Cross Country Healthcare (NASDAQ:CCRN) Price Target Raised to $12.00

Cross Country Healthcare (NASDAQ:CCRN) had its price objective upped by BMO Capital Markets from $10.00 to $12.00 in a research note issued to investors on Wednesday, Stock Target Advisor reports. BMO Capital Markets currently has a market perform rating on the business services provider’s stock.

Other analysts also recently issued reports about the company. ValuEngine downgraded Cross Country Healthcare from a buy rating to a hold rating in a research report on Wednesday, October 2nd. BidaskClub downgraded Cross Country Healthcare from a buy rating to a hold rating in a research report on Saturday, September 14th. Finally, Zacks Investment Research raised Cross Country Healthcare from a hold rating to a strong-buy rating and set a $12.00 target price for the company in a research report on Tuesday, October 1st. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of Buy and an average price target of $11.33.

NASDAQ CCRN opened at $12.66 on Wednesday. The business has a 50 day simple moving average of $10.51 and a 200 day simple moving average of $9.25. The stock has a market capitalization of $418.70 million, a P/E ratio of 105.50, a P/E/G ratio of 14.17 and a beta of 1.28. Cross Country Healthcare has a one year low of $6.75 and a one year high of $12.99. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.99 and a quick ratio of 1.99.

Cross Country Healthcare (NASDAQ:CCRN) last issued its quarterly earnings results on Tuesday, November 5th. The business services provider reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.04. Cross Country Healthcare had a positive return on equity of 1.24% and a negative net margin of 9.44%. The business had revenue of $209.20 million for the quarter, compared to analyst estimates of $202.60 million. During the same period last year, the company posted $0.02 earnings per share. Cross Country Healthcare’s quarterly revenue was up 4.2% compared to the same quarter last year. Equities analysts expect that Cross Country Healthcare will post 0.09 earnings per share for the current year.

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In other news, Director W Larry Cash bought 5,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was acquired at an average cost of $12.39 per share, with a total value of $61,950.00. Following the completion of the transaction, the director now directly owns 139,306 shares of the company’s stock, valued at approximately $1,726,001.34. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 3.80% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Boston Partners purchased a new position in shares of Cross Country Healthcare in the second quarter valued at $877,000. Sio Capital Management LLC purchased a new position in shares of Cross Country Healthcare in the second quarter valued at $2,427,000. Public Employees Retirement System of Ohio purchased a new position in shares of Cross Country Healthcare in the second quarter valued at $276,000. Wedge Capital Management L L P NC purchased a new position in shares of Cross Country Healthcare in the third quarter valued at $1,303,000. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of Cross Country Healthcare by 481.4% in the second quarter. Jacobs Levy Equity Management Inc. now owns 260,315 shares of the business services provider’s stock valued at $2,442,000 after purchasing an additional 215,541 shares in the last quarter. Institutional investors own 93.15% of the company’s stock.

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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