Bank of America Lowers Civitas Solutions (CIVI) Price Target to $19.00
Civitas Solutions (NYSE:CIVI) had its price objective decreased by Bank of America from $23.00 to $19.00 in a research note released on Friday morning. Bank of America currently has a buy rating on the stock.
Other analysts have also recently issued reports about the company. Canaccord Genuity restated a buy rating and issued a $27.00 target price on shares of Civitas Solutions in a research report on Wednesday, December 13th. SunTrust Banks set a $21.00 target price on Civitas Solutions and gave the company a buy rating in a research report on Thursday, December 21st. Zacks Investment Research upgraded Civitas Solutions from a strong sell rating to a hold rating in a research report on Thursday. Raymond James Financial upgraded Civitas Solutions from a market perform rating to an outperform rating in a research report on Friday, February 2nd. Finally, Citigroup upgraded Civitas Solutions to an outperform rating and set a $21.00 target price on the stock in a research report on Friday, February 2nd. They noted that the move was a valuation call. One equities research 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. The stock currently has an average rating of Buy and a consensus price target of $20.00.
Shares of Civitas Solutions (NYSE CIVI) opened at $11.35 on Friday. The stock has a market capitalization of $426.16, a P/E ratio of 12.75, a P/E/G ratio of 1.39 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 3.99, a current ratio of 1.26 and a quick ratio of 1.26.
Civitas Solutions declared that its Board of Directors has initiated a stock 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 purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.
In other news, CFO Denis M. Holler sold 7,148 shares of Civitas Solutions stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $19.63, for a total transaction of $140,315.24. Following the transaction, the chief financial officer now directly owns 287,762 shares in the company, valued at approximately $5,648,768.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Denis M. Holler sold 12,238 shares of Civitas Solutions stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $19.75, for a total value of $241,700.50. Following the transaction, the chief financial officer now owns 277,502 shares in the company, valued at $5,480,664.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,042 shares of company stock worth $508,330. 4.76% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of the company. Strs Ohio bought a new stake in shares of Civitas Solutions during the 3rd quarter worth $127,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of Civitas Solutions during the 3rd quarter worth $197,000. Parametric Portfolio Associates LLC bought a new stake in shares of Civitas Solutions during the 2nd quarter worth $211,000. First Trust Advisors LP bought a new stake in shares of Civitas Solutions during the 3rd quarter worth $223,000. Finally, The Manufacturers Life Insurance Company boosted its stake 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. Institutional investors own 93.90% of the company’s stock.
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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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