Cross Country Healthcare, Inc. (NASDAQ:CCRN) Receives Consensus Rating of “Reduce” from Analysts

Cross Country Healthcare, Inc. (NASDAQ:CCRN) has earned an average recommendation of “Reduce” from the ten research firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and nine have given a hold recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $12.05.

Several equities analysts recently issued reports on the stock. Wedbush lowered shares of Cross Country Healthcare from an “outperform” rating to a “hold” rating and cut their price objective for the company from $15.00 to $13.25 in a report on Thursday, May 7th. Benchmark lowered shares of Cross Country Healthcare from a “buy” rating to a “hold” rating in a report on Friday, May 8th. Truist Financial lifted their price objective on shares of Cross Country Healthcare from $10.00 to $13.25 and gave the company a “hold” rating in a report on Monday, May 11th. Barrington Research reissued a “market perform” rating and set a $13.25 price objective on shares of Cross Country Healthcare in a report on Monday, June 8th. Finally, Citigroup lowered shares of Cross Country Healthcare from a “market outperform” rating to a “market perform” rating in a report on Thursday, May 7th.

Cross Country Healthcare Stock Performance

Shares of NASDAQ:CCRN opened at $13.19 on Friday. The firm has a market cap of $426.17 million, a PE ratio of -4.32, a price-to-earnings-growth ratio of 14.27 and a beta of 0.45. The firm’s 50 day simple moving average is $12.29 and its 200-day simple moving average is $10.05. Cross Country Healthcare has a one year low of $7.43 and a one year high of $14.99.

Cross Country Healthcare (NASDAQ:CCRN) last issued its earnings results on Thursday, May 7th. The business services provider reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The business had revenue of $241.06 million for the quarter, compared to analyst estimates of $237.07 million. Cross Country Healthcare had a negative net margin of 9.84% and a negative return on equity of 0.74%. Equities research analysts predict that Cross Country Healthcare will post 0.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Cross Country Healthcare

Several institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its stake in Cross Country Healthcare by 50.0% in the second quarter. BNP Paribas Financial Markets now owns 3,424 shares of the business services provider’s stock valued at $45,000 after acquiring an additional 1,142 shares in the last quarter. Gabelli Funds LLC boosted its stake in Cross Country Healthcare by 0.4% in the fourth quarter. Gabelli Funds LLC now owns 368,632 shares of the business services provider’s stock valued at $2,986,000 after acquiring an additional 1,348 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Cross Country Healthcare by 1.2% in the first quarter. Bank of New York Mellon Corp now owns 114,491 shares of the business services provider’s stock valued at $1,076,000 after acquiring an additional 1,404 shares in the last quarter. Bank of America Corp DE boosted its stake in Cross Country Healthcare by 3.1% in the second quarter. Bank of America Corp DE now owns 73,321 shares of the business services provider’s stock valued at $957,000 after acquiring an additional 2,198 shares in the last quarter. Finally, Brooklyn Investment Group boosted its stake in Cross Country Healthcare by 25.4% in the fourth quarter. Brooklyn Investment Group now owns 13,267 shares of the business services provider’s stock valued at $109,000 after acquiring an additional 2,684 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, 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.