Cross Country Healthcare, Inc. (NASDAQ:CCRN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, August 9th.
According to Zacks, “Cross Country, Inc. is a provider of healthcare staffing services. They also provide staffing of clinical research professionals and allied healthcare professionals, such as radiology technicians, rehabilitation therapists and respiratory therapists. Their staffing operations are complemented by other human capital management services, including search and recruitment, consulting, education and training and resource management services. “
Several other analysts have also recently commented on the stock. Benchmark Co. reduced their target price on shares of Cross Country Healthcare from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, May 4th. BMO Capital Markets reduced their target price on shares of Cross Country Healthcare from $18.00 to $15.00 and set an “outperform” rating for the company in a research note on Friday, May 5th. BidaskClub cut shares of Cross Country Healthcare from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Finally, UBS AG reiterated a “buy” rating and issued a $15.00 target price (down from $16.50) on shares of Cross Country Healthcare in a research note on Wednesday, June 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $15.64.
Cross Country Healthcare (NASDAQ:CCRN) traded down 0.81% during trading on Wednesday, hitting $12.32. The company had a trading volume of 304,565 shares. The firm’s 50 day moving average is $12.37 and its 200-day moving average is $13.33. The stock has a market capitalization of $449.61 million, a price-to-earnings ratio of 45.46 and a beta of 0.83. Cross Country Healthcare has a 52-week low of $10.88 and a 52-week high of $16.38.
Cross Country Healthcare (NASDAQ:CCRN) last posted its quarterly earnings results on Wednesday, August 2nd. The business services provider reported $0.16 EPS for the quarter, topping the consensus estimate of $0.09 by $0.07. The business had revenue of $209.31 million during the quarter, compared to analysts’ expectations of $209.92 million. Cross Country Healthcare had a net margin of 1.06% and a return on equity of 12.78%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the company posted $0.16 earnings per share. On average, equities analysts forecast that Cross Country Healthcare will post $0.61 earnings per share for the current year.
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Large investors have recently made changes to their positions in the stock. LS Investment Advisors LLC raised its stake in shares of Cross Country Healthcare by 484.5% in the first quarter. LS Investment Advisors LLC now owns 7,184 shares of the business services provider’s stock valued at $103,000 after buying an additional 5,955 shares during the period. Globeflex Capital L P purchased a new stake in Cross Country Healthcare during the first quarter valued at $104,000. Mason Street Advisors LLC raised its stake in Cross Country Healthcare by 6.9% in the first quarter. Mason Street Advisors LLC now owns 7,713 shares of the business services provider’s stock valued at $111,000 after buying an additional 499 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in Cross Country Healthcare by 57.7% in the second quarter. BNP Paribas Arbitrage SA now owns 9,998 shares of the business services provider’s stock valued at $129,000 after buying an additional 3,660 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in Cross Country Healthcare during the first quarter valued at $157,000. 89.74% of the stock is currently owned by hedge funds and other institutional investors.
About Cross Country Healthcare
Cross Country Healthcare, Inc is engaged in providing healthcare recruiting, staffing, recruiting and workforce solutions. The Company operates in three segments: Nurse and Allied Staffing, Physician Staffing and Other Human Capital Management Services. The Nurse and Allied Staffing segment provides traditional staffing, including temporary and permanent placement of travel nurses and allied professionals, and branch-based local nurses and allied staffing.
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