Mizuho Securities Downgrades AAC Holdings (AAC) to Neutral

November 4, 2016 6:24 AM EDT
Get Alerts AAC Hot Sheet
Price: $8.09 --0%

Rating Summary:
    2 Buy, 0 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 29 | Down: 29 | New: 6
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Mizuho Securities downgraded AAC Holdings (NYSE: AAC) from Outperform to Neutral with a price target of $14.00 (from $26.00) following weak guidance.

Analyst Ann Hynes commented, "We are downgrading AAC to Neutral from Buy given this morning's guidance reduction which, at that midpoint, is a ~10% reduction in adjusted EBITDA and ~16% reduction in adjusted EPS. We no longer think this stock supports a premium valuation multiple so our new price target is 11x EV/EBITDA versus 13x previously."

For an analyst ratings summary and ratings history on AAC Holdings click here. For more ratings news on AAC Holdings click here.

Shares of AAC Holdings closed at $7.80 yesterday.

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