Zacks Investment Research lowered shares of Civitas Solutions (NYSE:CIVI) from a hold rating to a sell rating in a report issued on Thursday morning.
According to Zacks, “Civitas Solutions, Inc. is a national network of local health and human services. It operates as a provider of an array of community-based services to adults and children with intellectual and developmental disabilities, brain and spinal cord injuries and other catastrophic injuries and illnesses, and to youth with emotional, behavioral and medically complex challenges, as well as their families. The Company serves governmental agencies, non-public payors, and not-for-profit organizations. Civitas Solutions, Inc. is based in Boston, Massachusetts. “
Other analysts have also issued reports about the company. SunTrust Banks set a $21.00 price objective on Civitas Solutions and gave the company a buy rating in a research note on Thursday, December 21st. Canaccord Genuity reiterated a buy rating and set a $27.00 price objective on shares of Civitas Solutions in a research note on Wednesday, December 13th. Bank of America decreased their price objective on Civitas Solutions from $23.00 to $19.00 and set a buy rating on the stock in a research note on Friday, February 9th. Raymond James Financial upgraded Civitas Solutions from a market perform rating to an outperform rating in a research note on Friday, February 2nd. Finally, Citigroup upgraded Civitas Solutions to an outperform rating and set a $21.00 price objective on the stock in a research note on Friday, February 2nd. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $20.00.
Civitas Solutions (NYSE:CIVI) opened at $12.70 on Thursday. The company has a debt-to-equity ratio of 3.99, a quick ratio of 1.26 and a current ratio of 1.26. Civitas Solutions has a 1 year low of $11.15 and a 1 year high of $19.95. The company has a market capitalization of $476.85, a price-to-earnings ratio of 40.97, a PEG ratio of 1.50 and a beta of 0.42.
Civitas Solutions (NYSE:CIVI) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.17. Civitas Solutions had a return on equity of 19.77% and a net margin of 0.76%. The company had revenue of $395.42 million for the quarter, compared to analyst estimates of $390.05 million. sell-side analysts forecast that Civitas Solutions will post 0.85 earnings per share for the current fiscal year.
Civitas Solutions announced that its board has initiated a share repurchase plan on Thursday, February 8th that authorizes the company to buyback $25.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.
In other Civitas Solutions news, CFO Denis M. Holler sold 12,238 shares of the company’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $19.75, for a total value of $241,700.50. Following the transaction, the chief financial officer now directly owns 277,502 shares in the company, valued at approximately $5,480,664.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Renzo Linda De sold 5,000 shares of the company’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $18.81, for a total value of $94,050.00. Following the completion of the transaction, the insider now owns 154,854 shares in the company, valued at $2,912,803.74. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,897 shares of company stock worth $505,619. 5.30% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in CIVI. MetLife Investment Advisors LLC bought a new position in Civitas Solutions in the 4th quarter worth about $110,000. Macquarie Group Ltd. bought a new position in Civitas Solutions in the 4th quarter worth about $112,000. Strs Ohio bought a new position in Civitas Solutions in the 3rd quarter worth about $127,000. Campbell & CO Investment Adviser LLC bought a new position in Civitas Solutions in the 3rd quarter worth about $197,000. Finally, Parametric Portfolio Associates LLC bought a new position in Civitas Solutions in the 2nd quarter worth about $211,000. Institutional investors and hedge funds own 93.90% of the company’s stock.
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About Civitas Solutions
Civitas Solutions, Inc is a provider of home- and community-based health and human services to individuals with intellectual, developmental, physical or behavioral disabilities and other special needs. The Company operates through two segments: Human Services and Post-Acute Specialty Rehabilitation Services (SRS).
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