Accendra Health (NYSE:ACH) Stock Dropped to Strong Sell by Zacks Research

Zacks Research cut shares of Accendra Health (NYSE:ACH) from a hold rating to a strong sell rating in a research report report published on Monday,Zacks reports.

A number of other research firms have also commented on ACH. Weiss Ratings lowered shares of Accendra Health from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, August 6th. Robert W. Baird set a $1.50 price objective on shares of Accendra Health and gave the company a “neutral” rating in a research report on Tuesday, August 11th. Citigroup downgraded shares of Accendra Health from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $4.50 to $1.50 in a research note on Monday, August 10th. Finally, UBS Group lowered their price target on Accendra Health from $4.50 to $1.50 and set a “neutral” rating for the company in a research report on Thursday, August 13th. Three analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $1.50.

Accendra Health Stock Up 2.6%

Shares of Accendra Health stock opened at $0.46 on Monday. Accendra Health has a one year low of $0.44 and a one year high of $5.60. The stock has a 50 day moving average of $1.35. The stock has a market cap of $35.58 million, a PE ratio of -0.12 and a beta of 1.57.

Accendra Health (NYSE:ACH) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.06). Accendra Health had a negative net margin of 11.41% and a negative return on equity of 4.02%. The company had revenue of $613.23 million for the quarter. As a group, sell-side analysts forecast that Accendra Health will post -0.03 earnings per share for the current year.

Institutional Investors Weigh In On Accendra Health

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACH. Corient Private Wealth LP purchased a new stake in shares of Accendra Health during the second quarter worth about $40,000. Public Employees Retirement System of Ohio purchased a new position in shares of Accendra Health in the second quarter valued at $96,000. Bank of America Corp DE bought a new stake in shares of Accendra Health in the 2nd quarter worth about $12,912,000. Man Group plc bought a new stake in shares of Accendra Health in the 2nd quarter valued at approximately $436,000. Finally, The Manufacturers Life Insurance Company bought a new position in Accendra Health during the second quarter valued at $68,000.

About Accendra Health

Accendra Health Inc is a nationwide provider of products, technology, and services that support health beyond the hospital by connecting patients, providers, and insurers. Through its brands, Apria and Byram Healthcare, the company delivers disposable medical supplies, integrated home healthcare equipment, and related services that help improve health outcomes and quality of life for individuals with chronic, complex, and acute health conditions. Its offerings span diabetes treatment, home respiratory therapy, and obstructive sleep apnea treatment, along with patient support services.