Cross Country Healthcare, Inc. (CCRN) Earns Buy Rating from Cantor Fitzgerald
Cross Country Healthcare, Inc. (NASDAQ:CCRN)‘s stock had its “buy” rating reiterated by research analysts at Cantor Fitzgerald in a research note issued to investors on Wednesday. They presently have a $18.00 price target on the business services provider’s stock. Cantor Fitzgerald’s target price would indicate a potential upside of 31.87% from the company’s previous close.
The analysts wrote, “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).””
Other equities research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Cross Country Healthcare from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a report on Monday, August 7th. TheStreet raised shares of Cross Country Healthcare from a “c+” rating to a “b” rating in a report on Wednesday, September 27th. Benchmark Co. reissued a “buy” rating and issued a $17.00 price target (down previously from $18.00) on shares of Cross Country Healthcare 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 assigned a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $15.79.
Cross Country Healthcare (NASDAQ:CCRN) last announced its quarterly earnings results on Tuesday, October 31st. The business services provider reported $0.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.05. The firm had revenue of $228.50 million for the quarter, compared to analyst estimates of $228.97 million. Cross Country Healthcare had a net margin of 1.06% and a return on equity of 12.78%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.24 EPS.
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In other news, insider William J. Grubbs sold 49,113 shares of the business’s stock in a transaction on 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.90% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the company. LS Investment Advisors LLC boosted its stake in shares of Cross Country Healthcare by 484.5% in the 1st quarter. LS Investment Advisors LLC now owns 7,184 shares of the business services provider’s stock valued at $103,000 after purchasing an additional 5,955 shares in the last quarter. Globeflex Capital L P acquired a new stake in shares of Cross Country Healthcare in the 1st quarter valued at $104,000. Mason Street Advisors LLC boosted its stake in shares of Cross Country Healthcare by 6.9% in the 1st quarter. Mason Street Advisors LLC now owns 7,713 shares of the business services provider’s stock valued at $111,000 after purchasing an additional 499 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Cross Country Healthcare by 57.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,998 shares of the business services provider’s stock valued at $129,000 after purchasing an additional 3,660 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Cross Country Healthcare in the 1st quarter valued at $157,000. 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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