Bank of America Lowers Acadia Healthcare (NASDAQ:ACHC) Price Target to $90.00

Acadia Healthcare (NASDAQ:ACHC) had its price target trimmed by Bank of America from $105.00 to $90.00 in a research note released on Thursday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other analysts have also commented on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Acadia Healthcare from a sell rating to a hold rating and set a $70.00 price target on the stock in a research report on Thursday, April 25th. Mizuho lifted their price target on Acadia Healthcare from $77.00 to $84.00 and gave the company a neutral rating in a research note on Wednesday, March 6th. Barclays lowered their price target on Acadia Healthcare from $100.00 to $91.00 and set an overweight rating on the stock in a research report on Thursday. TD Cowen upped their target price on Acadia Healthcare from $86.00 to $101.00 and gave the stock an outperform rating in a research note on Friday, March 1st. Finally, Royal Bank of Canada reissued an outperform rating and issued a $94.00 price target on shares of Acadia Healthcare in a research note on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $88.89.

Acadia Healthcare Stock Performance

NASDAQ ACHC opened at $66.12 on Thursday. Acadia Healthcare has a fifty-two week low of $64.74 and a fifty-two week high of $87.77. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.67 and a current ratio of 1.27. The firm has a market capitalization of $6.11 billion, a P/E ratio of -472.25, a PEG ratio of 1.95 and a beta of 1.31. The stock has a 50-day simple moving average of $76.77 and a two-hundred day simple moving average of $77.52.

Acadia Healthcare (NASDAQ:ACHC) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.04. Acadia Healthcare had a positive return on equity of 11.49% and a negative net margin of 0.38%. The company had revenue of $768.10 million during the quarter, compared to analysts’ expectations of $779.20 million. During the same period last year, the business earned $0.75 earnings per share. Acadia Healthcare’s quarterly revenue was up 9.1% on a year-over-year basis. On average, equities analysts forecast that Acadia Healthcare will post 3.56 earnings per share for the current year.

Insider Transactions at Acadia Healthcare

In other news, Director Wade D. Miquelon sold 2,203 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 46,074 shares in the company, valued at approximately $3,934,258.86. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

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

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.