold” and an average target price of $7.92.

Shares of AAC traded down $0.08 during midday trading on Tuesday, hitting $2.03. 1,070,031 shares of the company traded hands, compared to its average volume of 223,083. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 2.58. The stock has a market cap of $51.91 million, a PE ratio of 3.38 and a beta of 1.42. AAC has a one year low of $1.70 and a one year high of $12.96.

AAC (NYSE:AAC) last posted its quarterly earnings data on Tuesday, November 6th. The company reported ($0.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.32). The company had revenue of $77.47 million during the quarter, compared to the consensus estimate of $84.21 million. AAC had a positive return on equity of 4.21% and a negative net margin of 10.20%. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter last year, the company posted $0.12 earnings per share. Analysts expect that AAC will post 0.2 earnings per share for the current fiscal year.

In other AAC news, insider Michael Nanko purchased 21,000 shares of the company’s stock in a transaction that occurred on Friday, November 30th. The stock was bought at an average price of $2.18 per share, with a total value of $45,780.00. Following the completion of the purchase, the insider now directly owns 69,700 shares of the company’s stock, valued at approximately $151,946. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Darrell S. Freeman purchased 25,000 shares of the company’s stock in a transaction that occurred on Thursday, November 29th. The stock was acquired at an average cost of $2.19 per share, with a total value of $54,750.00. The disclosure for this purchase can be found here. Corporate insiders own 37.30% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. The Manufacturers Life Insurance Company raised its holdings in AAC by 234.9% in the first quarter. The Manufacturers Life Insurance Company now owns 10,724 shares of the company’s stock worth $123,000 after purchasing an additional 7,522 shares in the last quarter. Woodmont Investment Counsel LLC bought a new position in AAC in the third quarter worth $353,000. Dimensional Fund Advisors LP raised its holdings in AAC by 59.5% in the first quarter. Dimensional Fund Advisors LP now owns 51,884 shares of the company’s stock worth $596,000 after purchasing an additional 19,359 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in AAC by 189.9% in the first quarter. JPMorgan Chase & Co. now owns 61,616 shares of the company’s stock worth $707,000 after purchasing an additional 40,360 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in AAC by 128.1% in the second quarter. Acadian Asset Management LLC now owns 64,270 shares of the company’s stock worth $602,000 after purchasing an additional 36,090 shares in the last quarter. Institutional investors and hedge funds own 66.22% of the company’s stock.

About AAC

AAC Holdings, Inc provides inpatient and outpatient substance use treatment services for individuals with drug addiction, alcohol addiction, and co-occurring mental/behavioral health issues in the United States. Its therapy services include motivational interviewing, cognitive behavioral therapy, rational emotive behavior therapy, dialectical behavioral therapy, solution-focused therapy, eye movement desensitization and reprocessing, and systematic family intervention.

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