Zacks Investment Research upgraded shares of Cross Country Healthcare (NASDAQ:CCRN) from a sell rating to a hold rating in a research note published on Monday morning.
According to Zacks, “Cross Country Healthcare, Inc. is a national leader in providing innovative healthcare workforce solutions and staffing services. Their diverse client base includes both clinical and nonclinical settings, servicing acute care hospitals, physician practice groups, outpatient and ambulatory-care centers, nursing facilities, both public schools and charter schools, rehabilitation and sports medicine clinics, government facilities, and homecare. They are able to place clinicians on travel and per diem assignments, local short-term contracts and permanent positions. They are a market leader in providing flexible workforce management solutions, which include managed services programs (MSP), internal resource pool consulting and development, electronic medical record (EMR) transition staffing, recruitment process outsourcing, predictive modeling and other outsourcing and consultative services. “
Several other research analysts have also recently commented on the company. Credit Suisse Group lowered their target price on Cross Country Healthcare from $11.50 to $9.00 and set a neutral rating for the company in a research note on Thursday, August 2nd. BMO Capital Markets cut Cross Country Healthcare from an outperform rating to a market perform rating and set a $13.00 target price for the company. in a research note on Thursday, August 2nd. BidaskClub cut Cross Country Healthcare from a strong-buy rating to a buy rating in a research note on Friday, June 8th. ValuEngine raised Cross Country Healthcare from a sell rating to a hold rating in a research note on Wednesday, May 23rd. Finally, Cantor Fitzgerald reissued a hold rating and set a $11.00 target price on shares of Cross Country Healthcare in a research note on Monday, May 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. The company has an average rating of Hold and an average target price of $13.14.
CCRN opened at $9.94 on Monday. Cross Country Healthcare has a 12 month low of $7.41 and a 12 month high of $14.65. The firm has a market cap of $367.67 million, a P/E ratio of 16.30, a P/E/G ratio of 3.43 and a beta of 0.86. The company has a quick ratio of 2.33, a current ratio of 2.33 and a debt-to-equity ratio of 0.38.
Cross Country Healthcare (NASDAQ:CCRN) last released its earnings results on Wednesday, August 1st. The business services provider reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.01). Cross Country Healthcare had a return on equity of 7.90% and a net margin of 4.39%. The company had revenue of $204.57 million for the quarter, compared to analyst estimates of $209.29 million. During the same period in the previous year, the firm earned $0.16 earnings per share. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. research analysts forecast that Cross Country Healthcare will post 0.24 EPS for the current fiscal year.
In other Cross Country Healthcare news, insider William J. Grubbs acquired 10,000 shares of the stock in a transaction dated Wednesday, August 8th. The stock was acquired at an average cost of $8.93 per share, with a total value of $89,300.00. Following the transaction, the insider now owns 422,291 shares in the company, valued at approximately $3,771,058.63. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Joseph Trunfio acquired 10,650 shares of the stock in a transaction dated Friday, August 10th. The shares were acquired at an average cost of $9.43 per share, with a total value of $100,429.50. Following the completion of the transaction, the director now owns 139,034 shares in the company, valued at approximately $1,311,090.62. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 37,241 shares of company stock valued at $343,253. Insiders own 3.40% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Pitcairn Co. boosted its position in shares of Cross Country Healthcare by 50.6% during the 1st quarter. Pitcairn Co. now owns 35,090 shares of the business services provider’s stock worth $390,000 after acquiring an additional 11,786 shares in the last quarter. Systematic Financial Management LP boosted its position in shares of Cross Country Healthcare by 53.2% during the 2nd quarter. Systematic Financial Management LP now owns 634,924 shares of the business services provider’s stock worth $7,143,000 after acquiring an additional 220,357 shares in the last quarter. Heartland Advisors Inc. acquired a new position in shares of Cross Country Healthcare during the 1st quarter worth about $5,443,000. Millennium Management LLC boosted its position in shares of Cross Country Healthcare by 199.3% during the 4th quarter. Millennium Management LLC now owns 136,909 shares of the business services provider’s stock worth $1,747,000 after acquiring an additional 91,169 shares in the last quarter. Finally, Aperio Group LLC acquired a new position in shares of Cross Country Healthcare during the 1st quarter worth about $133,000. 89.98% of the stock is owned by institutional investors and hedge funds.
About Cross Country Healthcare
Cross Country Healthcare, Inc provides healthcare staffing, recruiting, and workforce solutions in the United States. The company operates in three segments: Nurse and Allied Staffing, Physician Staffing, and Other Human Capital Management Services. The Nurse and Allied Staffing segment offers traditional staffing, including temporary and permanent placement of travel nurses and allied professionals, branch-based local nurses, and allied staffing; short-term staffing of registered nurses, licensed practical nurses, certified nurse assistants, practitioners, pharmacists, and other allied professionals on per diem and short-term assignments; and travel allied professionals on long-term contract assignments.
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