Truist Financial Forecasts Strong Price Appreciation for Concentra Group Holdings Parent (NYSE:CON) Stock

Concentra Group Holdings Parent (NYSE:CON) had its target price upped by stock analysts at Truist Financial from $37.00 to $42.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price objective suggests a potential upside of 24.45% from the stock’s current price.

A number of other research analysts also recently issued reports on the company. The Goldman Sachs Group began coverage on Concentra Group Holdings Parent in a report on Friday, June 5th. They issued a “buy” rating and a $30.00 price target on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Concentra Group Holdings Parent in a research report on Friday. William Blair began coverage on shares of Concentra Group Holdings Parent in a report on Wednesday, July 1st. They issued an “outperform” rating for the company. Finally, Royal Bank Of Canada increased their price target on shares of Concentra Group Holdings Parent from $36.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Concentra Group Holdings Parent presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.60.

Concentra Group Holdings Parent Trading Down 0.9%

Shares of CON traded down $0.31 during trading hours on Monday, reaching $33.75. 402,278 shares of the company traded hands, compared to its average volume of 908,298. The firm has a market cap of $4.30 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 1.53 and a beta of 0.61. Concentra Group Holdings Parent has a 12-month low of $18.55 and a 12-month high of $35.15. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 3.22. The stock’s fifty day moving average price is $29.80 and its 200 day moving average price is $25.44.

Concentra Group Holdings Parent (NYSE:CON) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.10. Concentra Group Holdings Parent had a return on equity of 47.81% and a net margin of 8.69%.The business had revenue of $606.03 million for the quarter, compared to the consensus estimate of $591.75 million. During the same quarter in the prior year, the company earned $0.37 EPS. The business’s revenue was up 10.0% compared to the same quarter last year. Sell-side analysts forecast that Concentra Group Holdings Parent will post 1.55 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Robert A. Ortenzio sold 130,000 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $31.84, for a total value of $4,139,200.00. Following the sale, the director directly owned 503,455 shares of the company’s stock, valued at $16,030,007.20. This represents a 20.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 390,000 shares of company stock valued at $11,354,200 in the last 90 days. 8.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Concentra Group Holdings Parent

Several hedge funds have recently bought and sold shares of CON. State Street Corp grew its stake in shares of Concentra Group Holdings Parent by 0.5% during the 4th quarter. State Street Corp now owns 4,446,551 shares of the company’s stock worth $87,508,000 after purchasing an additional 22,442 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Concentra Group Holdings Parent by 4.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,107,254 shares of the company’s stock valued at $66,645,000 after purchasing an additional 144,379 shares during the period. Geode Capital Management LLC boosted its holdings in Concentra Group Holdings Parent by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 2,851,717 shares of the company’s stock worth $56,130,000 after buying an additional 19,122 shares in the last quarter. Woodline Partners LP boosted its holdings in Concentra Group Holdings Parent by 142.7% during the third quarter. Woodline Partners LP now owns 2,746,505 shares of the company’s stock worth $57,484,000 after buying an additional 1,614,988 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in Concentra Group Holdings Parent by 1.6% during the first quarter. Principal Financial Group Inc. now owns 2,668,512 shares of the company’s stock valued at $57,238,000 after buying an additional 41,891 shares during the period.

About Concentra Group Holdings Parent

Concentra Group Holdings Parent (NYSE:CON) is a Canada-based financial services holding company that specializes in serving Canadian credit unions and their members. Through its operating subsidiaries, the group provides wholesale funding, lending solutions and investment management services tailored to the unique needs of cooperative financial institutions. Concentra’s broad suite of offerings includes trust and custody services, mortgage investment products and equipment financing, all designed to support credit-union growth and stability.

In addition to wholesale funding and lending, Concentra Group Holdings Parent distributes life and general insurance products through affiliated insurance brokers and credit-union channels.