Brokerages Set Cross Country Healthcare, Inc. (NASDAQ:CCRN) Price Target at $12.72

Shares of Cross Country Healthcare, Inc. (NASDAQ:CCRN) have been given an average recommendation of “Reduce” by the ten ratings firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $12.72.

A number of equities research analysts have issued reports on the stock. Benchmark lowered shares of Cross Country Healthcare from a “buy” rating to a “hold” rating in a report on Friday, May 8th. Citizens Jmp lowered shares of Cross Country Healthcare from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 7th. Citigroup lowered shares of Cross Country Healthcare from a “market outperform” rating to a “market perform” rating in a report on Thursday, May 7th. Cross Research set a $14.00 target price on shares of Cross Country Healthcare in a report on Thursday, March 5th. Finally, Wedbush lowered shares of Cross Country Healthcare from an “outperform” rating to a “hold” rating and reduced their price objective for the company from $15.00 to $13.25 in a report on Thursday, May 7th.

Institutional Investors Weigh In On Cross Country Healthcare

Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in shares of Cross Country Healthcare by 42.8% in 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 in the last quarter. Dana Investment Advisors Inc. raised its holdings in shares of Cross Country Healthcare by 71.2% in 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 in the last quarter. Prescott Group Capital Management L.L.C. acquired a new stake in shares of Cross Country Healthcare in the 4th quarter valued at $2,292,000. Pinnacle Associates Ltd. acquired a new stake in shares of Cross Country Healthcare in the 4th quarter valued at $717,000. Finally, Vestcor Inc raised its holdings in shares of Cross Country Healthcare by 2,452.7% in 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 in the last quarter. 96.03% of the stock is currently owned by institutional investors and hedge funds.

Cross Country Healthcare Stock Performance

Shares of CCRN stock opened at $13.09 on Wednesday. The firm has a market cap of $423.20 million, a P/E ratio of -4.29, a P/E/G ratio of 13.43 and a beta of 0.45. Cross Country Healthcare has a one year low of $7.43 and a one year high of $14.99. The firm’s 50 day moving average price is $10.98 and its 200-day moving average price is $9.72.

Cross Country Healthcare (NASDAQ:CCRN) last released its earnings results on Thursday, May 7th. The business services provider reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. As a group, research analysts predict that Cross Country Healthcare will post 0.1 EPS for the current fiscal year.

Cross Country Healthcare Company Profile

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.