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

Cross Country Healthcare, Inc. (NASDAQ:CCRNGet Rating) has received a consensus recommendation of “Buy” from the eight research firms that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $28.14.

Several analysts have recently weighed in on the stock. Barrington Research increased their price target on shares of Cross Country Healthcare from $33.00 to $44.00 in a research note on Monday, April 11th. Zacks Investment Research raised shares of Cross Country Healthcare from a “hold” rating to a “strong-buy” rating and set a $22.00 price target for the company in a research note on Friday, January 21st. StockNews.com assumed coverage on shares of Cross Country Healthcare in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Benchmark increased their price target on shares of Cross Country Healthcare from $33.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, February 24th. Finally, Jefferies Financial Group raised shares of Cross Country Healthcare from a “hold” rating to a “buy” rating and increased their price objective for the stock from $18.00 to $27.00 in a research report on Thursday, January 27th.

In other Cross Country Healthcare news, General Counsel Susan E. Ball sold 17,458 shares of the stock in a transaction that occurred on Monday, March 7th. The shares were sold at an average price of $20.72, for a total transaction of $361,729.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO William J. Burns sold 10,000 shares of the stock in a transaction that occurred on Monday, March 7th. The stock was sold at an average price of $20.54, for a total transaction of $205,400.00. The disclosure for this sale can be found here. Company insiders own 5.00% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its holdings in shares of Cross Country Healthcare by 138.4% in the 3rd quarter. Wellington Management Group LLP now owns 2,332,175 shares of the business services provider’s stock valued at $49,536,000 after purchasing an additional 1,353,750 shares in the last quarter. Divisadero Street Capital Management LP acquired a new stake in shares of Cross Country Healthcare in the 4th quarter valued at $10,629,000. Congress Asset Management Co. MA acquired a new stake in shares of Cross Country Healthcare in the 4th quarter valued at $8,760,000. Balyasny Asset Management LLC acquired a new stake in shares of Cross Country Healthcare in the 3rd quarter valued at $5,862,000. Finally, Millennium Management LLC raised its holdings in shares of Cross Country Healthcare by 260.4% in the 3rd quarter. Millennium Management LLC now owns 287,510 shares of the business services provider’s stock valued at $6,107,000 after purchasing an additional 207,733 shares in the last quarter. Institutional investors own 89.46% of the company’s stock.

Shares of NASDAQ CCRN opened at $16.89 on Tuesday. Cross Country Healthcare has a 12-month low of $14.23 and a 12-month high of $30.40. The stock has a market cap of $642.88 million, a PE ratio of 3.65, a P/E/G ratio of 0.74 and a beta of 1.09. The company has a current ratio of 2.44, a quick ratio of 2.54 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average of $20.51 and a 200 day moving average of $22.69.

Cross Country Healthcare (NASDAQ:CCRNGet Rating) last announced its quarterly earnings data on Wednesday, May 4th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.30. Cross Country Healthcare had a net margin of 8.17% and a return on equity of 59.34%. The company had revenue of $788.70 million during the quarter, compared to analysts’ expectations of $745.54 million. During the same quarter in the prior year, the company earned $0.58 EPS. Cross Country Healthcare’s revenue was up 139.6% compared to the same quarter last year. On average, sell-side analysts forecast that Cross Country Healthcare will post 4.59 EPS for the current fiscal year.

Cross Country Healthcare Company Profile (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.

Further Reading

Analyst Recommendations for Cross Country Healthcare (NASDAQ:CCRN)

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