AMN Healthcare Services (NYSE:AMN) Trading Up 10% - Still a Buy?

Key Points

• AMN Healthcare Services shares surged 10% to $18.14, despite a 33% decline in trading volume compared to its average session.
• Equity analysts have recently revised their target prices significantly downward, with ratings ranging from "buy" to "hold", reflecting a consensus rating of "Hold" and an average target price of $28.25.
• The company reported EPS of $0.30 in its last earnings release, surpassing expectations, but revenue decreased 11.1% year-over-year to $658.18 million.

AMN Healthcare Services Inc (NYSE:AMN - Get Free Report) shares shot up 10% on Tuesday . The company traded as high as $18.00 and last traded at $18.14. 584,815 shares were traded during mid-day trading, a decline of 33% from the average session volume of 871,353 shares. The stock had previously closed at $16.49.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. JMP Securities cut their price objective on AMN Healthcare Services from $33.00 to $22.00 and set a "market outperform" rating for the company in a research report on Tuesday, August 12th. BMO Capital Markets set a $22.00 price target on shares of AMN Healthcare Services and gave the company an "outperform" rating in a research note on Monday, August 11th. Finally, UBS Group reduced their target price on shares of AMN Healthcare Services from $30.00 to $25.50 and set a "neutral" rating for the company in a report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $28.25.

AMN Healthcare Services Trading Up 1.3%

The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.51. The firm's 50-day moving average is $20.22 and its 200 day moving average is $21.78. The firm has a market capitalization of $724.63 million, a price-to-earnings ratio of -2.43 and a beta of 0.10.

AMN Healthcare Services (NYSE:AMN - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.30 earnings per share for the quarter, topping analysts' consensus estimates of $0.17 by $0.13. AMN Healthcare Services had a negative net margin of 10.75% and a positive return on equity of 11.09%. The company had revenue of $658.18 million for the quarter, compared to the consensus estimate of $652.89 million. During the same period in the previous year, the firm earned $0.98 EPS. The firm's quarterly revenue was down 11.1% on a year-over-year basis. On average, equities analysts predict that AMN Healthcare Services Inc will post 1.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AMN Healthcare Services

Large investors have recently made changes to their positions in the company. Yousif Capital Management LLC raised its stake in AMN Healthcare Services by 3.2% during the 2nd quarter. Yousif Capital Management LLC now owns 17,027 shares of the company's stock valued at $352,000 after purchasing an additional 534 shares during the period. Cresset Asset Management LLC boosted its position in AMN Healthcare Services by 5.6% during the fourth quarter. Cresset Asset Management LLC now owns 10,761 shares of the company's stock valued at $257,000 after purchasing an additional 566 shares in the last quarter. Golden State Wealth Management LLC raised its stake in AMN Healthcare Services by 107.0% in the first quarter. Golden State Wealth Management LLC now owns 1,159 shares of the company's stock valued at $28,000 after buying an additional 599 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in AMN Healthcare Services by 7.9% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,829 shares of the company's stock valued at $203,000 after buying an additional 718 shares during the last quarter. Finally, SummerHaven Investment Management LLC raised its stake in shares of AMN Healthcare Services by 4.8% in the second quarter. SummerHaven Investment Management LLC now owns 17,083 shares of the company's stock worth $353,000 after purchasing an additional 777 shares during the last quarter. 99.23% of the stock is currently owned by institutional investors.

About AMN Healthcare Services

AMN Healthcare Services, Inc provides healthcare workforce solutions and staffing services to healthcare facilities in the United States. It operates through three segments: Nurse and Allied Solutions, Physician and Leadership Solutions, and Technology and Workforce Solutions. The Nurse and Allied Solutions segment offers travel nurse staffing, labor disruption staffing, local staffing, international nurse and allied permanent placement, and allied staffing solutions.