Acadia Healthcare (NASDAQ:ACHC) Issues Quarterly Earnings Results

Acadia Healthcare (NASDAQ:ACHC) released its quarterly earnings results on Wednesday. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.01, Briefing.com reports. Acadia Healthcare had a negative net margin of 0.17% and a positive return on equity of 11.42%. The business had revenue of $815.60 million for the quarter, compared to the consensus estimate of $819.42 million. During the same period last year, the firm earned $0.91 earnings per share. The company’s quarterly revenue was up 8.7% on a year-over-year basis. Acadia Healthcare updated its FY24 guidance to $3.35-$3.45 EPS and its FY 2024 guidance to 3.350-3.450 EPS.

Acadia Healthcare Price Performance

ACHC traded down $9.11 during trading hours on Thursday, hitting $42.97. The company’s stock had a trading volume of 3,947,755 shares, compared to its average volume of 965,249. The business’s 50-day moving average price is $67.15 and its 200-day moving average price is $68.18. Acadia Healthcare has a 12 month low of $42.56 and a 12 month high of $87.77. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of -312.36, a P/E/G ratio of 1.57 and a beta of 1.29. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.60.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Cantor Fitzgerald reiterated a “neutral” rating and issued a $90.00 price target on shares of Acadia Healthcare in a research report on Tuesday, October 1st. KeyCorp began coverage on shares of Acadia Healthcare in a research report on Friday, October 11th. They set a “sector weight” rating on the stock. 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. Barclays decreased their price objective on shares of Acadia Healthcare from $83.00 to $76.00 and set an “overweight” rating on the stock in a research report on Monday, September 30th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $94.00 price objective on shares of Acadia Healthcare in a research report on Friday, September 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Acadia Healthcare presently has a consensus rating of “Hold” and an average price target of $86.67.

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.