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

Cross Country Healthcare, Inc. (NASDAQ:CCRN) has been given an average rating of “Reduce” by the ten brokerages that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and nine have issued a hold recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $12.05.

A number of equities analysts have issued reports on CCRN shares. Citizens Jmp cut Cross Country Healthcare from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 7th. 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 research note on Monday, May 11th. Wedbush downgraded shares of Cross Country Healthcare from an “outperform” rating to a “hold” rating and dropped their target price for the company from $15.00 to $13.25 in a research report on Thursday, May 7th. Barrington Research reissued a “market perform” rating and set a $13.25 target price on shares of Cross Country Healthcare in a research note on Monday, June 8th. Finally, Weiss Ratings upgraded shares of Cross Country Healthcare from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, July 16th.

Institutional Trading of Cross Country Healthcare

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

Cross Country Healthcare Stock Performance

CCRN stock opened at $13.25 on Thursday. The firm has a market cap of $428.05 million, a PE ratio of -4.34, a price-to-earnings-growth ratio of 14.32 and a beta of 0.45. The stock has a 50-day moving average price of $13.17 and a 200-day moving average price of $10.73. Cross Country Healthcare has a 1-year low of $7.43 and a 1-year high of $14.99.

Cross Country Healthcare (NASDAQ:CCRN) last announced its earnings results on Thursday, May 7th. The business services provider reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.02. The company had revenue of $241.06 million for the quarter, compared to analyst estimates of $237.06 million. Cross Country Healthcare had a negative return on equity of 0.74% and a negative net margin of 9.84%. On average, analysts forecast that Cross Country Healthcare will post 0.09 earnings per share for the current year.

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.