NEW YORK (TheStreet) -- Shares of Acadia Healthcare Company Inc. (ACHC) are higher by 14.47% to $48.12 Tuesday on heavy trading volume.
The company announced today that it reached an agreement to purchase Partnerships in Care for $660 million.
Acadia, a provider of inpatient behavioral healthcare services, said it expects the transaction to add to its 2014 earnings by approximately 17 cents to 20 cents per diluted share.
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Partners in Care is the second largest provider of inpatient behavioral healthcare services in the U.K.
Separately, TheStreet Ratings team rates ACADIA HEALTHCARE CO INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate ACADIA HEALTHCARE CO INC (ACHC) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth, compelling growth in net income, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value."