Cross Country Healthcare, Inc. (NASDAQ:CCRN) Given Consensus Rating of “Reduce” by Analysts

Cross Country Healthcare, Inc. (NASDAQ:CCRN) has been assigned an average rating of “Reduce” from the ten ratings firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating and nine have given a hold rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $12.05.

CCRN has been the subject of a number of research reports. Citizens Jmp lowered Cross Country Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 7th. Wedbush lowered Cross Country Healthcare from an “outperform” rating to a “hold” rating and decreased their price target for the company from $15.00 to $13.25 in a research note on Thursday, May 7th. Citigroup lowered Cross Country Healthcare from a “market outperform” rating to a “market perform” rating in a research note on Thursday, May 7th. Benchmark lowered Cross Country Healthcare from a “buy” rating to a “hold” rating in a research note on Friday, May 8th. Finally, Weiss Ratings raised Cross Country Healthcare from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 27th.

Institutional Investors Weigh In On Cross Country Healthcare

Institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in Cross Country Healthcare by 42.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 294,845 shares of the business services provider’s stock valued at $4,187,000 after purchasing an additional 88,407 shares during the period. Dana Investment Advisors Inc. raised its stake in Cross Country Healthcare by 71.2% during the 4th quarter. Dana Investment Advisors Inc. now owns 1,008,525 shares of the business services provider’s stock valued at $8,169,000 after purchasing an additional 419,429 shares during the period. Prescott Group Capital Management L.L.C. acquired a new stake in Cross Country Healthcare during the 4th quarter valued at $2,292,000. Pinnacle Associates Ltd. acquired a new stake in Cross Country Healthcare during the 4th quarter valued at $717,000. Finally, Vestcor Inc raised its stake in Cross Country Healthcare by 2,452.7% during the 3rd quarter. Vestcor Inc now owns 61,519 shares of the business services provider’s stock valued at $874,000 after purchasing an additional 59,109 shares during the period. Institutional investors and hedge funds own 96.03% of the company’s stock.

Cross Country Healthcare Stock Performance

Shares of NASDAQ CCRN opened at $13.17 on Friday. The stock has a 50 day simple moving average of $12.00 and a 200-day simple moving average of $9.93. The company has a market cap of $425.52 million, a PE ratio of -4.32, a P/E/G ratio of 14.24 and a beta of 0.45. Cross Country Healthcare has a 12-month low of $7.43 and a 12-month high of $14.99.

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

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.