Concentra Group Holdings Parent, Inc. (NYSE:CON) Stock Now Rated “Buy” by Wall Street Brokerages

Concentra Group Holdings Parent, Inc. (NYSE:CON) has been assigned a consensus rating of “Buy” from the eight research firms that are currently covering the firm, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $39.40.

A number of analysts have recently issued reports on CON shares. Truist Financial lifted their price objective on shares of Concentra Group Holdings Parent from $37.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Zacks Research raised Concentra Group Holdings Parent from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 31st. Weiss Ratings upgraded Concentra Group Holdings Parent from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, September 4th. Wells Fargo & Company lifted their price target on Concentra Group Holdings Parent from $28.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. Finally, JPMorgan Chase & Co. upped their price objective on Concentra Group Holdings Parent from $34.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, September 10th.

Insiders Place Their Bets

In related news, Director Robert Ortenzio sold 130,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $31.84, for a total value of $4,139,200.00. Following the completion of the sale, the director owned 503,455 shares in the company, valued at $16,030,007.20. The trade was a 20.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 8.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CON. Allworth Financial LP boosted its stake in shares of Concentra Group Holdings Parent by 70.3% in the 2nd quarter. Allworth Financial LP now owns 1,010 shares of the company’s stock valued at $30,000 after purchasing an additional 417 shares in the last quarter. Gamco Investors INC. ET AL grew its holdings in shares of Concentra Group Holdings Parent by 1.9% during the 1st quarter. Gamco Investors INC. ET AL now owns 29,256 shares of the company’s stock valued at $628,000 after purchasing an additional 536 shares during the last quarter. ProShare Advisors LLC raised its position in Concentra Group Holdings Parent by 3.1% in the 4th quarter. ProShare Advisors LLC now owns 22,750 shares of the company’s stock worth $448,000 after purchasing an additional 690 shares during the period. Integrated Wealth Concepts LLC purchased a new position in Concentra Group Holdings Parent in the 2nd quarter worth $38,000. Finally, Empowered Funds LLC raised its position in Concentra Group Holdings Parent by 9.3% in the 1st quarter. Empowered Funds LLC now owns 19,223 shares of the company’s stock worth $412,000 after purchasing an additional 1,632 shares during the period.

Concentra Group Holdings Parent Trading Up 0.0%

Shares of CON opened at $35.02 on Wednesday. The firm’s 50 day simple moving average is $33.83 and its 200 day simple moving average is $28.34. The company has a market capitalization of $4.47 billion, a P/E ratio of 22.59, a P/E/G ratio of 1.27 and a beta of 0.63. The company has a debt-to-equity ratio of 3.22, a current ratio of 1.38 and a quick ratio of 1.38. Concentra Group Holdings Parent has a 1-year low of $18.55 and a 1-year high of $36.71.

Concentra Group Holdings Parent (NYSE:CON) last announced its earnings results on Thursday, August 6th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.10. The business had revenue of $606.03 million during the quarter, compared to analyst estimates of $591.75 million. Concentra Group Holdings Parent had a net margin of 8.69% and a return on equity of 47.81%. Concentra Group Holdings Parent’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.37 earnings per share. Sell-side analysts forecast that Concentra Group Holdings Parent will post 1.65 earnings per share for the current fiscal year.

Concentra Group Holdings Parent Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Thursday, August 20th were issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Thursday, August 20th. Concentra Group Holdings Parent’s dividend payout ratio (DPR) is currently 16.13%.

Concentra Group Holdings Parent Company Profile

Concentra Group Holdings Parent, Inc is a U.S. health care company that operates one of the country’s largest networks of occupational health centers. Through its Concentra brand, the company provides medical services to employers and employees, with an emphasis on workplace injury care, occupational medicine and convenient access to non-emergency treatment.

Its services include treatment for work-related injuries and illnesses, physical examinations, drug and alcohol screening, workers’ compensation care, vaccinations, health and wellness programs, and regulatory examinations such as Department of Transportation physicals.