Cross Country Healthcare, Inc. (NASDAQ:CCRN) Given Average Recommendation of “Reduce” by Analysts

Shares of Cross Country Healthcare, Inc. (NASDAQ:CCRN) have been given a consensus recommendation of “Reduce” by the ten ratings firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and nine have issued a hold rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $12.72.

Several brokerages have recently issued reports on CCRN. Truist Financial boosted their price target on Cross Country Healthcare from $10.00 to $13.25 and gave the company a “hold” rating in a research note on Monday, May 11th. Weiss Ratings upgraded Cross Country Healthcare from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday. Benchmark lowered Cross Country Healthcare from a “buy” rating to a “hold” rating in a report on Friday, May 8th. Wedbush lowered Cross Country Healthcare from an “outperform” rating to a “hold” rating and cut their target price for the company from $15.00 to $13.25 in a report on Thursday, May 7th. Finally, Cross Research set a $14.00 target price on Cross Country Healthcare in a report on Thursday, March 5th.

Cross Country Healthcare Price Performance

Shares of CCRN opened at $13.09 on Wednesday. Cross Country Healthcare has a one year low of $7.43 and a one year high of $14.99. The company has a 50-day moving average of $10.90 and a two-hundred day moving average of $9.72. The stock has a market cap of $423.20 million, a price-to-earnings ratio of -4.29, a PEG ratio of 13.43 and a beta of 0.45.

Cross Country Healthcare (NASDAQ:CCRN) last released its earnings results on Thursday, May 7th. The business services provider reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.02. Cross Country Healthcare had a negative return on equity of 0.74% and a negative net margin of 9.84%.The company had revenue of $241.06 million for the quarter, compared to analysts’ expectations of $237.07 million. Analysts anticipate that Cross Country Healthcare will post 0.1 earnings per share for the current year.

Institutional Investors Weigh In On Cross Country Healthcare

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets increased its position in Cross Country Healthcare by 50.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,424 shares of the business services provider’s stock worth $45,000 after buying an additional 1,142 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in Cross Country Healthcare in the 4th quarter worth approximately $46,000. Tower Research Capital LLC TRC increased its position in Cross Country Healthcare by 422.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,586 shares of the business services provider’s stock worth $47,000 after buying an additional 2,899 shares during the period. Graham Capital Management L.P. bought a new position in Cross Country Healthcare in the 4th quarter worth approximately $83,000. Finally, AXQ Capital LP bought a new position in Cross Country Healthcare in the 4th quarter worth approximately $109,000. 96.03% of the stock is currently owned by institutional investors and hedge funds.

Cross Country Healthcare Company Profile

Cross Country Healthcare, Inc, headquartered in Boca Raton, Florida, is a leading provider of healthcare workforce solutions in the United States. The company specializes in the recruitment, placement and management of nursing and allied health professionals on both a travel and permanent basis. Through its integrated platform, Cross Country Healthcare serves hospitals, health systems, and long-term care facilities by matching qualified clinical talent with patient care needs across diverse care settings.

The company’s core service offerings include travel nurse and allied health staffing, per diem staffing, permanent placement services, and managed services programs.