Cross Country Healthcare Inc. (CCRN) Downgraded to “Sell” at Zacks Investment Research
Cross Country Healthcare Inc. (NASDAQ:CCRN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.
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. “
Other equities research analysts have also recently issued reports about the company. Cantor Fitzgerald reissued a “buy” rating on shares of Cross Country Healthcare in a report on Sunday, July 17th. TheStreet cut Cross Country Healthcare from a “buy” rating to a “hold” rating in a report on Friday, August 5th. Finally, BMO Capital Markets reissued a “buy” rating and set a $16.00 price target on shares of Cross Country Healthcare in a report on Friday, August 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $16.33.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/11/cross-country-healthcare-inc-ccrn-downgraded-to-sell-at-zacks-investment-research.html
Cross Country Healthcare (NASDAQ:CCRN) traded down 1.70% on Tuesday, reaching $12.16. The company’s stock had a trading volume of 77,752 shares. Cross Country Healthcare has a one year low of $9.72 and a one year high of $18.76. The company’s market capitalization is $401.09 million. The firm has a 50-day moving average of $12.05 and a 200-day moving average of $13.10.
Cross Country Healthcare (NASDAQ:CCRN) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.16 EPS for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.03. The business had revenue of $199.40 million for the quarter, compared to analysts’ expectations of $203.56 million. Cross Country Healthcare had a return on equity of 25.27% and a net margin of 0.09%. The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period last year, the firm earned $0.10 earnings per share. Analysts predict that Cross Country Healthcare will post $0.62 EPS for the current year.
In other news, Director Thomas C. Dircks acquired 10,000 shares of the business’s stock in a transaction dated Wednesday, August 17th. The stock was purchased at an average price of $10.75 per share, for a total transaction of $107,500.00. Following the completion of the transaction, the director now directly owns 95,264 shares in the company, valued at approximately $1,024,088. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director W Larry Cash acquired 3,000 shares of the business’s stock in a transaction dated Friday, August 12th. The shares were purchased at an average price of $12.22 per share, with a total value of $36,660.00. Following the transaction, the director now owns 99,253 shares of the company’s stock, valued at $1,212,871.66. The disclosure for this purchase can be found here. Insiders own 4.20% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Foundry Partners LLC raised its position in shares of Cross Country Healthcare by 26.7% in the third quarter. Foundry Partners LLC now owns 297,945 shares of the company’s stock worth $3,510,000 after buying an additional 62,870 shares during the last quarter. Aristotle Capital Boston LLC raised its position in shares of Cross Country Healthcare by 3.7% in the second quarter. Aristotle Capital Boston LLC now owns 347,194 shares of the company’s stock worth $4,833,000 after buying an additional 12,438 shares during the last quarter. Royal Bank of Canada raised its position in shares of Cross Country Healthcare by 85.1% in the second quarter. Royal Bank of Canada now owns 715,457 shares of the company’s stock worth $9,960,000 after buying an additional 328,838 shares during the last quarter. Arizona State Retirement System raised its position in shares of Cross Country Healthcare by 2.4% in the second quarter. Arizona State Retirement System now owns 17,054 shares of the company’s stock worth $237,000 after buying an additional 400 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Cross Country Healthcare by 1.6% in the second quarter. AQR Capital Management LLC now owns 133,680 shares of the company’s stock worth $1,861,000 after buying an additional 2,146 shares during the last quarter. Hedge funds and other institutional investors own 96.46% of the company’s stock.
Cross Country Healthcare Company Profile
Cross Country Healthcare, Inc (CCRN) is engaged in providing healthcare recruiting, staffing and workforce solutions. The Company operates in three segments: Nurse and Allied Staffing, Physician Staffing and Other Human Capital Management Services. Its nurse and allied staffing segment is engaged in providing traditional staffing, including temporary and permanent placement of travel nurses and allied professionals, and branch-based local nurses and allied staffing through its Cross Country Staffing brand, MSN, AHG, Mediscan and DirectEd brands.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cross Country Healthcare Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cross Country Healthcare Inc. and related companies with MarketBeat.com's FREE daily email newsletter.