Zacks Investment Research Downgrades Civitas Solutions (CIVI) to Sell

Civitas Solutions (NYSE:CIVI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released 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. “

Several other research firms have also commented on CIVI. Canaccord Genuity restated a “buy” rating and issued a $27.00 price target on shares of Civitas Solutions in a report on Wednesday, December 13th. Citigroup upgraded shares of Civitas Solutions to an “outperform” rating and set a $21.00 price objective on the stock in a research note on Friday, February 2nd. They noted that the move was a valuation call. SunTrust Banks set a $21.00 price objective on shares of Civitas Solutions and gave the company a “buy” rating in a research note on Thursday, December 21st. Raymond James Financial upgraded shares of Civitas Solutions from a “market perform” rating to an “outperform” rating in a research note on Friday, February 2nd. Finally, Bank of America dropped their price objective on shares of Civitas Solutions from $23.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, February 9th. Two equities research analysts have rated the stock with a sell rating and five have issued a buy rating to the company’s stock. Civitas Solutions currently has an average rating of “Hold” and an average target price of $20.00.

Civitas Solutions (NYSE CIVI) opened at $12.70 on Thursday. 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 3.99, a current ratio of 1.26 and a quick ratio of 1.26. The company has a market cap of $474.97, a P/E ratio of 14.21, a P/E/G ratio of 1.49 and a beta of 0.42.

Civitas Solutions (NYSE:CIVI) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.17. Civitas Solutions had a net margin of 0.76% and a return on equity of 19.77%. The firm had revenue of $395.42 million for the quarter, compared to analyst estimates of $390.05 million. equities analysts expect that Civitas Solutions will post 0.85 EPS for the current fiscal year.

Civitas Solutions announced that its board has initiated a share repurchase plan on Thursday, February 8th that permits the company to buyback $25.00 million in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

In other news, CFO Denis M. Holler sold 12,238 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $19.75, for a total transaction of $241,700.50. Following the completion of the sale, the chief financial officer now owns 277,502 shares of the company’s stock, valued at $5,480,664.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Renzo Linda De sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $18.81, for a total transaction of $94,050.00. Following the sale, the insider now directly owns 154,854 shares of the company’s stock, valued at approximately $2,912,803.74. The disclosure for this sale can be found here. Insiders have sold 25,897 shares of company stock worth $505,619 in the last quarter. Insiders own 5.30% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in CIVI. Ameriprise Financial Inc. acquired a new stake in shares of Civitas Solutions during the second quarter worth approximately $1,705,000. The Manufacturers Life Insurance Company grew its position in shares of Civitas Solutions by 35.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 240,705 shares of the company’s stock worth $4,116,000 after buying an additional 62,590 shares in the last quarter. Northern Trust Corp grew its position in shares of Civitas Solutions by 19.2% during the second quarter. Northern Trust Corp now owns 243,499 shares of the company’s stock worth $4,261,000 after buying an additional 39,301 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Civitas Solutions by 68.8% during the fourth quarter. Renaissance Technologies LLC now owns 90,500 shares of the company’s stock worth $1,548,000 after buying an additional 36,900 shares in the last quarter. Finally, State Street Corp grew its position in shares of Civitas Solutions by 14.3% during the second quarter. State Street Corp now owns 270,368 shares of the company’s stock worth $4,738,000 after buying an additional 33,779 shares in the last quarter. 93.90% of the stock is 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).

Analyst Recommendations for Civitas Solutions (NYSE:CIVI)

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