Cross Country Healthcare (NASDAQ:CCRN) had its price target cut by SunTrust Banks from $12.00 to $9.00 in a report issued on Thursday, BenzingaRatingsTable reports. The firm currently has a “hold” rating on the business services provider’s stock. SunTrust Banks’ target price indicates a potential upside of 20.32% from the company’s current price.
A number of other analysts have also recently commented on the stock. BidaskClub raised shares of Cross Country Healthcare from a “sell” rating to a “hold” rating in a report on Wednesday, March 18th. Barrington Research reissued an “outperform” rating on shares of Cross Country Healthcare in a report on Tuesday, March 10th. Finally, Zacks Investment Research raised shares of Cross Country Healthcare from a “hold” rating to a “buy” rating and set a $8.25 target price on the stock in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $9.08.
Shares of CCRN traded down $0.68 during mid-day trading on Thursday, reaching $7.48. The stock had a trading volume of 6,975 shares, compared to its average volume of 340,288. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.15 and a current ratio of 2.15. The business has a fifty day moving average of $9.20 and a 200 day moving average of $10.54. Cross Country Healthcare has a 12 month low of $6.43 and a 12 month high of $13.42. The firm has a market cap of $324.36 million, a price-to-earnings ratio of -4.60, a PEG ratio of 4.05 and a beta of 1.03.
Cross Country Healthcare (NASDAQ:CCRN) last posted its earnings results on Wednesday, March 4th. The business services provider reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.01. The firm had revenue of $215.10 million during the quarter, compared to analyst estimates of $208.08 million. Cross Country Healthcare had a negative net margin of 7.02% and a positive return on equity of 3.02%. Cross Country Healthcare’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, research analysts forecast that Cross Country Healthcare will post 0.19 EPS for the current fiscal year.
In other Cross Country Healthcare news, CEO Kevin Cronin Clark bought 22,601 shares of Cross Country Healthcare stock in a transaction on Tuesday, March 10th. The shares were purchased at an average cost of $7.66 per share, for a total transaction of $173,123.66. Following the completion of the acquisition, the chief executive officer now owns 272,575 shares in the company, valued at approximately $2,087,924.50. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Thomas C. Dircks bought 4,293 shares of Cross Country Healthcare stock in a transaction on Tuesday, March 10th. The shares were acquired at an average price of $7.52 per share, for a total transaction of $32,283.36. Following the completion of the acquisition, the director now owns 154,360 shares of the company’s stock, valued at approximately $1,160,787.20. The disclosure for this purchase can be found here. Insiders acquired a total of 27,894 shares of company stock worth $212,317 over the last quarter. Corporate insiders own 3.80% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. California Public Employees Retirement System increased its position in shares of Cross Country Healthcare by 23.1% in the third quarter. California Public Employees Retirement System now owns 53,105 shares of the business services provider’s stock valued at $547,000 after acquiring an additional 9,979 shares during the last quarter. State Street Corp increased its position in Cross Country Healthcare by 3.3% during the third quarter. State Street Corp now owns 1,325,602 shares of the business services provider’s stock worth $13,654,000 after buying an additional 42,600 shares during the last quarter. California State Teachers Retirement System increased its position in Cross Country Healthcare by 1.9% during the third quarter. California State Teachers Retirement System now owns 55,684 shares of the business services provider’s stock worth $574,000 after buying an additional 1,013 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in shares of Cross Country Healthcare by 22.5% during the third quarter. Squarepoint Ops LLC now owns 33,669 shares of the business services provider’s stock worth $347,000 after acquiring an additional 6,182 shares during the period. Finally, Millennium Management LLC bought a new stake in shares of Cross Country Healthcare during the third quarter worth approximately $1,673,000. Hedge funds and other institutional investors own 95.12% of the company’s stock.
Cross Country Healthcare Company Profile
Cross Country Healthcare, Inc provides healthcare staffing, recruiting, and workforce solutions in the United States. The company operates in three segments: Nurse and Allied Staffing, Physician Staffing, and Other Human Capital Management Services. The Nurse and Allied Staffing segment offers traditional staffing, including temporary and permanent placement of travel nurses and allied professionals, branch-based local nurses, and allied staffing; short-term staffing of registered nurses, licensed practical nurses, certified nurse assistants, practitioners, pharmacists, and other allied professionals on per diem and short-term assignments; and travel allied professionals on long-term contract assignments.
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