Acadia Healthcare falls after brokerages cut PT on stock

Shares of healthcare firm Acadia Healthcare ACHC.O fall 5.9% to $19.1

At least 4 brokerages, including Barclays, Stepehens, Deutsche Bank and UBS, cut PT on stock after co lowered its FY forecasts late Wednesday

Barclays cut its PT to $17 from $20, Stephens cut its PT to $23 from $28, DB cut its PT to $33 from $37 and UBS cut its PT to $28 from $31

ACHC forecast FY revenue in the range of $3.28 billion to $3.3 billion, compared to a previous range of $3.3 billion to $3.35 billion

Co also cut FY outlook for adjusted profit in the range of $2.35 to $2.45 per share, vs. prior expectation of $2.45 to $2.65 per share

Five out of 14 brokerages rate the stock "sell", 9 rate "buy" or higher and their median PT is $26.6 as per LSEG data

Including session's move, ACHC stock was down 51.6% YTD