Cross Country Healthcare, Inc. (CCRN) Research Coverage Started at Credit Suisse Group
Credit Suisse Group assumed coverage on shares of Cross Country Healthcare, Inc. (NASDAQ:CCRN) in a research note released on Tuesday, Marketbeat.com reports. The firm issued a neutral rating and a $13.00 price target on the business services provider’s stock.
A number of other research analysts have also weighed in on CCRN. TheStreet raised Cross Country Healthcare from a c+ rating to a b rating in a report on Wednesday, September 27th. Benchmark Co. reissued a buy rating and issued a $17.00 price objective (down from $18.00) on shares of Cross Country Healthcare in a report on Wednesday, August 9th. Zacks Investment Research raised Cross Country Healthcare from a hold rating to a buy rating and set a $13.00 price objective on the stock in a report on Monday, August 7th. Cantor Fitzgerald reissued a buy rating and issued a $18.00 price objective on shares of Cross Country Healthcare in a report on Wednesday, November 1st. Finally, BMO Capital Markets cut their price objective on Cross Country Healthcare from $15.00 to $14.00 and set an outperform rating on the stock in a report on Monday, November 6th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. Cross Country Healthcare has a consensus rating of Hold and a consensus target price of $15.31.
Cross Country Healthcare (NASDAQ CCRN) traded up $0.38 during trading on Tuesday, reaching $12.22. The company’s stock had a trading volume of 265,700 shares, compared to its average volume of 232,888. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.24 and a current ratio of 2.14. Cross Country Healthcare has a 52 week low of $11.07 and a 52 week high of $16.38. The stock has a market capitalization of $431.93, a PE ratio of 18.50, a PEG ratio of 1.05 and a beta of 0.77.
Cross Country Healthcare (NASDAQ:CCRN) last released its quarterly earnings results on Wednesday, November 1st. The business services provider reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.05. Cross Country Healthcare had a return on equity of 11.69% and a net margin of 0.19%. The company had revenue of $228.50 million during the quarter, compared to analysts’ expectations of $228.97 million. During the same period last year, the business posted $0.24 earnings per share. The firm’s revenue was up 6.3% compared to the same quarter last year. equities research analysts predict that Cross Country Healthcare will post 0.64 EPS for the current fiscal year.
In other Cross Country Healthcare news, Director Thomas C. Dircks purchased 10,000 shares of the stock in a transaction on Monday, November 6th. The shares were bought at an average price of $11.77 per share, for a total transaction of $117,700.00. Following the completion of the transaction, the director now owns 104,571 shares of the company’s stock, valued at approximately $1,230,800.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William J. Grubbs sold 49,113 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $12.16, for a total value of $597,214.08. Following the completion of the transaction, the insider now owns 395,188 shares in the company, valued at approximately $4,805,486.08. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CCRN. BNP Paribas Arbitrage SA lifted its position in shares of Cross Country Healthcare by 57.7% in the second quarter. BNP Paribas Arbitrage SA now owns 9,998 shares of the business services provider’s stock valued at $129,000 after acquiring an additional 3,660 shares in the last quarter. FDx Advisors Inc. purchased a new position in shares of Cross Country Healthcare in the third quarter valued at approximately $146,000. Strs Ohio lifted its position in shares of Cross Country Healthcare by 69.5% in the third quarter. Strs Ohio now owns 16,100 shares of the business services provider’s stock valued at $229,000 after acquiring an additional 6,600 shares in the last quarter. Voya Investment Management LLC lifted its position in shares of Cross Country Healthcare by 16.9% in the second quarter. Voya Investment Management LLC now owns 18,329 shares of the business services provider’s stock valued at $237,000 after acquiring an additional 2,646 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Cross Country Healthcare in the second quarter valued at approximately $246,000. Institutional investors and hedge funds own 95.83% of the company’s stock.
Cross Country Healthcare Company Profile
Cross Country Healthcare, Inc is engaged in providing healthcare recruiting, staffing, recruiting and workforce solutions. The Company operates in three segments: Nurse and Allied Staffing, Physician Staffing and Other Human Capital Management Services. The Nurse and Allied Staffing segment provides traditional staffing, including temporary and permanent placement of travel nurses and allied professionals, and branch-based local nurses and allied staffing.
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