Zacks Investment Research upgraded shares of Cross Country Healthcare (NASDAQ:CCRN) from a sell rating to a hold rating in a report released on Tuesday 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 equities analysts also recently commented on CCRN. TheStreet upgraded Cross Country Healthcare from a c+ rating to a b rating in a research report on Wednesday, September 27th. BidaskClub raised Cross Country Healthcare from a sell rating to a hold rating in a report on Saturday, December 30th. BMO Capital Markets reduced their target price on Cross Country Healthcare from $15.00 to $14.00 and set an outperform rating on the stock in a report on Monday, November 6th. Cantor Fitzgerald reaffirmed a buy rating and issued a $18.00 target price on shares of Cross Country Healthcare in a report on Wednesday, November 1st. Finally, Credit Suisse Group started coverage on Cross Country Healthcare in a report on Tuesday, November 7th. They issued a neutral rating and a $13.00 target price on the stock. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Cross Country Healthcare has a consensus rating of Buy and a consensus price target of $15.31.
Cross Country Healthcare (NASDAQ CCRN) opened at $12.92 on Tuesday. Cross Country Healthcare has a 52-week low of $11.07 and a 52-week high of $16.38. The company has a market capitalization of $463.67, a PE ratio of 19.86, a PEG ratio of 1.65 and a beta of 0.75. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.14 and a quick ratio of 2.14.
Cross Country Healthcare (NASDAQ:CCRN) last announced its quarterly earnings data on Wednesday, November 1st. The business services provider reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.05. Cross Country Healthcare had a return on equity of 11.69% and a net margin of 0.19%. The business had revenue of $228.50 million for the quarter, compared to the consensus estimate of $228.97 million. During the same period in the previous year, the business earned $0.24 earnings per share. The business’s revenue was up 6.3% on a year-over-year basis. sell-side analysts predict that Cross Country Healthcare will post 0.64 EPS for the current fiscal year.
In other Cross Country Healthcare news, General Counsel Susan E. Ball sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $14.19, for a total transaction of $354,750.00. Following the sale, the general counsel now directly owns 126,921 shares of the company’s stock, valued at $1,801,008.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas C. Dircks acquired 10,000 shares of Cross Country Healthcare stock in a transaction on Monday, November 6th. The shares were bought at an average cost of $11.77 per share, for a total transaction of $117,700.00. Following the completion of the purchase, the director now directly owns 104,571 shares of the company’s stock, valued at $1,230,800.67. The disclosure for this purchase can be found here. Insiders own 3.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. TIAA CREF Investment Management LLC increased its stake in Cross Country Healthcare by 0.3% during the second quarter. TIAA CREF Investment Management LLC now owns 212,793 shares of the business services provider’s stock worth $2,747,000 after acquiring an additional 614 shares during the last quarter. Voya Investment Management LLC increased its stake in Cross Country Healthcare by 16.9% during the second quarter. Voya Investment Management LLC now owns 18,329 shares of the business services provider’s stock worth $237,000 after acquiring an additional 2,646 shares during the last quarter. Legal & General Group Plc increased its stake in Cross Country Healthcare by 5.8% during the second quarter. Legal & General Group Plc now owns 57,594 shares of the business services provider’s stock worth $743,000 after acquiring an additional 3,174 shares during the last quarter. Alliancebernstein L.P. increased its stake in Cross Country Healthcare by 8.7% during the second quarter. Alliancebernstein L.P. now owns 40,095 shares of the business services provider’s stock worth $518,000 after acquiring an additional 3,200 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Cross Country Healthcare by 13.3% during the second quarter. The Manufacturers Life Insurance Company now owns 28,772 shares of the business services provider’s stock worth $372,000 after acquiring an additional 3,371 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors.
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Cross Country Healthcare Company Profile
Cross Country Healthcare, Inc is engaged in providing healthcare recruiting, staffing, recruiting and workforce solutions. The Company operates in three segments: Nurse and Allied Staffing, Physician Staffing and Other Human Capital Management Services. The Nurse and Allied Staffing segment provides traditional staffing, including temporary and permanent placement of travel nurses and allied professionals, and branch-based local nurses and allied staffing.
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