Acadia Healthcare (NASDAQ:ACHC) Posts Quarterly Earnings Results

Acadia Healthcare (NASDAQ:ACHC) released its quarterly earnings data on Wednesday. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.80 by $0.04, Briefing.com reports. Acadia Healthcare had a negative net margin of 0.74% and a positive return on equity of 11.21%. The business had revenue of $768.10 million for the quarter, compared to analyst estimates of $779.20 million. During the same period in the previous year, the firm earned $0.75 EPS. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. Acadia Healthcare updated its FY24 guidance to $3.40-3.70 EPS and its FY 2024 guidance to 3.400-3.700 EPS.

Acadia Healthcare Price Performance

Shares of ACHC stock traded down $3.89 on Thursday, reaching $69.10. The company’s stock had a trading volume of 542,720 shares, compared to its average volume of 569,677. The stock’s 50 day simple moving average is $77.49 and its 200-day simple moving average is $77.68. Acadia Healthcare has a 12-month low of $66.49 and a 12-month high of $87.77. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $6.39 billion, a P/E ratio of -273.23, a PEG ratio of 2.18 and a beta of 1.31.

Analyst Ratings Changes

ACHC has been the topic of a number of recent research reports. Barclays reduced their target price on shares of Acadia Healthcare from $100.00 to $91.00 and set an “overweight” rating on the stock in a report on Thursday. Deutsche Bank Aktiengesellschaft upgraded Acadia Healthcare from a “sell” rating to a “hold” rating and set a $70.00 price target for the company in a report on Thursday, April 25th. Cantor Fitzgerald reiterated a “neutral” rating and set a $90.00 target price on shares of Acadia Healthcare in a research note on Tuesday, March 5th. Mizuho increased their target price on Acadia Healthcare from $77.00 to $84.00 and gave the company a “neutral” rating in a research note on Wednesday, March 6th. Finally, TheStreet upgraded Acadia Healthcare from a “c” rating to a “b-” rating in a research note on Monday, March 4th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Acadia Healthcare has an average rating of “Moderate Buy” and a consensus target price of $91.00.

Insider Activity

In related news, Director Wade D. Miquelon sold 2,203 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $85.39, for a total value of $188,114.17. Following the completion of 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 document filed with the SEC, which is available through this hyperlink. Insiders own 2.00% of the company’s stock.

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.