Cantor Fitzgerald Reaffirms Buy Rating for Cross Country Healthcare, Inc. (CCRN)

Cantor Fitzgerald restated their buy rating on shares of Cross Country Healthcare, Inc. (NASDAQ:CCRN) in a research note released on Wednesday. The brokerage currently has a $18.00 target price on the business services provider’s stock.

“CCRN positioned the July 2017 acquisition of Advantage RN as a positive, and 3Q17 results released 11/1 bear that out, with stronger revenue and higher margins than we had expected (on a pro-forma basis).”,” Cantor Fitzgerald’s analyst wrote.

A number of other analysts have also recently weighed in on CCRN. TheStreet raised shares of Cross Country Healthcare from a c+ rating to a b rating in a research report on Wednesday, September 27th. Benchmark Co. cut their price objective on shares of Cross Country Healthcare from $18.00 to $17.00 and set a buy rating on the stock in a report on Thursday, August 3rd. Zacks Investment Research lowered shares of Cross Country Healthcare from a buy rating to a hold rating in a report on Wednesday, August 9th. Finally, BidaskClub lowered shares of Cross Country Healthcare from a sell rating to a strong sell rating in a report on Monday, July 24th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $15.79.

Shares of Cross Country Healthcare (NASDAQ CCRN) opened at $12.11 on Wednesday. The company has a current ratio of 2.14, a quick ratio of 2.24 and a debt-to-equity ratio of 0.46. Cross Country Healthcare has a 12-month low of $11.07 and a 12-month high of $16.38. The firm has a market cap of $441.94, a price-to-earnings ratio of 18.92, a P/E/G ratio of 1.07 and a beta of 0.77.

Cross Country Healthcare (NASDAQ:CCRN) last announced its quarterly earnings results on Wednesday, November 1st. The business services provider reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.05. Cross Country Healthcare had a net margin of 0.19% and a return on equity of 11.69%. The firm had revenue of $228.50 million during the quarter, compared to analysts’ expectations of $228.97 million. During the same period in the prior year, the company earned $0.24 EPS. The firm’s revenue was up 6.3% on a year-over-year basis. analysts anticipate that Cross Country Healthcare will post 0.66 earnings per share for the current year.

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In other news, insider William J. Grubbs sold 49,113 shares of the company’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $12.16, for a total value of $597,214.08. Following the sale, the insider now owns 395,188 shares in the company, valued at approximately $4,805,486.08. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 3.90% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Cross Country Healthcare by 4.7% during the second quarter. Vanguard Group Inc. now owns 1,919,676 shares of the business services provider’s stock worth $24,783,000 after acquiring an additional 86,718 shares during the period. Benefit Street Partners LLC raised its stake in Cross Country Healthcare by 30.9% during the second quarter. Benefit Street Partners LLC now owns 1,544,440 shares of the business services provider’s stock worth $19,939,000 after acquiring an additional 364,229 shares during the period. Simcoe Capital Management LLC raised its stake in Cross Country Healthcare by 120.9% during the second quarter. Simcoe Capital Management LLC now owns 1,227,590 shares of the business services provider’s stock worth $15,848,000 after acquiring an additional 671,885 shares during the period. State Street Corp raised its stake in Cross Country Healthcare by 9.8% during the second quarter. State Street Corp now owns 876,998 shares of the business services provider’s stock worth $11,323,000 after acquiring an additional 78,451 shares during the period. Finally, Royce & Associates LP raised its stake in Cross Country Healthcare by 36.7% during the second quarter. Royce & Associates LP now owns 792,464 shares of the business services provider’s stock worth $10,231,000 after acquiring an additional 212,778 shares during the period. Hedge funds and other institutional investors own 95.64% of the company’s stock.

Cross Country Healthcare Company Profile

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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