Civitas Solutions (CIVI) Price Target Cut to $19.00

Civitas Solutions (NYSE:CIVI) had its price objective reduced by research analysts at Canaccord Genuity from $27.00 to $19.00 in a research note issued to investors on Friday. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity’s price target suggests a potential upside of 59.66% from the company’s current price.

A number of other equities research analysts have also issued reports on CIVI. Zacks Investment Research upgraded Civitas Solutions from a “strong sell” rating to a “hold” rating in a research note on Thursday. Raymond James Financial upgraded Civitas Solutions from a “market perform” rating to an “outperform” rating in a research note on Friday, February 2nd. Citigroup upgraded Civitas Solutions to an “outperform” rating and set a $21.00 target price for the company in a research note on Friday, February 2nd. They noted that the move was a valuation call. BidaskClub lowered Civitas Solutions from a “hold” rating to a “sell” rating in a research note on Thursday, October 12th. Finally, SunTrust Banks set a $21.00 target price on Civitas Solutions and gave the company a “buy” rating in a research note on Thursday, December 21st. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $20.00.

Shares of Civitas Solutions (CIVI) traded up $0.55 during trading hours on Friday, reaching $11.90. The company’s stock had a trading volume of 97,002 shares, compared to its average volume of 126,811. The firm has a market capitalization of $426.16, a price-to-earnings ratio of 38.39, a PEG ratio of 1.39 and a beta of 0.42. The company has a debt-to-equity ratio of 3.99, a current ratio of 1.26 and a quick ratio of 1.26. Civitas Solutions has a 12 month low of $11.15 and a 12 month high of $19.95.

Civitas Solutions (NYSE:CIVI) last posted its earnings results on Tuesday, December 12th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. Civitas Solutions had a return on equity of 19.77% and a net margin of 0.76%. research analysts predict that Civitas Solutions will post 0.82 EPS for the current year.

Civitas Solutions announced that its board has initiated a share repurchase plan on Thursday, February 8th that authorizes the company to repurchase $25.00 million in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

In related news, insider Renzo Linda De sold 5,000 shares of the 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 of the company’s stock, valued at $2,912,803.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Denis M. Holler sold 12,238 shares of the stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $19.75, for a total value of $241,700.50. Following the completion of the transaction, the chief financial officer now directly owns 277,502 shares of the company’s stock, valued at approximately $5,480,664.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,042 shares of company stock valued at $508,330. Insiders own 4.76% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Strs Ohio bought a new position in Civitas Solutions during the 3rd quarter worth approximately $127,000. Campbell & CO Investment Adviser LLC bought a new position in Civitas Solutions during the 3rd quarter worth approximately $197,000. Parametric Portfolio Associates LLC bought a new position in Civitas Solutions during the 2nd quarter worth approximately $211,000. First Trust Advisors LP bought a new position in Civitas Solutions during the 3rd quarter worth approximately $223,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in Civitas Solutions by 4.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,822 shares of the company’s stock worth $242,000 after buying an additional 630 shares during the last quarter. 93.90% of the stock is owned by hedge funds and other institutional investors.

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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).

Analyst Recommendations for Civitas Solutions (NYSE:CIVI)

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