Accendra Health (NYSE:ACH) Cut to Strong Sell at Zacks Research

Zacks Research downgraded shares of Accendra Health (NYSE:ACH) from a hold rating to a strong sell rating in a report released on Monday,Zacks reports.

Several other brokerages have also recently weighed in on ACH. UBS Group reduced their price objective on shares of Accendra Health from $4.50 to $1.50 and set a “neutral” rating on the stock in a research note on Thursday, August 13th. Robert W. Baird set a $1.50 target price on Accendra Health and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. Citigroup downgraded Accendra Health from a “buy” rating to a “neutral” rating and cut their target price for the stock from $4.50 to $1.50 in a report on Monday, August 10th. Finally, Weiss Ratings cut Accendra Health from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, August 6th. Three investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $1.50.

Accendra Health Trading Up 3.4%

NYSE:ACH opened at $0.48 on Monday. The stock’s 50 day simple moving average is $1.29. Accendra Health has a one year low of $0.44 and a one year high of $5.60. The firm has a market cap of $37.05 million, a P/E ratio of -0.12 and a beta of 1.57.

Accendra Health (NYSE:ACH) last posted its earnings results on Monday, August 10th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.06). The business had revenue of $613.23 million for the quarter. Accendra Health had a negative return on equity of 4.02% and a negative net margin of 11.41%. On average, equities analysts predict that Accendra Health will post -0.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Accendra Health

Large investors have recently modified their holdings of the company. Walleye Capital LLC bought a new stake in Accendra Health during the first quarter valued at $27,000. Hsbc Holdings PLC acquired a new position in Accendra Health in the first quarter valued at approximately $34,000. Corient Private Wealth LP bought a new position in shares of Accendra Health during the 2nd quarter worth approximately $40,000. Abel Hall LLC bought a new position in shares of Accendra Health during the 1st quarter worth approximately $44,000. Finally, Keybank National Association OH acquired a new stake in shares of Accendra Health during the 1st quarter worth approximately $46,000.

Accendra Health Company Profile

Accendra Health Inc is a nationwide provider of products, technology, and services that support health beyond the hospital by connecting patients, providers, and insurers. Through its brands, Apria and Byram Healthcare, the company delivers disposable medical supplies, integrated home healthcare equipment, and related services that help improve health outcomes and quality of life for individuals with chronic, complex, and acute health conditions. Its offerings span diabetes treatment, home respiratory therapy, and obstructive sleep apnea treatment, along with patient support services.