Civitas Solutions (NYSE:CIVI) announced that its Board of Directors has approved a stock repurchase plan, which allows the company to buyback $25.00 million in shares on Thursday, February 8th, EventVestor reports. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
CIVI has been the subject of several analyst reports. Canaccord Genuity reiterated a “buy” rating and set a $27.00 price objective on shares of Civitas Solutions in a report on Wednesday, December 13th. SunTrust Banks set a $21.00 price objective on Civitas Solutions and gave the company a “buy” rating in a report on Thursday, December 21st. Bank of America reduced their target price on Civitas Solutions from $23.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, February 9th. Zacks Investment Research raised Civitas Solutions from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 8th. Finally, Raymond James Financial raised Civitas Solutions from a “market perform” rating to an “outperform” rating in a research report on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $20.00.
Shares of Civitas Solutions (CIVI) opened at $12.70 on Friday. Civitas Solutions has a 12-month low of $11.15 and a 12-month high of $19.95. The company has a debt-to-equity ratio of 3.99, a quick ratio of 1.26 and a current ratio of 1.26. The company has a market capitalization of $474.97, a PE ratio of 14.21, a PEG ratio of 1.49 and a beta of 0.42.
Civitas Solutions (NYSE:CIVI) last posted its earnings results on Thursday, February 8th. The company reported $0.29 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.17. Civitas Solutions had a return on equity of 19.77% and a net margin of 0.76%. The firm had revenue of $395.42 million for the quarter, compared to analysts’ expectations of $390.05 million. analysts predict that Civitas Solutions will post 0.85 earnings per share for the current fiscal year.
In related news, CFO Denis M. Holler sold 12,238 shares of the firm’s 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 transaction, the chief financial officer now directly owns 277,502 shares of the company’s stock, valued at approximately $5,480,664.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Renzo Linda De sold 5,000 shares of the firm’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $18.81, for a total transaction of $94,050.00. Following the completion of the transaction, the insider now directly owns 154,854 shares in the company, valued at $2,912,803.74. The disclosure for this sale can be found here. Insiders have sold a total of 25,897 shares of company stock worth $505,619 over the last 90 days. Insiders own 5.30% 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).
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