Civitas Solutions (CIVI) Lifted to Hold at Zacks Investment Research

Civitas Solutions (NYSE:CIVI) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Thursday.

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. “

A number of other equities analysts have also recently commented on CIVI. Raymond James Financial upgraded Civitas Solutions from a “market perform” rating to an “outperform” rating in a report on Friday, February 2nd. Citigroup upgraded 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. Canaccord Genuity lifted their price objective on Civitas Solutions from $26.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. BidaskClub cut 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 price objective on Civitas Solutions and gave the company a “buy” rating in a research note on Thursday, December 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. Civitas Solutions has a consensus rating of “Buy” and a consensus price target of $20.00.

Shares of Civitas Solutions (NYSE:CIVI) traded down $3.45 during trading on Thursday, reaching $11.35. The company had a trading volume of 1,019,120 shares, compared to its average volume of 88,825. Civitas Solutions has a 12 month low of $11.15 and a 12 month high of $19.95. The stock has a market cap of $426.16, a PE ratio of 36.61, a price-to-earnings-growth ratio of 1.39 and a beta of 0.42. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 3.83.

Civitas Solutions (NYSE:CIVI) last announced its earnings results on Tuesday, December 12th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. Civitas Solutions had a return on equity of 20.03% and a net margin of 0.76%. equities research analysts anticipate that Civitas Solutions will post 0.82 EPS for the current year.

Civitas Solutions declared that its Board of Directors has initiated a stock 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 often a sign that the company’s board believes its stock is undervalued.

In other news, CFO Denis M. Holler sold 7,148 shares of Civitas Solutions stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $19.63, for a total value of $140,315.24. Following the completion of the transaction, the chief financial officer now owns 287,762 shares in the company, valued at approximately $5,648,768.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Denis M. Holler sold 12,238 shares of Civitas Solutions 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 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. Insiders sold a total of 30,197 shares of company stock valued at $586,236 in the last quarter. Company insiders own 5.30% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Strs Ohio acquired a new stake in shares of Civitas Solutions during the 3rd quarter worth about $127,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Civitas Solutions during the 3rd quarter worth about $197,000. Parametric Portfolio Associates LLC acquired a new stake in shares of Civitas Solutions during the 2nd quarter worth about $211,000. First Trust Advisors LP acquired a new stake in shares of Civitas Solutions during the 3rd quarter worth about $223,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of 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 acquiring an additional 630 shares in the last quarter. 93.85% of the stock is currently owned by institutional investors and hedge funds.

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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).

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