Concentra Group Holdings Parent, Inc. (NYSE:CON) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Analyst sentiment is favorable: Eight brokerages give Concentra Group Holdings Parent an average “Moderate Buy” rating, with seven buys and one hold. The average 12-month price target is $31.40, while Truist recently raised its target to $37.
• Recent results exceeded expectations: The company reported quarterly EPS of $0.40 versus the $0.35 consensus estimate, while revenue reached $569.55 million, up 13.7% year over year and above forecasts.
• Shares have performed strongly, but insiders have been selling: CON opened at $31.73 and is near its 52-week high of $32.86. Director Robert A. Ortenzio sold 130,000 shares for roughly $4.0 million, contributing to approximately $10.5 million in insider sales over the past 90 days.

Shares of Concentra Group Holdings Parent, Inc. (NYSE:CON - Get Free Report) have been given an average rating of "Moderate Buy" by the eight ratings firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $31.40.

CON has been the subject of several research analyst reports. The Goldman Sachs Group began coverage on Concentra Group Holdings Parent in a research report on Friday, June 5th. They issued a "buy" rating and a $30.00 price objective for the company. William Blair started coverage on Concentra Group Holdings Parent in a report on Wednesday, July 1st. They set an "outperform" rating on the stock. Truist Financial increased their target price on Concentra Group Holdings Parent from $31.00 to $37.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. Finally, Weiss Ratings upgraded Concentra Group Holdings Parent from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, May 11th.

Concentra Group Holdings Parent Stock Performance

NYSE CON opened at $31.73 on Tuesday. The firm has a market cap of $4.06 billion, a price-to-earnings ratio of 22.83, a PEG ratio of 1.44 and a beta of 0.61. The company has a 50 day moving average of $29.31 and a 200-day moving average of $25.15. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 3.62. Concentra Group Holdings Parent has a 1-year low of $18.55 and a 1-year high of $32.86.

Concentra Group Holdings Parent (NYSE:CON - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.35 by $0.05. The company had revenue of $569.55 million during the quarter, compared to analysts' expectations of $553.53 million. Concentra Group Holdings Parent had a net margin of 7.97% and a return on equity of 47.14%. Concentra Group Holdings Parent's quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 earnings per share. On average, equities analysts forecast that Concentra Group Holdings Parent will post 1.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Concentra Group Holdings Parent news, Director Robert A. Ortenzio sold 130,000 shares of the firm's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $30.50, for a total value of $3,965,000.00. Following the completion of the sale, the director owned 633,455 shares in the company, valued at approximately $19,320,377.50. This trade represents a 17.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 390,000 shares of company stock worth $10,465,000. 8.10% of the stock is owned by corporate insiders.

Institutional Trading of Concentra Group Holdings Parent

Several hedge funds have recently modified their holdings of CON. Royal Bank of Canada lifted its holdings in Concentra Group Holdings Parent by 7.6% during the 1st quarter. Royal Bank of Canada now owns 81,441 shares of the company's stock worth $1,767,000 after buying an additional 5,754 shares in the last quarter. AQR Capital Management LLC acquired a new position in shares of Concentra Group Holdings Parent during the first quarter valued at $293,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Concentra Group Holdings Parent by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,515 shares of the company's stock valued at $1,422,000 after acquiring an additional 2,873 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Concentra Group Holdings Parent by 48.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,329,498 shares of the company's stock worth $28,850,000 after purchasing an additional 434,503 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Concentra Group Holdings Parent by 10.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 210,526 shares of the company's stock worth $4,568,000 after purchasing an additional 19,846 shares during the period.

About Concentra Group Holdings Parent

Concentra Group Holdings Parent NYSE: CON is a Canada-based financial services holding company that specializes in serving Canadian credit unions and their members. Through its operating subsidiaries, the group provides wholesale funding, lending solutions and investment management services tailored to the unique needs of cooperative financial institutions. Concentra’s broad suite of offerings includes trust and custody services, mortgage investment products and equipment financing, all designed to support credit-union growth and stability.

In addition to wholesale funding and lending, Concentra Group Holdings Parent distributes life and general insurance products through affiliated insurance brokers and credit-union channels.

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