Cross Country Healthcare, Inc. (CCRN) Receives $12.86 Average Target Price from Analysts

Cross Country Healthcare, Inc. (NASDAQ:CCRN) has received an average rating of “Hold” from the thirteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $13.00.

A number of equities research analysts recently commented on CCRN shares. ValuEngine lowered Cross Country Healthcare from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 22nd. Zacks Investment Research lowered Cross Country Healthcare from a “hold” rating to a “sell” rating in a research report on Monday, September 3rd. BidaskClub downgraded Cross Country Healthcare from a “buy” rating to a “hold” rating in a report on Thursday, September 13th. Stephens started coverage on Cross Country Healthcare in a report on Tuesday, October 2nd. They issued an “equal weight” rating for the company. Finally, Barrington Research set a $13.00 price target on Cross Country Healthcare and gave the company a “buy” rating in a report on Wednesday, September 19th.

Shares of NASDAQ CCRN opened at $9.52 on Thursday. The company has a market capitalization of $345.53 million, a P/E ratio of 31.73, a PEG ratio of 3.23 and a beta of 0.74. Cross Country Healthcare has a 52 week low of $7.41 and a 52 week high of $14.49. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.33 and a current ratio of 2.33.

Cross Country Healthcare (NASDAQ:CCRN) last issued its earnings results on Thursday, November 1st. The business services provider reported $0.02 EPS for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.01). The firm had revenue of $200.72 million during the quarter, compared to analysts’ expectations of $200.66 million. Cross Country Healthcare had a net margin of 3.67% and a return on equity of 4.43%. Cross Country Healthcare’s quarterly revenue was down 12.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.23 EPS. Sell-side analysts predict that Cross Country Healthcare will post 0.24 earnings per share for the current fiscal year.

In related news, Director Thomas C. Dircks purchased 11,000 shares of the firm’s stock in a transaction on Wednesday, August 8th. The stock was bought at an average cost of $9.07 per share, with a total value of $99,770.00. Following the completion of the acquisition, the director now owns 134,595 shares of the company’s stock, valued at approximately $1,220,776.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Trunfio purchased 10,650 shares of the firm’s stock in a transaction on Friday, August 10th. The stock was bought at an average cost of $9.43 per share, with a total value of $100,429.50. Following the completion of the acquisition, the director now directly owns 139,034 shares of the company’s stock, valued at approximately $1,311,090.62. The disclosure for this purchase can be found here. Insiders acquired 37,341 shares of company stock valued at $344,203 over the last three months. 3.40% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the business. Northern Trust Corp raised its stake in shares of Cross Country Healthcare by 1.0% during the 1st quarter. Northern Trust Corp now owns 463,890 shares of the business services provider’s stock worth $5,153,000 after buying an additional 4,563 shares during the period. Principal Financial Group Inc. raised its stake in shares of Cross Country Healthcare by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 279,246 shares of the business services provider’s stock worth $3,102,000 after buying an additional 6,255 shares during the period. Barclays PLC raised its stake in shares of Cross Country Healthcare by 118.6% during the 1st quarter. Barclays PLC now owns 12,283 shares of the business services provider’s stock worth $136,000 after buying an additional 6,665 shares during the period. Alambic Investment Management L.P. acquired a new position in shares of Cross Country Healthcare during the 2nd quarter worth approximately $122,000. Finally, Jane Street Group LLC acquired a new position in shares of Cross Country Healthcare during the 2nd quarter worth approximately $138,000. 89.94% of the stock is owned by institutional investors.

Cross Country Healthcare Company Profile

Cross Country Healthcare, Inc provides healthcare staffing, recruiting, and workforce solutions in the United States. The company operates in three segments: Nurse and Allied Staffing, Physician Staffing, and Other Human Capital Management Services. The Nurse and Allied Staffing segment offers traditional staffing, including temporary and permanent placement of travel nurses and allied professionals, branch-based local nurses, and allied staffing; short-term staffing of registered nurses, licensed practical nurses, certified nurse assistants, practitioners, pharmacists, and other allied professionals on per diem and short-term assignments; and travel allied professionals on long-term contract assignments.

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Analyst Recommendations for Cross Country Healthcare (NASDAQ:CCRN)

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