Truist Financial Issues Positive Forecast for Cross Country Healthcare (NASDAQ:CCRN) Stock Price

Cross Country Healthcare (NASDAQ:CCRN) had its price target hoisted by Truist Financial from $10.00 to $13.25 in a research note issued to investors on Monday morning,Benzinga reports. Truist Financial currently has a hold rating on the business services provider’s stock.

Several other brokerages also recently issued reports on CCRN. Wedbush downgraded shares of Cross Country Healthcare from an “outperform” rating to a “hold” rating and lowered their price objective for the stock from $15.00 to $13.25 in a research report on Thursday, May 7th. Zacks Research raised shares of Cross Country Healthcare from a “strong sell” rating to a “hold” rating in a research report on Monday, January 19th. Cross Research set a $14.00 price objective on shares of Cross Country Healthcare in a research report on Thursday, March 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of Cross Country Healthcare in a research report on Friday, March 27th. Finally, Citizens Jmp downgraded shares of Cross Country Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 7th. Nine analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $12.72.

Cross Country Healthcare Stock Performance

CCRN opened at $13.12 on Monday. The firm’s fifty day moving average is $9.86 and its two-hundred day moving average is $9.66. The firm has a market cap of $422.46 million, a PE ratio of -4.30, a price-to-earnings-growth ratio of 13.87 and a beta of 0.35. Cross Country Healthcare has a twelve month low of $7.43 and a twelve month high of $14.99.

Cross Country Healthcare (NASDAQ:CCRN) last posted its earnings results on Thursday, May 7th. The business services provider reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.02. The company had revenue of $241.06 million for the quarter, compared to analyst estimates of $237.07 million. Cross Country Healthcare had a negative net margin of 9.84% and a negative return on equity of 0.74%. Equities analysts forecast that Cross Country Healthcare will post 0.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets lifted its stake in Cross Country Healthcare by 50.0% in the second quarter. BNP Paribas Financial Markets now owns 3,424 shares of the business services provider’s stock valued at $45,000 after acquiring an additional 1,142 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Cross Country Healthcare in the fourth quarter valued at $46,000. Tower Research Capital LLC TRC lifted its stake in Cross Country Healthcare by 422.0% in the second quarter. Tower Research Capital LLC TRC now owns 3,586 shares of the business services provider’s stock valued at $47,000 after acquiring an additional 2,899 shares during the last quarter. Graham Capital Management L.P. acquired a new stake in Cross Country Healthcare in the fourth quarter valued at $83,000. Finally, AXQ Capital LP acquired a new stake in Cross Country Healthcare in the fourth quarter valued at $109,000. Institutional investors own 96.03% of the company’s stock.

About Cross Country Healthcare

Cross Country Healthcare, Inc, headquartered in Boca Raton, Florida, is a leading provider of healthcare workforce solutions in the United States. The company specializes in the recruitment, placement and management of nursing and allied health professionals on both a travel and permanent basis. Through its integrated platform, Cross Country Healthcare serves hospitals, health systems, and long-term care facilities by matching qualified clinical talent with patient care needs across diverse care settings.

The company’s core service offerings include travel nurse and allied health staffing, per diem staffing, permanent placement services, and managed services programs.