Envestnet Asset Management Inc. Cuts Stake in Acadia Healthcare Company, Inc. (NASDAQ:ACHC)

Envestnet Asset Management Inc. cut its holdings in shares of Acadia Healthcare Company, Inc. (NASDAQ:ACHC) by 7.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 98,976 shares of the company’s stock after selling 7,784 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.11% of Acadia Healthcare worth $6,685,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. New York State Teachers Retirement System lifted its stake in Acadia Healthcare by 0.3% in the first quarter. New York State Teachers Retirement System now owns 76,054 shares of the company’s stock worth $6,025,000 after acquiring an additional 200 shares during the period. Blue Trust Inc. increased its holdings in shares of Acadia Healthcare by 86.1% during the second quarter. Blue Trust Inc. now owns 536 shares of the company’s stock valued at $36,000 after acquiring an additional 248 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in Acadia Healthcare by 3.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 7,595 shares of the company’s stock worth $513,000 after buying an additional 257 shares in the last quarter. Quent Capital LLC increased its holdings in Acadia Healthcare by 8.1% in the 1st quarter. Quent Capital LLC now owns 3,784 shares of the company’s stock worth $300,000 after buying an additional 284 shares in the last quarter. Finally, Retirement Systems of Alabama increased its holdings in Acadia Healthcare by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 115,799 shares of the company’s stock worth $9,174,000 after buying an additional 303 shares in the last quarter.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ACHC shares. Deutsche Bank Aktiengesellschaft raised their target price on Acadia Healthcare from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Royal Bank of Canada reissued an “outperform” rating and issued a $94.00 price target on shares of Acadia Healthcare in a report on Friday, September 20th. Barclays lowered their price target on Acadia Healthcare from $89.00 to $83.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $90.00 price objective on shares of Acadia Healthcare in a research note on Monday, August 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $87.44.

Acadia Healthcare Stock Down 16.4 %

Shares of NASDAQ:ACHC opened at $63.28 on Monday. The firm has a market cap of $5.87 billion, a price-to-earnings ratio of -452.00, a PEG ratio of 2.19 and a beta of 1.30. Acadia Healthcare Company, Inc. has a 12-month low of $53.22 and a 12-month high of $87.77. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.60. The stock’s 50-day moving average price is $74.23 and its two-hundred day moving average price is $71.62.

Acadia Healthcare (NASDAQ:ACHC) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. The firm had revenue of $796.00 million for the quarter, compared to the consensus estimate of $784.38 million. Acadia Healthcare had a negative net margin of 0.17% and a positive return on equity of 11.42%. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.92 EPS. On average, research analysts forecast that Acadia Healthcare Company, Inc. will post 3.51 EPS for the current year.

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.