Acadia Healthcare (NASDAQ:ACHC) Price Target Cut to $90.00 by Analysts at Bank of America

Acadia Healthcare (NASDAQ:ACHC) had its price target reduced by stock analysts at Bank of America from $105.00 to $90.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price objective points to a potential upside of 36.12% from the company’s previous close.

Other research analysts have also issued reports about the company. TheStreet upgraded Acadia Healthcare from a “c” rating to a “b-” rating in a research note on Monday, March 4th. Mizuho raised their price objective on shares of Acadia Healthcare from $77.00 to $84.00 and gave the stock a “neutral” rating in a report on Wednesday, March 6th. Stephens raised shares of Acadia Healthcare from an “equal weight” rating to an “overweight” rating and set a $92.00 target price on the stock in a research note on Friday, January 5th. Royal Bank of Canada restated an “outperform” rating and set a $94.00 price target on shares of Acadia Healthcare in a research note on Monday, March 4th. Finally, Barclays lowered their price objective on Acadia Healthcare from $100.00 to $91.00 and set an “overweight” rating on the stock in a research note on Thursday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $89.50.

Acadia Healthcare Stock Performance

Shares of NASDAQ ACHC opened at $66.12 on Thursday. Acadia Healthcare has a 12 month low of $64.74 and a 12 month high of $87.77. The business’s 50 day moving average is $77.13 and its two-hundred day moving average is $77.61. The company has a market cap of $6.11 billion, a P/E ratio of -472.29, a P/E/G ratio of 2.15 and a beta of 1.31. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.48.

Acadia Healthcare (NASDAQ:ACHC) last released its earnings results on Wednesday, May 1st. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.04. The business had revenue of $768.10 million for the quarter, compared to the consensus estimate of $779.20 million. Acadia Healthcare had a positive return on equity of 11.56% and a negative net margin of 0.38%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the business earned $0.75 earnings per share. On average, equities analysts expect that Acadia Healthcare will post 3.57 EPS for the current year.

Insider Activity

In related news, Director Wade D. Miquelon sold 2,203 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $85.39, for a total transaction of $188,114.17. Following the completion of the sale, the director now directly owns 46,074 shares of the company’s stock, valued at approximately $3,934,258.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fifth Third Bancorp raised its stake in shares of Acadia Healthcare by 25.5% in the fourth quarter. Fifth Third Bancorp now owns 670 shares of the company’s stock worth $52,000 after acquiring an additional 136 shares during the last quarter. Estate Counselors LLC increased its holdings in shares of Acadia Healthcare by 0.9% in the third quarter. Estate Counselors LLC now owns 16,410 shares of the company’s stock valued at $1,154,000 after purchasing an additional 145 shares in the last quarter. Tranquility Partners LLC raised its position in Acadia Healthcare by 5.3% in the 4th quarter. Tranquility Partners LLC now owns 3,395 shares of the company’s stock worth $264,000 after purchasing an additional 170 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in Acadia Healthcare by 1.3% during the 3rd quarter. Mackenzie Financial Corp now owns 15,737 shares of the company’s stock worth $1,063,000 after buying an additional 199 shares in the last quarter. Finally, New York State Teachers Retirement System boosted its position in Acadia Healthcare by 0.3% in the 1st quarter. New York State Teachers Retirement System now owns 76,054 shares of the company’s stock valued at $6,025,000 after buying an additional 200 shares during the last quarter.

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.