Brokerages Set Concentra Group Holdings Parent, Inc. (NYSE:CON) Target Price at $30.20

Concentra Group Holdings Parent, Inc. (NYSE:CON) has received a consensus rating of “Moderate Buy” from the seven brokerages that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $30.20.

Several brokerages recently issued reports on CON. Wells Fargo & Company increased their price objective on Concentra Group Holdings Parent from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday, March 5th. The Goldman Sachs Group began coverage on Concentra Group Holdings Parent in a research note on Friday, June 5th. They issued a “buy” rating and a $30.00 price objective for the company. Truist Financial reissued a “buy” rating and issued a $31.00 price objective (up from $29.00) on shares of Concentra Group Holdings Parent in a research note on Monday, May 11th. Finally, Weiss Ratings raised Concentra Group Holdings Parent from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 11th.

Insider Buying and Selling at Concentra Group Holdings Parent

In other news, Director Robert A. Ortenzio sold 130,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $25.00, for a total transaction of $3,250,000.00. Following the completion of the sale, the director directly owned 763,455 shares of the company’s stock, valued at $19,086,375. This trade represents a 14.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 8.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Concentra Group Holdings Parent

A number of hedge funds and other institutional investors have recently made changes to their positions in CON. EverSource Wealth Advisors LLC raised its stake in shares of Concentra Group Holdings Parent by 124.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,195 shares of the company’s stock worth $25,000 after purchasing an additional 663 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its stake in shares of Concentra Group Holdings Parent by 2,784.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,442 shares of the company’s stock worth $30,000 after purchasing an additional 1,392 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Concentra Group Holdings Parent by 49.1% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,604 shares of the company’s stock worth $34,000 after purchasing an additional 528 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Concentra Group Holdings Parent during the 4th quarter worth about $35,000. Finally, Osaic Holdings Inc. raised its stake in shares of Concentra Group Holdings Parent by 59.5% during the 2nd quarter. Osaic Holdings Inc. now owns 2,041 shares of the company’s stock worth $42,000 after purchasing an additional 761 shares in the last quarter.

Concentra Group Holdings Parent Stock Down 0.1%

Shares of Concentra Group Holdings Parent stock opened at $28.54 on Monday. The stock has a 50-day moving average price of $24.76 and a 200 day moving average price of $22.69. The company has a market cap of $3.65 billion, a P/E ratio of 20.53, a P/E/G ratio of 1.30 and a beta of 0.82. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 3.62. Concentra Group Holdings Parent has a 1 year low of $18.55 and a 1 year high of $28.94.

Concentra Group Holdings Parent (NYSE:CON) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.05. The firm had revenue of $569.56 million during the quarter, compared to the consensus estimate of $553.53 million. Concentra Group Holdings Parent had a return on equity of 47.14% and a net margin of 7.97%.The business’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.32 EPS. As a group, analysts expect that Concentra Group Holdings Parent will post 1.53 EPS for the current fiscal year.

Concentra Group Holdings Parent Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 19th were paid a dividend of $0.0625 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.9%. Concentra Group Holdings Parent’s dividend payout ratio (DPR) is 17.99%.

Concentra Group Holdings Parent Company Profile

Concentra Group Holdings Parent (NYSE:CON) is a Canada-based financial services holding company that specializes in serving Canadian credit unions and their members. Through its operating subsidiaries, the group provides wholesale funding, lending solutions and investment management services tailored to the unique needs of cooperative financial institutions. Concentra’s broad suite of offerings includes trust and custody services, mortgage investment products and equipment financing, all designed to support credit-union growth and stability.

In addition to wholesale funding and lending, Concentra Group Holdings Parent distributes life and general insurance products through affiliated insurance brokers and credit-union channels.