Bank of America Cuts Civitas Solutions (CIVI) Price Target to $19.00

Civitas Solutions (NYSE:CIVI) had its target price reduced by investment analysts at Bank of America from $23.00 to $19.00 in a research report issued on Friday. The firm presently has a “buy” rating on the stock. Bank of America’s price objective suggests a potential upside of 67.40% from the stock’s previous close.

Several other equities analysts also recently weighed in on CIVI. BidaskClub downgraded Civitas Solutions from a “hold” rating to a “sell” rating in a research report on Thursday, October 12th. Canaccord Genuity lifted their price objective on Civitas Solutions from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday, October 26th. Zacks Investment Research downgraded Civitas Solutions from a “hold” rating to a “sell” rating in a research report on Thursday, December 14th. SunTrust Banks set a $21.00 price objective on Civitas Solutions and gave the stock a “buy” rating in a research report on Thursday, December 21st. Finally, Citigroup upgraded Civitas Solutions to an “outperform” rating and set a $21.00 price objective on the stock in a research report on Friday, February 2nd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. Civitas Solutions presently has an average rating of “Buy” and a consensus price target of $20.00.

Civitas Solutions (CIVI) traded down $3.45 during midday trading on Friday, hitting $11.35. The stock had a trading volume of 1,019,120 shares, compared to its average volume of 130,819. The stock has a market capitalization of $580.10, a P/E ratio of 66.76, a PEG ratio of 1.89 and a beta of 0.42. Civitas Solutions has a 1-year low of $11.15 and a 1-year high of $19.95. The company has a debt-to-equity ratio of 3.83, a quick ratio of 1.19 and a current ratio of 1.19.

Civitas Solutions (NYSE:CIVI) last released its earnings results on Tuesday, December 12th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.02. Civitas Solutions had a return on equity of 16.25% and a net margin of 0.43%. research analysts forecast that Civitas Solutions will post 0.82 EPS for the current fiscal year.

Civitas Solutions declared that its Board of Directors has approved a share buyback program on Thursday, February 8th that authorizes the company to buyback $25.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback programs are typically 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 Civitas Solutions stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $19.75, for a total value of $241,700.50. Following the sale, the chief financial officer now owns 277,502 shares in the company, valued at $5,480,664.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Denis M. Holler sold 7,148 shares of Civitas Solutions stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $19.63, for a total value of $140,315.24. Following the completion of the sale, the chief financial officer now owns 287,762 shares in the company, valued at approximately $5,648,768.06. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,197 shares of company stock worth $586,236. 5.30% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. raised its position in Civitas Solutions by 0.9% in the fourth quarter. BlackRock Inc. now owns 907,853 shares of the company’s stock valued at $15,525,000 after purchasing an additional 8,209 shares during the period. Vanguard Group Inc. raised its position in Civitas Solutions by 1.0% in the second quarter. Vanguard Group Inc. now owns 719,953 shares of the company’s stock valued at $12,600,000 after purchasing an additional 7,218 shares during the period. State Street Corp raised its position in Civitas Solutions by 14.3% in the second quarter. State Street Corp now owns 270,368 shares of the company’s stock valued at $4,738,000 after purchasing an additional 33,779 shares during the period. Northern Trust Corp raised its position in Civitas Solutions by 19.2% in the second quarter. Northern Trust Corp now owns 243,499 shares of the company’s stock valued at $4,261,000 after purchasing an additional 39,301 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in Civitas Solutions by 35.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 240,705 shares of the company’s stock valued at $4,116,000 after purchasing an additional 62,590 shares during the period. Institutional investors own 93.85% of the company’s stock.

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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 operates through two segments: Human Services and Post-Acute Specialty Rehabilitation Services (SRS).

Analyst Recommendations for Civitas Solutions (NYSE:CIVI)

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