Cross Country Healthcare (CCRN) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Cross Country Healthcare (NASDAQ:CCRN) from a sell rating to a hold rating in a research report released on Friday morning.

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. “

Other research analysts also recently issued research reports about the stock. ValuEngine downgraded shares of Cross Country Healthcare from a sell rating to a strong sell rating in a research note on Saturday, September 22nd. BidaskClub downgraded shares of Cross Country Healthcare from a buy rating to a hold rating in a research note on Thursday, September 13th. Stephens initiated coverage on shares of Cross Country Healthcare in a research note on Tuesday, October 2nd. They issued an equal weight rating on the stock. Lake Street Capital upgraded shares of Cross Country Healthcare from a hold rating to a buy rating and upped their target price for the stock from $10.00 to $12.00 in a research note on Friday, November 2nd. Finally, Barrington Research set a $13.00 target price on shares of Cross Country Healthcare and gave the stock a buy rating in a research note on Wednesday, September 19th. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $12.29.

Shares of CCRN opened at $9.06 on Friday. The stock has a market capitalization of $328.79 million, a price-to-earnings ratio of 14.85, a price-to-earnings-growth ratio of 4.68 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 $14.49.

Cross Country Healthcare (NASDAQ:CCRN) last announced its quarterly earnings data on Thursday, November 1st. The business services provider reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.01). The business had revenue of $200.72 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the company posted $0.23 EPS. As a group, equities analysts predict that Cross Country Healthcare will post 0.17 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Alambic Investment Management L.P. bought a new position in Cross Country Healthcare during the second quarter valued at approximately $122,000. Jane Street Group LLC bought a new position in Cross Country Healthcare during the second quarter valued at approximately $138,000. Panagora Asset Management Inc. lifted its position in Cross Country Healthcare by 150.6% during the third quarter. Panagora Asset Management Inc. now owns 13,881 shares of the business services provider’s stock valued at $121,000 after purchasing an additional 8,342 shares during the period. SG Americas Securities LLC bought a new position in Cross Country Healthcare during the second quarter valued at approximately $177,000. Finally, Laurion Capital Management LP bought a new position in Cross Country Healthcare during the second quarter valued at approximately $219,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Cross Country Healthcare Company Profile

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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