Zacks Research Upgrades Cross Country Healthcare (NASDAQ:CCRN) to Hold

Cross Country Healthcare (NASDAQ:CCRN) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

CCRN has been the subject of several other research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cross Country Healthcare in a research report on Monday, December 29th. JMP Securities set a $11.00 price objective on Cross Country Healthcare in a research note on Thursday, December 4th. UBS Group decreased their price objective on Cross Country Healthcare from $16.50 to $9.00 and set a “neutral” rating for the company in a research report on Tuesday, December 9th. Truist Financial set a $10.00 price target on Cross Country Healthcare in a report on Tuesday, December 16th. Finally, Citizens Jmp raised shares of Cross Country Healthcare from a “market perform” rating to an “outperform” rating and set a $11.00 price objective on the stock in a research note on Thursday, December 4th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Cross Country Healthcare presently has a consensus rating of “Hold” and a consensus price target of $11.38.

Cross Country Healthcare Stock Down 4.5%

Shares of CCRN opened at $8.75 on Monday. The company has a market capitalization of $286.65 million, a price-to-earnings ratio of -17.86, a price-to-earnings-growth ratio of 6.11 and a beta of 0.45. Cross Country Healthcare has a 52-week low of $7.43 and a 52-week high of $18.30. The stock has a 50 day moving average price of $9.13 and a 200 day moving average price of $11.67.

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

Institutional Investors Weigh In On Cross Country Healthcare

A number of hedge funds and other institutional investors have recently modified their holdings of CCRN. Alliancebernstein L.P. grew its holdings in shares of Cross Country Healthcare by 4.0% in the 2nd quarter. Alliancebernstein L.P. now owns 2,438,282 shares of the business services provider’s stock worth $31,820,000 after acquiring an additional 94,798 shares during the period. Goldman Sachs Group Inc. boosted its position in Cross Country Healthcare by 56.9% during 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 purchasing an additional 397,216 shares in the last quarter. Geode Capital Management LLC boosted its position in Cross Country Healthcare by 1.3% during the second quarter. Geode Capital Management LLC now owns 828,743 shares of the business services provider’s stock worth $10,817,000 after purchasing an additional 10,332 shares in the last quarter. AQR Arbitrage LLC increased its position in shares of Cross Country Healthcare by 3.0% in the second quarter. AQR Arbitrage LLC now owns 792,344 shares of the business services provider’s stock valued at $10,340,000 after buying an additional 22,792 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its stake in shares of Cross Country Healthcare by 20.1% during the 3rd quarter. Qube Research & Technologies Ltd now owns 718,793 shares of the business services provider’s stock worth $10,207,000 after buying an additional 120,546 shares during the last quarter. 96.03% of the stock is currently owned by institutional investors and hedge funds.

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.