KeyCorp Begins Coverage on Acadia Healthcare (NASDAQ:ACHC)

KeyCorp assumed coverage on shares of Acadia Healthcare (NASDAQ:ACHC) in a report released on Friday, MarketBeat.com reports. The firm issued 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.

Several other brokerages have also recently issued reports on ACHC. Royal Bank of Canada restated an outperform rating and issued a $94.00 target price on shares of Acadia Healthcare in a report on Friday, September 20th. Barclays lowered their price target on shares of Acadia Healthcare from $83.00 to $76.00 and set an overweight rating on the stock in a report on Monday, September 30th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of 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 reaffirmed a neutral rating and issued a $90.00 target price on shares of Acadia Healthcare in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $86.67.

Acadia Healthcare Stock Performance

Shares of Acadia Healthcare stock opened at $54.82 on Friday. The stock has a market cap of $5.09 billion, a price-to-earnings ratio of -685.16, a PEG ratio of 1.57 and a beta of 1.29. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.18 and a quick ratio of 1.18. Acadia Healthcare has a 1 year low of $53.22 and a 1 year high of $87.77. The firm’s 50-day moving average is $72.20 and its 200 day moving average is $70.30.

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

Hedge Funds Weigh In On Acadia Healthcare

Several hedge funds have recently added to or reduced their stakes in ACHC. Blue Trust Inc. boosted its holdings in Acadia Healthcare by 86.1% during the 2nd quarter. Blue Trust Inc. now owns 536 shares of the company’s stock valued at $36,000 after acquiring an additional 248 shares during the period. GAMMA Investing LLC lifted its position in shares of Acadia Healthcare by 57.1% in the 3rd quarter. GAMMA Investing LLC now owns 663 shares of the company’s stock worth $42,000 after purchasing an additional 241 shares during the period. Mather Group LLC. purchased a new position in Acadia Healthcare during the first quarter valued at approximately $48,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Acadia Healthcare during the second quarter worth $59,000. Finally, nVerses Capital LLC bought a new stake in Acadia Healthcare during the 2nd quarter valued at $95,000.

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.