Civitas Solutions Inc (NYSE:CIVI) hit a new 52-week low on Friday after Bank of America lowered their price target on the stock from $23.00 to $19.00. Bank of America currently has a buy rating on the stock. Civitas Solutions traded as low as $11.30 and last traded at $11.40, with a volume of 891663 shares changing hands. The stock had previously closed at $14.80.

CIVI has been the subject of a number of other reports. Canaccord Genuity reiterated a “buy” rating and set a $19.00 price target (down from $27.00) on shares of Civitas Solutions in a research report on Friday. Zacks Investment Research upgraded shares of Civitas Solutions from a “strong sell” rating to a “hold” rating in a research report on Thursday. Raymond James Financial upgraded shares of Civitas Solutions from a “market perform” rating to an “outperform” rating in a research report on Friday, February 2nd. Citigroup upgraded shares of Civitas Solutions to an “outperform” rating and set a $21.00 price target for the company in a research report on Friday, February 2nd. They noted that the move was a valuation call. Finally, SunTrust Banks set a $21.00 price target on shares of Civitas Solutions and gave the company a “buy” rating in a research report on Thursday, December 21st. One 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 stock. The company currently has an average rating of “Buy” and an average target price of $20.00.

In related news, CFO Denis M. Holler sold 12,238 shares of Civitas Solutions stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $19.75, for a total transaction of $241,700.50. Following the completion of the transaction, the chief financial officer now directly owns 277,502 shares in the company, valued at approximately $5,480,664.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Renzo Linda De sold 4,155 shares of Civitas Solutions stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $18.75, for a total value of $77,906.25. Following the transaction, the insider now owns 162,893 shares of the company’s stock, valued at $3,054,243.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,197 shares of company stock valued at $586,236. Insiders own 5.30% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of Civitas Solutions by 0.9% during the 4th quarter. BlackRock Inc. now owns 907,853 shares of the company’s stock worth $15,525,000 after purchasing an additional 8,209 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Civitas Solutions by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 719,953 shares of the company’s stock worth $12,600,000 after purchasing an additional 7,218 shares during the last quarter. State Street Corp raised its position in shares of Civitas Solutions by 14.3% during the 2nd quarter. State Street Corp now owns 270,368 shares of the company’s stock worth $4,738,000 after purchasing an additional 33,779 shares during the last quarter. Northern Trust Corp raised its position in shares of Civitas Solutions by 19.2% during the 2nd quarter. Northern Trust Corp now owns 243,499 shares of the company’s stock worth $4,261,000 after purchasing an additional 39,301 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Civitas Solutions by 35.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 240,705 shares of the company’s stock worth $4,116,000 after purchasing an additional 62,590 shares during the last quarter. Hedge funds and other institutional investors own 93.85% of the company’s stock.

The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 3.83. The firm has a market cap of $326.81, a PE ratio of 36.61, a PEG ratio of 1.81 and a beta of 0.42.

Civitas Solutions (NYSE:CIVI) last issued its quarterly earnings data on Tuesday, December 12th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.02. Civitas Solutions had a return on equity of 20.03% and a net margin of 0.76%. analysts anticipate that Civitas Solutions Inc will post 0.82 earnings per share for the current fiscal year.

Civitas Solutions declared that its Board of Directors has initiated a stock buyback program on Thursday, February 8th that authorizes the company to buyback $25.00 million in shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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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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