Acadia Healthcare (NASDAQ:ACHC) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Acadia Healthcare (NASDAQ:ACHC) announced its quarterly earnings data on Wednesday. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.04, Briefing.com reports. The firm had revenue of $768.10 million during the quarter, compared to the consensus estimate of $779.20 million. Acadia Healthcare had a positive return on equity of 11.56% and a negative net margin of 0.38%. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.75 EPS. 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 Stock Down 0.9 %

ACHC traded down $0.61 on Friday, hitting $66.12. 1,181,258 shares of the company were exchanged, compared to its average volume of 604,466. Acadia Healthcare has a 12 month low of $64.74 and a 12 month high of $87.77. The company has a market cap of $6.11 billion, a PE ratio of -467.57, a PEG ratio of 2.15 and a beta of 1.31. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.67 and a current ratio of 0.67. The stock’s fifty day moving average is $77.13 and its 200-day moving average is $77.61.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ACHC. TheStreet raised Acadia Healthcare from a “c” rating to a “b-” rating in a research report on Monday, March 4th. Cantor Fitzgerald restated a “neutral” rating and set a $90.00 target price on shares of Acadia Healthcare in a research report on Tuesday, March 5th. Mizuho dropped their price target on Acadia Healthcare from $84.00 to $70.00 and set a “neutral” rating for the company in a report on Friday. UBS Group lifted their target price on Acadia Healthcare from $88.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Finally, Deutsche Bank Aktiengesellschaft raised Acadia Healthcare from a “sell” rating to a “hold” rating and set a $70.00 price objective for the company in a research note on Thursday, April 25th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $89.50.

Insider Buying and Selling

In related news, Director Wade D. Miquelon sold 2,203 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $85.39, for a total transaction of $188,114.17. Following the sale, the director now owns 46,074 shares in the company, valued at $3,934,258.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

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.