Acadia Healthcare (NASDAQ:ACHC) Shares Down 2.9% – Here’s What Happened

Acadia Healthcare Company, Inc. (NASDAQ:ACHC) dropped 2.9% on Wednesday . The stock traded as low as $43.01 and last traded at $43.07. Approximately 515,229 shares were traded during trading, a decline of 74% from the average daily volume of 2,003,954 shares. The stock had previously closed at $44.37.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ACHC. Royal Bank of Canada reiterated an “outperform” rating and set a $64.00 target price on shares of Acadia Healthcare in a research report on Friday, January 10th. Barclays dropped their target price on shares of Acadia Healthcare from $76.00 to $43.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. StockNews.com downgraded shares of Acadia Healthcare from a “hold” rating to a “sell” rating in a report on Monday, January 6th. KeyCorp upgraded Acadia Healthcare from a “sector weight” rating to an “overweight” rating and set a $70.00 price objective for the company in a research report on Tuesday, January 7th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $52.00 price target on shares of Acadia Healthcare in a research report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Acadia Healthcare has an average rating of “Moderate Buy” and a consensus price target of $70.22.

Acadia Healthcare Price Performance

The stock has a market cap of $4.01 billion, a price-to-earnings ratio of 14.15, a PEG ratio of 1.77 and a beta of 1.29. The company has a 50 day simple moving average of $40.64 and a 200-day simple moving average of $57.57. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.60.

Acadia Healthcare (NASDAQ:ACHC) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.01. The firm had revenue of $815.60 million for the quarter, compared to analyst estimates of $819.42 million. Acadia Healthcare had a net margin of 8.99% and a return on equity of 11.12%. Acadia Healthcare’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.91 earnings per share. As a group, research analysts anticipate that Acadia Healthcare Company, Inc. will post 3.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Point72 Asset Management L.P. lifted its stake in shares of Acadia Healthcare by 266.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 2,270,340 shares of the company’s stock worth $153,339,000 after acquiring an additional 1,650,040 shares during the period. Wellington Management Group LLP grew its position in Acadia Healthcare by 12.2% in the third quarter. Wellington Management Group LLP now owns 11,658,253 shares of the company’s stock worth $739,250,000 after buying an additional 1,266,384 shares during the last quarter. Millennium Management LLC lifted its position in shares of Acadia Healthcare by 3,067.8% during the 2nd quarter. Millennium Management LLC now owns 1,090,313 shares of the company’s stock valued at $73,640,000 after acquiring an additional 1,055,894 shares during the last quarter. Holocene Advisors LP boosted its position in shares of Acadia Healthcare by 201.5% in the 3rd quarter. Holocene Advisors LP now owns 972,513 shares of the company’s stock valued at $61,667,000 after purchasing an additional 649,997 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Acadia Healthcare by 17.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,126,607 shares of the company’s stock worth $198,258,000 after purchasing an additional 454,044 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.