Concentra Group Holdings Parent (NYSE:CON) Hits New 52-Week High – Still a Buy?

Concentra Group Holdings Parent, Inc. (NYSE:CON) reached a new 52-week high on Friday . The company traded as high as $32.51 and last traded at $32.1230, with a volume of 126762 shares trading hands. The stock had previously closed at $31.53.

Wall Street Analyst Weigh In

CON has been the subject of a number of research reports. The Goldman Sachs Group started coverage on Concentra Group Holdings Parent in a report on Friday, June 5th. They issued a “buy” rating and a $30.00 price objective for the company. William Blair assumed coverage on Concentra Group Holdings Parent in a research report on Wednesday, July 1st. They issued an “outperform” rating for the company. Weiss Ratings raised Concentra Group Holdings Parent from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Finally, Truist Financial upped their target price on Concentra Group Holdings Parent from $31.00 to $37.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.40.

Concentra Group Holdings Parent Stock Performance

The company has a debt-to-equity ratio of 3.62, a quick ratio of 1.26 and a current ratio of 1.26. The business has a 50 day moving average price of $28.55 and a two-hundred day moving average price of $24.62. The company has a market cap of $4.04 billion, a P/E ratio of 22.74, a price-to-earnings-growth ratio of 1.44 and a beta of 0.64.

Concentra Group Holdings Parent (NYSE:CON) last issued its earnings results on Thursday, May 7th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.05. The company had revenue of $569.55 million during the quarter, compared to analysts’ expectations of $553.53 million. Concentra Group Holdings Parent had a return on equity of 47.14% and a net margin of 7.97%.Concentra Group Holdings Parent’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.32 EPS. On average, sell-side analysts anticipate that Concentra Group Holdings Parent, Inc. will post 1.52 earnings per share for the current year.

Concentra Group Holdings Parent Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 19th were paid a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, May 19th. Concentra Group Holdings Parent’s dividend payout ratio is 17.99%.

Insider Activity

In other Concentra Group Holdings Parent news, Director Robert A. Ortenzio sold 130,000 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $30.50, for a total value of $3,965,000.00. Following the transaction, the director owned 633,455 shares in the company, valued at approximately $19,320,377.50. The trade was a 17.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 390,000 shares of company stock valued at $10,465,000 in the last quarter. 8.10% of the stock is currently owned by company insiders.

Institutional Trading of Concentra Group Holdings Parent

A number of institutional investors have recently modified their holdings of CON. EverSource Wealth Advisors LLC increased its holdings in Concentra Group Holdings Parent by 124.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,195 shares of the company’s stock valued at $25,000 after purchasing an additional 663 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in Concentra Group Holdings Parent by 2,784.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,442 shares of the company’s stock worth $30,000 after buying an additional 1,392 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in Concentra Group Holdings Parent by 49.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,604 shares of the company’s stock worth $34,000 after buying an additional 528 shares during the period. Kestra Advisory Services LLC bought a new stake in shares of Concentra Group Holdings Parent in the 4th quarter worth approximately $35,000. Finally, Osaic Holdings Inc. increased its stake in shares of Concentra Group Holdings Parent by 59.5% during the second quarter. Osaic Holdings Inc. now owns 2,041 shares of the company’s stock valued at $42,000 after buying an additional 761 shares during the period.

About Concentra Group Holdings Parent

Concentra Group Holdings Parent (NYSE:CON) is a Canada-based financial services holding company that specializes in serving Canadian credit unions and their members. Through its operating subsidiaries, the group provides wholesale funding, lending solutions and investment management services tailored to the unique needs of cooperative financial institutions. Concentra’s broad suite of offerings includes trust and custody services, mortgage investment products and equipment financing, all designed to support credit-union growth and stability.

In addition to wholesale funding and lending, Concentra Group Holdings Parent distributes life and general insurance products through affiliated insurance brokers and credit-union channels.