Acadia Healthcare (NASDAQ:ACHC) Announces Quarterly Earnings Results

Acadia Healthcare (NASDAQ:ACHC) released its earnings results on Wednesday. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04, Briefing.com reports. The company had revenue of $796.00 million for the quarter, compared to analysts’ expectations of $784.38 million. Acadia Healthcare had a positive return on equity of 11.49% and a negative net margin of 0.38%. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.92 EPS. Acadia Healthcare updated its FY24 guidance to $3.45-3.65 EPS and its FY 2024 guidance to 3.450-3.650 EPS.

Acadia Healthcare Stock Up 15.3 %

Shares of NASDAQ ACHC traded up $9.91 during trading hours on Thursday, hitting $74.76. The company had a trading volume of 2,291,140 shares, compared to its average volume of 772,310. The stock has a market capitalization of $6.94 billion, a P/E ratio of -525.18, a price-to-earnings-growth ratio of 2.01 and a beta of 1.31. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.63. Acadia Healthcare has a 1-year low of $62.04 and a 1-year high of $87.77. The firm’s 50 day moving average is $66.89 and its 200-day moving average is $73.92.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Barclays dropped their price target on shares of Acadia Healthcare from $89.00 to $83.00 and set an “overweight” rating on the stock in a research report on Thursday. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $90.00 target price on shares of Acadia Healthcare in a research report on Thursday. Bank of America dropped their target price on shares of Acadia Healthcare from $105.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. StockNews.com downgraded shares of Acadia Healthcare from a “hold” rating to a “sell” rating in a research note on Tuesday, May 21st. Finally, Mizuho reduced their target price on shares of Acadia Healthcare from $84.00 to $70.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $86.89.

About Acadia Healthcare

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.