Zacks Investment Research upgraded shares of Cross Country Healthcare (NASDAQ:CCRN) from a sell rating to a hold rating in a report published on Monday.
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 research analysts also recently weighed in on CCRN. BidaskClub downgraded Cross Country Healthcare from a hold rating to a sell rating in a research report on Saturday, September 22nd. ValuEngine raised Cross Country Healthcare from a strong sell rating to a sell rating in a research report on Thursday, August 23rd. Barrington Research set a $11.00 price target on Cross Country Healthcare and gave the stock a buy rating in a research report on Thursday, November 15th. BMO Capital Markets raised their target price on Cross Country Healthcare from $9.00 to $10.00 and gave the company a market perform rating in a research report on Monday, November 5th. Finally, Lake Street Capital upgraded Cross Country Healthcare from a hold rating to a buy rating and raised their target price for the company from $10.00 to $12.00 in a research report on Friday, November 2nd. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $12.29.
Shares of CCRN opened at $7.62 on Monday. The stock has a market cap of $284.93 million, a price-to-earnings ratio of 12.49, a P/E/G ratio of 4.37 and a beta of 0.63. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.24 and a current ratio of 2.24. Cross Country Healthcare has a fifty-two week low of $7.41 and a fifty-two week high of $14.31.
Cross Country Healthcare (NASDAQ:CCRN) last announced its quarterly earnings results on Thursday, November 1st. The business services provider reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01). The company had revenue of $200.72 million for the quarter, compared to analyst estimates of $200.66 million. Cross Country Healthcare had a return on equity of 4.43% and a net margin of 3.67%. Cross Country Healthcare’s revenue for the quarter was down 12.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.23 earnings per share. On average, analysts expect that Cross Country Healthcare will post 0.15 EPS for the current year.
Several large investors have recently bought and sold shares of the company. BlackRock Inc. grew its position in shares of Cross Country Healthcare by 2.4% during the 3rd quarter. BlackRock Inc. now owns 5,082,744 shares of the business services provider’s stock valued at $44,373,000 after acquiring an additional 119,439 shares during the period. Vanguard Group Inc. grew its position in shares of Cross Country Healthcare by 12.3% during the 3rd quarter. Vanguard Group Inc. now owns 2,393,553 shares of the business services provider’s stock valued at $20,896,000 after acquiring an additional 262,049 shares during the period. Vanguard Group Inc grew its position in shares of Cross Country Healthcare by 12.3% during the 3rd quarter. Vanguard Group Inc now owns 2,393,553 shares of the business services provider’s stock valued at $20,896,000 after acquiring an additional 262,049 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Cross Country Healthcare by 13.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,232,283 shares of the business services provider’s stock valued at $19,488,000 after acquiring an additional 271,934 shares during the period. Finally, Royce & Associates LP grew its position in shares of Cross Country Healthcare by 9.7% during the 3rd quarter. Royce & Associates LP now owns 1,163,782 shares of the business services provider’s stock valued at $10,160,000 after acquiring an additional 103,301 shares during the period. Hedge funds and other institutional investors own 91.25% of the company’s stock.
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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