Cantor Fitzgerald Keeps a Buy Rating on AAC Holdings

By Austin Angelo

In a report released yesterday, Joseph France from Cantor Fitzgerald reiterated a Buy rating on AAC Holdings (NYSE: AAC), with a price target of $14. The company’s shares closed yesterday at $11.65.

France commented:

“Significant acquisition. AAC is acquiring AdCare, Inc., a leading addiction treatment provider in New England that has more than 6,000 hospital and residential admissions and over 115,000 outpatient visits per year. The company’s facilities include a 114-bed substance abuse hospital and five outpatient centers in Massachusetts and a 52-bed residential treatment center and two outpatient centers in Rhode Island.”

According to TipRanks.com, France is a 5-star analyst with an average return of 12.1% and a 59.3% success rate. France covers the Services sector, focusing on stocks such as Cross Country Healthcare, Five Star Quality Care, and WellCare Health Plans.

AAC Holdings has an analyst consensus of Moderate Buy, with a price target consensus of $11.

Based on AAC Holdings’ latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $78.04 million and GAAP net loss of $1.92 million. In comparison, last year the company earned revenue of $71.54 million and had a net profit of $872K.

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AAC Holdings, Inc. engages in the provision of rehabilitation operation. It offers inpatient substance abuse treatment services among individual with drugs and alcohol addiction. It provides detoxification, residential treatment, partial hospitalization and intensive outpatient care.