Truist Financial Raises Cross Country Healthcare (NASDAQ:CCRN) Price Target to $17.00

Cross Country Healthcare (NASDAQ:CCRN) had its target price boosted by Truist Financial from $16.00 to $17.00 in a report issued on Thursday morning, Benzinga reports. They currently have a hold rating on the business services provider’s stock.

CCRN has been the topic of a number of other research reports. Benchmark cut their price objective on shares of Cross Country Healthcare from $21.00 to $19.00 and set a buy rating on the stock in a report on Thursday, May 2nd. Barrington Research cut their price target on shares of Cross Country Healthcare from $24.00 to $21.00 and set an outperform rating on the stock in a report on Monday, May 6th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $21.00.

Cross Country Healthcare Stock Performance

Shares of NASDAQ:CCRN opened at $17.11 on Thursday. Cross Country Healthcare has a 52-week low of $12.87 and a 52-week high of $26.17. The firm has a fifty day moving average of $14.76 and a 200 day moving average of $16.97. The firm has a market capitalization of $594.91 million, a PE ratio of 13.16, a price-to-earnings-growth ratio of 2.57 and a beta of 0.63.

Cross Country Healthcare (NASDAQ:CCRN) last posted its quarterly earnings results on Wednesday, July 31st. The business services provider reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.04). The business had revenue of $339.77 million during the quarter, compared to the consensus estimate of $334.75 million. Cross Country Healthcare had a return on equity of 7.29% and a net margin of 0.54%. The business’s revenue for the quarter was down 37.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.69 earnings per share. On average, sell-side analysts forecast that Cross Country Healthcare will post 0.68 EPS for the current fiscal year.

Insider Activity

In other news, insider Phillip Lyn Noe sold 9,646 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $14.19, for a total transaction of $136,876.74. Following the sale, the insider now directly owns 10,162 shares in the company, valued at approximately $144,198.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Phillip Lyn Noe sold 9,646 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $14.19, for a total transaction of $136,876.74. Following the completion of the transaction, the insider now directly owns 10,162 shares of the company’s stock, valued at $144,198.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Marc S. Krug sold 13,657 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $14.82, for a total transaction of $202,396.74. Following the transaction, the insider now directly owns 36,020 shares of the company’s stock, valued at $533,816.40. The disclosure for this sale can be found here. Insiders own 4.90% of the company’s stock.

Hedge Funds Weigh In On Cross Country Healthcare

A number of institutional investors and hedge funds have recently made changes to their positions in CCRN. GAMMA Investing LLC purchased a new position in shares of Cross Country Healthcare during the 4th quarter worth about $28,000. Gladius Capital Management LP boosted its stake in shares of Cross Country Healthcare by 37.1% during the 4th quarter. Gladius Capital Management LP now owns 1,902 shares of the business services provider’s stock worth $43,000 after purchasing an additional 515 shares during the period. nVerses Capital LLC purchased a new position in shares of Cross Country Healthcare during the 2nd quarter worth about $50,000. Denali Advisors LLC boosted its stake in shares of Cross Country Healthcare by 3,885.5% during the 1st quarter. Denali Advisors LLC now owns 5,500 shares of the business services provider’s stock worth $103,000 after purchasing an additional 5,362 shares during the period. Finally, EMC Capital Management purchased a new position in shares of Cross Country Healthcare during the 1st quarter worth about $155,000. 96.03% of the stock is owned by hedge funds and other institutional investors.

About Cross Country Healthcare

Cross Country Healthcare, Inc provides talent management and other consultative services for healthcare clients in the United States. The company's Nurse and Allied Staffing segment provides traditional staffing, recruiting, and value-added total talent solutions, including temporary and permanent placement of travel and local nurse and, allied professionals; temporary placement of healthcare leaders within nursing, allied, physician, and human resources; vendor neutral and managed services programs; education healthcare services; in-home care services; and outsourcing services.