Civitas Solutions Inc. (CIVI) Raised to “Hold” at Zacks Investment Research
Civitas Solutions Inc. (NYSE:CIVI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.
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. “
Several other analysts have also recently commented on the stock. Raymond James Financial Inc. cut shares of Civitas Solutions from an “outperform” rating to a “market perform” rating in a report on Thursday, August 11th. Citigroup Inc. cut shares of Civitas Solutions to a “market perform” rating in a report on Thursday, August 11th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Civitas Solutions currently has an average rating of “Buy” and an average price target of $28.14.
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Civitas Solutions (NYSE:CIVI) traded up 0.84% on Tuesday, reaching $18.01. 47,723 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $18.16 and a 200 day moving average of $19.64. The stock has a market capitalization of $668.73 million, a PE ratio of 61.89 and a beta of 0.45. Civitas Solutions has a 12 month low of $15.19 and a 12 month high of $30.23.
Civitas Solutions (NYSE:CIVI) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.20 by $0.07. The company had revenue of $354 million for the quarter, compared to analyst estimates of $357.48 million. Civitas Solutions had a return on equity of 10.98% and a net margin of 0.77%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.04 earnings per share. Equities analysts predict that Civitas Solutions will post $0.36 earnings per share for the current fiscal year.
In other news, insider Kathleen P. Federico sold 1,500 shares of Civitas Solutions stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $23.03, for a total value of $34,545.00. Following the transaction, the insider now owns 167,595 shares of the company’s stock, valued at $3,859,712.85. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Denis M. Holler sold 1,400 shares of Civitas Solutions stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $23.03, for a total transaction of $32,242.00. Following the completion of the transaction, the chief financial officer now directly owns 360,061 shares in the company, valued at approximately $8,292,204.83. The disclosure for this sale can be found here. 7.30% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in CIVI. BlackRock Group LTD raised its position in shares of Civitas Solutions by 77.7% in the second quarter. BlackRock Group LTD now owns 6,289 shares of the company’s stock worth $131,000 after buying an additional 2,750 shares during the period. BlackRock Advisors LLC raised its position in shares of Civitas Solutions by 9.9% in the second quarter. BlackRock Advisors LLC now owns 7,502 shares of the company’s stock worth $156,000 after buying an additional 677 shares during the period. American International Group Inc. raised its position in shares of Civitas Solutions by 26.9% in the second quarter. American International Group Inc. now owns 8,692 shares of the company’s stock worth $181,000 after buying an additional 1,840 shares during the period. Nationwide Fund Advisors raised its position in shares of Civitas Solutions by 32.4% in the second quarter. Nationwide Fund Advisors now owns 9,893 shares of the company’s stock worth $206,000 after buying an additional 2,419 shares during the period. Finally, A.R.T. Advisors LLC bought a new position in shares of Civitas Solutions during the second quarter worth about $209,000. 94.58% of the stock is currently owned by institutional investors.
Civitas Solutions Company Profile
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’s clinicians and caregivers develop customized service plans, delivered in non-institutional settings, designed to address a range of often life-long conditions.
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