Concentra Group Holdings Parent (NYSE:CON) Stock Gets Price Target Boost from Wells Fargo & Company

Key Points

• Wells Fargo raised its price target on Concentra Group Holdings Parent from $40 to $48, maintaining an “overweight” rating; the new target implies 13.76% upside from the previous close.
• Analyst sentiment is broadly positive: MarketBeat reports a consensus “Buy” rating and $45 target. Other recent targets range from $42 to $51.
• Concentra beat quarterly estimates, reporting EPS of $0.52 versus $0.44 expected and revenue of $622.12 million versus $605.52 million; revenue grew 8.6% year over year.

Concentra Group Holdings Parent (NYSE:CON - Get Free Report) had its price target raised by Wells Fargo & Company from $40.00 to $48.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's target price points to a potential upside of 13.76% from the stock's previous close.

CON has been the subject of several other reports. Royal Bank Of Canada upped their price target on Concentra Group Holdings Parent from $42.00 to $49.00 and gave the stock an "outperform" rating in a research note on Wednesday. Zacks Research upgraded Concentra Group Holdings Parent from a "hold" rating to a "strong-buy" rating in a report on Monday, August 31st. JPMorgan Chase & Co. lifted their price objective on Concentra Group Holdings Parent from $34.00 to $43.00 and gave the company an "overweight" rating in a research note on Thursday, September 10th. Stephens boosted their target price on Concentra Group Holdings Parent from $45.00 to $51.00 and gave the stock an "overweight" rating in a report on Monday. Finally, Truist Financial increased their target price on shares of Concentra Group Holdings Parent from $37.00 to $42.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $45.00.

Concentra Group Holdings Parent Trading Down 1.8%

Shares of NYSE CON traded down $0.80 during trading on Friday, hitting $42.20. 69,443 shares of the company traded hands, compared to its average volume of 954,751. Concentra Group Holdings Parent has a 1 year low of $18.96 and a 1 year high of $44.22. The company has a 50-day moving average price of $37.71 and a 200-day moving average price of $29.41. The firm has a market capitalization of $5.38 billion, a P/E ratio of 24.96, a P/E/G ratio of 1.37 and a beta of 0.51. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 2.93.

Concentra Group Holdings Parent (NYSE:CON - Get Free Report) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.44 by $0.08. The business had revenue of $622.12 million during the quarter, compared to the consensus estimate of $605.52 million. Concentra Group Holdings Parent had a return on equity of 48.11% and a net margin of 9.26%. The business's revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.39 EPS. On average, equities analysts predict that Concentra Group Holdings Parent will post 1.72 EPS for the current year.

Hedge Funds Weigh In On Concentra Group Holdings Parent

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Trust Advisors LP increased its position in shares of Concentra Group Holdings Parent by 95.1% during the third quarter. First Trust Advisors LP now owns 98,624 shares of the company's stock worth $3,395,000 after acquiring an additional 48,075 shares during the last quarter. Private Wealth Asset Management LLC acquired a new position in shares of Concentra Group Holdings Parent in the third quarter worth about $199,000. Russell Investments Group Ltd. lifted its stake in shares of Concentra Group Holdings Parent by 4.2% in the third quarter. Russell Investments Group Ltd. now owns 318,846 shares of the company's stock worth $10,975,000 after acquiring an additional 12,821 shares in the last quarter. R Squared Ltd acquired a new position in shares of Concentra Group Holdings Parent in the third quarter worth about $201,000. Finally, Maryland State Retirement & Pension System boosted its holdings in Concentra Group Holdings Parent by 51.5% in the third quarter. Maryland State Retirement & Pension System now owns 26,318 shares of the company's stock valued at $906,000 after purchasing an additional 8,946 shares during the last quarter.

Concentra Group Holdings Parent Company Profile

Concentra Group Holdings Parent Inc. provides occupational health services to employers and their workforces in the United States. Its services include workplace injury care, occupational medicine, urgent care, physical therapy and employee health programs. The company delivers care through occupational health centers, employer-site clinics and virtual services. Its offerings also support employers with services such as workplace health assessments and workers' compensation-related care. Concentra traces its origins to 1979 and became part of Select Medical in 2015.

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