Cross Country Healthcare (NASDAQ:CCRN) Price Target Raised to $44.00 at Barrington Research

Cross Country Healthcare (NASDAQ:CCRNGet Rating) had its target price lifted by Barrington Research from $33.00 to $44.00 in a report issued on Monday, The Fly reports. Barrington Research’s price target would suggest a potential upside of 112.05% from the stock’s previous close.

A number of other research firms have also commented on CCRN. Jefferies Financial Group raised Cross Country Healthcare from a “hold” rating to a “buy” rating and lifted their target price for the stock from $18.00 to $27.00 in a report on Thursday, January 27th. Zacks Investment Research upgraded Cross Country Healthcare from a “hold” rating to a “strong-buy” rating and set a $22.00 price target on the stock in a research note on Friday, January 21st. StockNews.com initiated coverage on Cross Country Healthcare in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Benchmark raised their price target on Cross Country Healthcare from $33.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, February 24th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $28.14.

CCRN stock traded up $0.23 on Monday, reaching $20.75. 8,470 shares of the company traded hands, compared to its average volume of 452,481. The company has a market cap of $789.81 million, a P/E ratio of 5.85, a price-to-earnings-growth ratio of 1.13 and a beta of 1.06. The firm has a fifty day simple moving average of $21.39 and a 200-day simple moving average of $22.89. Cross Country Healthcare has a one year low of $12.40 and a one year high of $30.40. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.54 and a quick ratio of 2.54.

Cross Country Healthcare (NASDAQ:CCRNGet Rating) last posted its earnings results on Wednesday, February 23rd. The business services provider reported $1.40 EPS for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.05. The business had revenue of $640.68 million during the quarter, compared to analyst estimates of $611.54 million. Cross Country Healthcare had a return on equity of 52.08% and a net margin of 7.87%. The company’s quarterly revenue was up 197.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.19 EPS. On average, sell-side analysts forecast that Cross Country Healthcare will post 2.78 EPS for the current year.

In other news, General Counsel Susan E. Ball sold 17,458 shares of Cross Country Healthcare stock in a transaction dated Monday, March 7th. The stock was sold at an average price of $20.72, for a total value of $361,729.76. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO William J. Burns sold 10,000 shares of Cross Country Healthcare stock in a transaction dated Monday, March 7th. The stock was sold at an average price of $20.54, for a total value of $205,400.00. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of CCRN. Everence Capital Management Inc. increased its stake in Cross Country Healthcare by 66.9% during the first quarter. Everence Capital Management Inc. now owns 12,950 shares of the business services provider’s stock worth $281,000 after acquiring an additional 5,190 shares during the last quarter. Silverleafe Capital Partners LLC boosted its position in shares of Cross Country Healthcare by 11.9% during the first quarter. Silverleafe Capital Partners LLC now owns 92,142 shares of the business services provider’s stock valued at $1,997,000 after buying an additional 9,775 shares during the period. Barclays PLC boosted its position in shares of Cross Country Healthcare by 44.2% during the fourth quarter. Barclays PLC now owns 46,856 shares of the business services provider’s stock valued at $1,301,000 after buying an additional 14,363 shares during the period. BlackRock Inc. boosted its position in shares of Cross Country Healthcare by 1.2% during the fourth quarter. BlackRock Inc. now owns 5,598,613 shares of the business services provider’s stock valued at $155,417,000 after buying an additional 64,390 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of Cross Country Healthcare by 227.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 131,047 shares of the business services provider’s stock valued at $3,638,000 after buying an additional 91,085 shares during the period. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

About Cross Country Healthcare (Get Rating)

Cross Country Healthcare, Inc provides talent management and other consultative services for healthcare clients in the United States. The company operates in two segments, Nurse and Allied Staffing and Physician Staffing. The Nurse and Allied Staffing segment offers traditional staffing, including temporary and permanent placement of travel nurses and allied professionals, local nurses, and allied staffing; staffing solutions for registered nurses, licensed practical nurses, certified nurse assistants, practitioners, pharmacists, and other allied professionals on per diem and short-term assignments; and clinical and non-clinical professionals on long-term contract assignments, as well as workforce solutions, including MSP, RPO, and consulting services.

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