Concentra Group Holdings Parent (NYSE:CON) Price Target Raised to $40.00

Concentra Group Holdings Parent (NYSE:CON) had its price objective upped by Wells Fargo & Company from $28.00 to $40.00 in a report released on Tuesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other equities analysts also recently commented on CON. Royal Bank Of Canada increased their price objective on shares of Concentra Group Holdings Parent from $36.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Concentra Group Holdings Parent in a research note on Friday, August 7th. The Goldman Sachs Group began coverage on shares of Concentra Group Holdings Parent in a report on Friday, June 5th. They set a “buy” rating and a $30.00 price target for the company. William Blair initiated coverage on Concentra Group Holdings Parent in a research note on Wednesday, July 1st. They issued an “outperform” rating for the company. Finally, Truist Financial raised their price objective on Concentra Group Holdings Parent from $37.00 to $42.00 and gave the company a “buy” rating in a report on Monday. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Concentra Group Holdings Parent has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

Concentra Group Holdings Parent Stock Up 1.6%

Shares of NYSE CON opened at $35.10 on Tuesday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 3.22. The company has a market cap of $4.48 billion, a price-to-earnings ratio of 22.65, a PEG ratio of 1.29 and a beta of 0.62. Concentra Group Holdings Parent has a 12 month low of $18.55 and a 12 month high of $35.15. The stock has a 50-day moving average price of $30.53 and a two-hundred day moving average price of $25.79.

Concentra Group Holdings Parent (NYSE:CON) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.10. The company had revenue of $606.03 million for the quarter, compared to the consensus estimate of $591.75 million. Concentra Group Holdings Parent had a net margin of 8.69% and a return on equity of 47.81%. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period last year, the company posted $0.37 EPS. As a group, analysts forecast that Concentra Group Holdings Parent will post 1.6 earnings per share for the current fiscal year.

Concentra Group Holdings Parent Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Thursday, August 20th will be issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, August 20th. Concentra Group Holdings Parent’s payout ratio is presently 16.13%.

Insider Transactions at Concentra Group Holdings Parent

In other Concentra Group Holdings Parent news, Director Robert A. Ortenzio sold 130,000 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $31.84, for a total value of $4,139,200.00. Following the completion of the transaction, the director directly owned 503,455 shares in the company, valued at approximately $16,030,007.20. This represents a 20.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 390,000 shares of company stock valued at $11,354,200. Corporate insiders own 8.10% of the company’s stock.

Institutional Trading of Concentra Group Holdings Parent

Several institutional investors have recently modified their holdings of CON. EverSource Wealth Advisors LLC increased its holdings in Concentra Group Holdings Parent by 124.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,195 shares of the company’s stock valued at $25,000 after purchasing an additional 663 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in 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 buying an additional 1,392 shares during the period. Public Employees Retirement System of Ohio grew its position in shares of Concentra Group Holdings Parent by 49.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,604 shares of the company’s stock valued at $34,000 after buying an additional 528 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Concentra Group Holdings Parent in the 4th quarter valued at about $35,000. Finally, Osaic Holdings Inc. increased its stake in shares of Concentra Group Holdings Parent by 59.5% in the second quarter. Osaic Holdings Inc. now owns 2,041 shares of the company’s stock valued at $42,000 after buying an additional 761 shares during the period.

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.