Cross Country Healthcare (NASDAQ:CCRN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.

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. “

CCRN has been the subject of a number of other research reports. Credit Suisse Group started coverage on shares of Cross Country Healthcare in a report on Tuesday, November 7th. They set a “neutral” rating and a $13.00 price objective for the company. BMO Capital Markets cut their price target on shares of Cross Country Healthcare from $15.00 to $14.00 and set an “outperform” rating on the stock in a research note on Monday, November 6th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $18.00 price target on shares of Cross Country Healthcare in a research note on Wednesday, November 1st. BidaskClub lowered shares of Cross Country Healthcare from a “hold” rating to a “sell” rating in a research note on Thursday, December 21st. Finally, TheStreet lowered shares of Cross Country Healthcare from a “b-” rating to a “c+” rating in a research note on Friday, November 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $15.31.

Shares of Cross Country Healthcare (CCRN) traded down $0.01 during midday trading on Wednesday, reaching $12.94. 125,124 shares of the company were exchanged, compared to its average volume of 197,591. The firm has a market capitalization of $470.78, a PE ratio of 647.00, a P/E/G ratio of 1.68 and a beta of 0.75. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.14 and a current ratio of 2.14. Cross Country Healthcare has a 52-week low of $11.07 and a 52-week high of $16.38.

Cross Country Healthcare (NASDAQ:CCRN) last issued its quarterly earnings data on Wednesday, November 1st. The business services provider reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.05. The firm had revenue of $228.50 million during the quarter, compared to analysts’ expectations of $228.97 million. Cross Country Healthcare had a net margin of 0.19% and a return on equity of 11.69%. 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 company earned $0.24 earnings per share. analysts forecast that Cross Country Healthcare will post 0.64 EPS for the current year.

In related news, Director Thomas C. Dircks purchased 10,000 shares of the business’s stock in a transaction on Monday, November 6th. The shares were purchased at an average price of $11.77 per share, with a total value of $117,700.00. Following the completion of the purchase, the director now owns 104,571 shares in the company, valued at approximately $1,230,800.67. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Susan E. Ball sold 25,000 shares of Cross Country Healthcare stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $14.19, for a total transaction of $354,750.00. Following the completion of the transaction, the general counsel now directly owns 126,921 shares in the company, valued at approximately $1,801,008.99. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Alliancebernstein L.P. lifted its position in shares of Cross Country Healthcare by 8.7% in the second quarter. Alliancebernstein L.P. now owns 40,095 shares of the business services provider’s stock worth $518,000 after purchasing an additional 3,200 shares in the last quarter. DUPONT CAPITAL MANAGEMENT Corp bought a new stake in shares of Cross Country Healthcare in the fourth quarter worth $309,000. CIBC World Markets bought a new stake in shares of Cross Country Healthcare in the fourth quarter worth $2,563,000. ClariVest Asset Management LLC bought a new stake in shares of Cross Country Healthcare in the fourth quarter worth $2,077,000. Finally, California State Teachers Retirement System lifted its position in shares of Cross Country Healthcare by 1.9% in the fourth quarter. California State Teachers Retirement System now owns 59,660 shares of the business services provider’s stock worth $978,000 after purchasing an additional 1,111 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

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About Cross Country Healthcare

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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