Virginia Retirement Systems ET AL acquired a new stake in Civitas Solutions (NYSE:CIVI) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 24,100 shares of the company’s stock, valued at approximately $371,000. Virginia Retirement Systems ET AL owned about 0.06% of Civitas Solutions at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the business. Mackay Shields LLC acquired a new position in shares of Civitas Solutions in the 1st quarter valued at $333,000. Monarch Partners Asset Management LLC boosted its holdings in shares of Civitas Solutions by 20.5% in the 1st quarter. Monarch Partners Asset Management LLC now owns 26,260 shares of the company’s stock valued at $404,000 after buying an additional 4,470 shares in the last quarter. MetLife Investment Advisors LLC acquired a new position in shares of Civitas Solutions in the 4th quarter valued at $110,000. Macquarie Group Ltd. acquired a new position in shares of Civitas Solutions in the 4th quarter valued at $112,000. Finally, Stone Ridge Asset Management LLC acquired a new position in shares of Civitas Solutions in the 4th quarter valued at $368,000. 94.78% of the stock is currently owned by institutional investors.
Several research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Civitas Solutions from a “strong sell” rating to a “hold” rating in a report on Thursday, February 8th. Raymond James upgraded shares of Civitas Solutions from a “market perform” rating to an “outperform” rating in a report on Friday, February 2nd. Citigroup upgraded shares of Civitas Solutions to an “outperform” rating and set a $21.00 target price for the company in a report on Friday, February 2nd. They noted that the move was a valuation call. ValuEngine cut shares of Civitas Solutions from a “hold” rating to a “sell” rating in a report on Thursday, April 12th. Finally, Canaccord Genuity decreased their price target on shares of Civitas Solutions from $27.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, February 9th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. Civitas Solutions presently has an average rating of “Hold” and a consensus price target of $20.00.
Shares of NYSE:CIVI opened at $15.40 on Friday. The firm has a market cap of $564.76 million, a P/E ratio of 14.39, a price-to-earnings-growth ratio of 1.35 and a beta of 0.57. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 4.11. Civitas Solutions has a 1-year low of $11.15 and a 1-year high of $19.90.
Civitas Solutions (NYSE:CIVI) last issued its quarterly earnings results on Thursday, May 10th. The company reported $0.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.24. The firm had revenue of $392.80 million during the quarter, compared to analysts’ expectations of $397.00 million. Civitas Solutions had a net margin of 0.23% and a return on equity of 23.72%. Civitas Solutions’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.15 EPS. research analysts expect that Civitas Solutions will post 1.14 earnings per share for the current fiscal year.
Civitas Solutions announced that its Board of Directors has authorized a share buyback program on Thursday, February 8th that allows the company to buyback $25.00 million in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
About Civitas Solutions
Civitas Solutions, Inc provides home- and community-based health and human services to must-serve individuals with intellectual, developmental, behavioral, and/or medically complex disabilities and challenges in the United States. It operates through Intellectual and Developmental Disabilities (I/DD), Post-Acute Specialty Rehabilitation Services (SRS), and At-Risk Youth (ARY) segments.
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