Civitas Solutions Inc. (CIVI) Rating Increased 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 research note issued 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 research firms also recently issued reports on CIVI. Raymond James Financial Inc. downgraded shares of Civitas Solutions from an “outperform” rating to a “market perform” rating in a report on Thursday, August 11th. Citigroup Inc. downgraded 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 given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $28.14.
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Civitas Solutions (NYSE:CIVI) traded up 0.84% during mid-day trading on Tuesday, hitting $18.01. 47,723 shares of the stock were exchanged. The stock has a market cap of $668.73 million, a PE ratio of 61.89 and a beta of 0.45. The stock’s 50 day moving average is $18.16 and its 200 day moving average is $19.64. Civitas Solutions has a 52-week low of $15.19 and a 52-week high of $30.23.
Civitas Solutions (NYSE:CIVI) last released its quarterly earnings data on Tuesday, August 9th. The company reported $0.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by $0.07. The business earned $354 million during 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 firm’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.04 EPS. Analysts forecast that Civitas Solutions will post $0.36 EPS for the current fiscal year.
In other news, insider Kathleen P. Federico sold 1,500 shares of the firm’s stock in a transaction dated 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 directly 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 accessible through this link. Also, CFO Denis M. Holler sold 1,400 shares of the firm’s stock in a transaction dated Friday, July 22nd. The stock was 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 $8,292,204.83. The disclosure for this sale can be found here. 7.30% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the company. TimesSquare Capital Management LLC increased its position in Civitas Solutions by 5.1% in the second quarter. TimesSquare Capital Management LLC now owns 2,012,855 shares of the company’s stock valued at $41,928,000 after buying an additional 98,350 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its position in shares of Civitas Solutions by 7.3% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,631,925 shares of the company’s stock worth $33,993,000 after buying an additional 110,400 shares during the period. Cortina Asset Management LLC increased its position in shares of Civitas Solutions by 41.8% in the second quarter. Cortina Asset Management LLC now owns 903,587 shares of the company’s stock worth $18,822,000 after buying an additional 266,217 shares during the period. Vanguard Group Inc. increased its position in shares of Civitas Solutions by 2.6% in the second quarter. Vanguard Group Inc. now owns 634,952 shares of the company’s stock worth $13,226,000 after buying an additional 16,037 shares during the period. Finally, BlackRock Fund Advisors increased its position in shares of Civitas Solutions by 27.9% in the second quarter. BlackRock Fund Advisors now owns 394,562 shares of the company’s stock worth $8,219,000 after buying an additional 86,054 shares during the period. 94.58% of the stock is currently owned by hedge funds and other institutional investors.
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’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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