Cross Country Healthcare (NASDAQ:CCRN) Earns Neutral Rating from Analysts at Wedbush

Wedbush assumed coverage on shares of Cross Country Healthcare (NASDAQ:CCRN) in a research report sent to investors on Tuesday morning, Marketbeat reports. The brokerage issued a neutral rating and a $11.00 target price on the business services provider’s stock.

Other analysts also recently issued reports about the company. JMP Securities set a $11.00 target price on Cross Country Healthcare in a research report on Thursday, December 4th. Citigroup restated a “market outperform” rating on shares of Cross Country Healthcare in a research note on Friday, December 19th. Zacks Research raised shares of Cross Country Healthcare from a “strong sell” rating to a “hold” rating in a report on Monday, January 19th. Benchmark restated a “hold” rating on shares of Cross Country Healthcare in a research report on Monday, December 8th. Finally, Truist Financial set a $10.00 price target on shares of Cross Country Healthcare in a report on Tuesday, December 16th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $11.32.

Cross Country Healthcare Stock Performance

Shares of NASDAQ:CCRN opened at $8.74 on Tuesday. The company has a market capitalization of $286.32 million, a P/E ratio of -17.84, a price-to-earnings-growth ratio of 5.94 and a beta of 0.45. The company’s 50-day moving average is $8.60 and its 200 day moving average is $11.40. Cross Country Healthcare has a fifty-two week low of $7.43 and a fifty-two week high of $18.28.

Cross Country Healthcare (NASDAQ:CCRN) last announced its quarterly earnings data on Wednesday, November 12th. The business services provider reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). Cross Country Healthcare had a positive return on equity of 0.95% and a negative net margin of 1.39%.The company had revenue of $250.05 million during the quarter, compared to the consensus estimate of $270.72 million. As a group, research analysts predict that Cross Country Healthcare will post 0.53 earnings per share for the current year.

Institutional Investors Weigh In On Cross Country Healthcare

A number of large investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its stake in Cross Country Healthcare by 56.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,095,178 shares of the business services provider’s stock worth $16,307,000 after acquiring an additional 397,216 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Cross Country Healthcare by 7.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 115,823 shares of the business services provider’s stock valued at $1,725,000 after buying an additional 8,490 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Cross Country Healthcare by 139.9% during the second quarter. Signaturefd LLC now owns 2,193 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 1,279 shares during the last quarter. Credit Industriel ET Commercial raised its stake in Cross Country Healthcare by 89.9% during the 2nd quarter. Credit Industriel ET Commercial now owns 133,106 shares of the business services provider’s stock valued at $1,737,000 after buying an additional 63,000 shares during the last quarter. Finally, Allianz Asset Management GmbH bought a new position in Cross Country Healthcare in the second quarter valued at about $386,000. Institutional investors own 96.03% of the company’s stock.

Cross Country Healthcare Company Profile

Cross Country Healthcare, Inc, headquartered in Boca Raton, Florida, is a leading provider of healthcare workforce solutions in the United States. The company specializes in the recruitment, placement and management of nursing and allied health professionals on both a travel and permanent basis. Through its integrated platform, Cross Country Healthcare serves hospitals, health systems, and long-term care facilities by matching qualified clinical talent with patient care needs across diverse care settings.

The company’s core service offerings include travel nurse and allied health staffing, per diem staffing, permanent placement services, and managed services programs.