Cross Country Healthcare (NASDAQ:CCRN) Price Target Cut to $21.00 by Analysts at Barrington Research

Cross Country Healthcare (NASDAQ:CCRN) had its target price lowered by Barrington Research from $24.00 to $21.00 in a research note issued to investors on Monday morning, Benzinga reports. The brokerage currently has an outperform rating on the business services provider’s stock. Barrington Research also issued estimates for Cross Country Healthcare’s Q2 2024 earnings at $0.15 EPS, Q3 2024 earnings at $0.15 EPS, Q4 2024 earnings at $0.21 EPS, FY2024 earnings at $0.70 EPS and FY2025 earnings at $1.07 EPS.

A number of other equities research analysts have also weighed in on CCRN. Truist Financial decreased their target price on Cross Country Healthcare from $22.00 to $16.00 and set a hold rating for the company in a research report on Thursday, February 22nd. Benchmark reduced their price target on Cross Country Healthcare from $21.00 to $19.00 and set a buy rating for the company in a report on Thursday, May 2nd. Finally, TheStreet cut shares of Cross Country Healthcare from a b- rating to a c+ rating in a research report on Friday, March 1st. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Hold and an average price target of $20.83.

Cross Country Healthcare Price Performance

Shares of CCRN stock opened at $16.41 on Monday. The company has a market capitalization of $570.64 million, a price-to-earnings ratio of 12.62, a PEG ratio of 2.17 and a beta of 0.77. The company’s fifty day moving average price is $17.78 and its 200-day moving average price is $19.86. Cross Country Healthcare has a one year low of $15.65 and a one year high of $28.75.

Cross Country Healthcare (NASDAQ:CCRN) last announced its quarterly earnings results on Wednesday, May 1st. The business services provider reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. Cross Country Healthcare had a net margin of 2.58% and a return on equity of 11.69%. The firm had revenue of $379.17 million during the quarter, compared to the consensus estimate of $374.38 million. During the same quarter last year, the firm earned $0.84 EPS. The firm’s revenue for the quarter was down 39.1% compared to the same quarter last year. Equities research analysts expect that Cross Country Healthcare will post 0.77 earnings per share for the current fiscal year.

Insider Activity at Cross Country Healthcare

In other Cross Country Healthcare news, insider Karen Mote sold 6,216 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $16.95, for a total transaction of $105,361.20. Following the completion of the transaction, the insider now owns 35,101 shares in the company, valued at approximately $594,961.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 4.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cross Country Healthcare

Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC purchased a new stake in Cross Country Healthcare during the 4th quarter worth about $28,000. Gladius Capital Management LP lifted its stake in Cross Country Healthcare by 37.1% during the fourth quarter. Gladius Capital Management LP now owns 1,902 shares of the business services provider’s stock worth $43,000 after purchasing an additional 515 shares during the last quarter. Denali Advisors LLC boosted its holdings in Cross Country Healthcare by 3,885.5% in the first quarter. Denali Advisors LLC now owns 5,500 shares of the business services provider’s stock valued at $103,000 after purchasing an additional 5,362 shares in the last quarter. Aigen Investment Management LP purchased a new position in Cross Country Healthcare in the third quarter valued at approximately $219,000. Finally, Truvestments Capital LLC boosted its holdings in shares of Cross Country Healthcare by 26.1% in the 3rd quarter. Truvestments Capital LLC now owns 9,721 shares of the business services provider’s stock valued at $241,000 after buying an additional 2,013 shares in the last quarter. 96.03% of the stock is owned by hedge funds and other institutional investors.

Cross Country Healthcare Company Profile

Cross Country Healthcare, Inc provides talent management and other consultative services for healthcare clients in the United States. The company's Nurse and Allied Staffing segment provides traditional staffing, recruiting, and value-added total talent solutions, including temporary and permanent placement of travel and local nurse and, allied professionals; temporary placement of healthcare leaders within nursing, allied, physician, and human resources; vendor neutral and managed services programs; education healthcare services; in-home care services; and outsourcing services.