KeyCorp Initiates Coverage on Acadia Healthcare (NASDAQ:ACHC)

KeyCorp assumed coverage on shares of Acadia Healthcare (NASDAQ:ACHC) in a report released on Friday, Marketbeat reports. The firm set a “sector weight” rating on the stock. KeyCorp also issued estimates for Acadia Healthcare’s FY2024 earnings at $3.51 EPS, FY2025 earnings at $3.86 EPS and FY2026 earnings at $4.47 EPS.

Other equities analysts have also issued reports about the stock. Barclays decreased their price objective on shares of Acadia Healthcare from $83.00 to $76.00 and set an “overweight” rating for the company in a report on Monday, September 30th. Royal Bank of Canada restated an “outperform” rating and issued a $94.00 price target on shares of Acadia Healthcare in a research note on Friday, September 20th. Deutsche Bank Aktiengesellschaft increased their price objective on Acadia Healthcare from $70.00 to $75.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $90.00 target price on shares of Acadia Healthcare in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $86.67.

Acadia Healthcare Trading Down 1.2 %

NASDAQ ACHC opened at $54.82 on Friday. Acadia Healthcare has a 12 month low of $53.22 and a 12 month high of $87.77. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.60. The stock’s fifty day moving average price is $72.20 and its 200-day moving average price is $70.25. The stock has a market cap of $5.09 billion, a P/E ratio of -391.57, a P/E/G ratio of 1.57 and a beta of 1.29.

Acadia Healthcare (NASDAQ:ACHC) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. The company had revenue of $796.00 million for the quarter, compared to the consensus estimate of $784.38 million. Acadia Healthcare had a negative net margin of 0.17% and a positive return on equity of 11.42%. Acadia Healthcare’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.92 EPS. As a group, equities analysts forecast that Acadia Healthcare will post 3.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Acadia Healthcare

A number of large investors have recently made changes to their positions in the company. Point72 Asset Management L.P. boosted its holdings in shares of Acadia Healthcare by 266.0% in the second quarter. Point72 Asset Management L.P. now owns 2,270,340 shares of the company’s stock worth $153,339,000 after buying an additional 1,650,040 shares during the last quarter. Millennium Management LLC raised its position in Acadia Healthcare by 3,067.8% in the second quarter. Millennium Management LLC now owns 1,090,313 shares of the company’s stock worth $73,640,000 after acquiring an additional 1,055,894 shares during the period. William Blair Investment Management LLC boosted its stake in shares of Acadia Healthcare by 20.7% during the 2nd quarter. William Blair Investment Management LLC now owns 3,515,464 shares of the company’s stock worth $237,434,000 after acquiring an additional 604,070 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its position in shares of Acadia Healthcare by 67.9% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 733,505 shares of the company’s stock valued at $49,541,000 after acquiring an additional 296,625 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of Acadia Healthcare by 59.3% in the 1st quarter. Principal Financial Group Inc. now owns 539,162 shares of the company’s stock worth $42,712,000 after purchasing an additional 200,765 shares in the last quarter.

Acadia Healthcare Company Profile

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.