Civitas Solutions Acquires Three Massachusetts Adult Day Health (ADH) Centers

Go back to Civitas Solutions Acquires Three Massachusetts Adult Day Health (ADH) Centers

UBS Remains Bullish as Civitas Solutions (CIVI) Reaffirms Full Year Guidance

February 10, 2016 10:09 AM EST

UBS maintained a Buy rating on Civitas Solutions (NYSE: CIVI), and cut the price target to $28.00 (from $29.50), following the company's 1Q earnings report. CIVI posted adjusted EBITDA down to $36.3 mln, which was $1.8 mln below consensus' estimates. Adjusted EPS was $0.16, which compares to UBS' estimate of $0.20. CIVI kept full year guidance unchanged.

Analyst A.J. Rice commented, "CIVI posted F1Q16 adj EBITDA down 10.4% Y/Y to $36.3 mln,... More