AAC (NYSE:AAC) issued its quarterly earnings data on Tuesday. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.32), MarketWatch Earnings reports. AAC had a negative net margin of 6.41% and a positive return on equity of 7.32%. The firm had revenue of $77.47 million during the quarter, compared to analyst estimates of $84.21 million. During the same period last year, the business earned $0.12 EPS. The firm’s revenue was down 3.7% compared to the same quarter last year. AAC updated its FY18 guidance to ($0.15-0.10) EPS and its FY 2018 guidance to $-0.15–0.1 EPS.
AAC stock opened at $2.96 on Wednesday. The company has a market cap of $141.43 million, a PE ratio of 4.93 and a beta of 1.60. The company has a debt-to-equity ratio of 2.34, a current ratio of 2.59 and a quick ratio of 2.59. AAC has a 52 week low of $2.80 and a 52 week high of $12.96.
Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of AAC by 14.3% during the 2nd quarter. BlackRock Inc. now owns 777,117 shares of the company’s stock valued at $7,282,000 after buying an additional 97,361 shares during the last quarter. Mondrian Investment Partners LTD boosted its stake in shares of AAC by 22.0% during the 3rd quarter. Mondrian Investment Partners LTD now owns 525,786 shares of the company’s stock valued at $4,012,000 after buying an additional 94,649 shares during the last quarter. Apollo Management Holdings L.P. boosted its stake in shares of AAC by 102.9% during the 2nd quarter. Apollo Management Holdings L.P. now owns 466,685 shares of the company’s stock valued at $4,373,000 after buying an additional 236,652 shares during the last quarter. Millennium Management LLC boosted its stake in shares of AAC by 43.1% during the 1st quarter. Millennium Management LLC now owns 399,477 shares of the company’s stock valued at $4,586,000 after buying an additional 120,373 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of AAC by 2.2% during the 2nd quarter. Bank of America Corp DE now owns 332,301 shares of the company’s stock valued at $3,113,000 after buying an additional 7,107 shares during the last quarter. Institutional investors own 61.96% of the company’s stock.
AAC has been the subject of several recent research reports. Zacks Investment Research downgraded shares of AAC from a “buy” rating to a “hold” rating in a research report on Friday, October 5th. ValuEngine downgraded shares of AAC from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 30th. Raymond James lowered their price objective on shares of AAC from $14.00 to $12.00 and set an “outperform” rating for the company in a research report on Tuesday, October 16th. Finally, Cantor Fitzgerald downgraded shares of AAC from an “overweight” rating to a “neutral” rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $11.25.
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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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