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

Key Points

• Concentra Group Holdings Parent has a consensus analyst rating of "Moderate Buy", with six buy ratings and one hold rating. The average 12-month price target among covering brokers is $30.20.
• The company reported better-than-expected Q1 results, earning $0.40 per share versus estimates of $0.35, while revenue rose 13.7% year over year to $569.56 million.
• Insider and institutional activity has been active: Director Robert A. Ortenzio sold 130,000 shares in a pre-arranged transaction, while several large investors, including State Street and JPMorgan, increased their holdings.

Shares of Concentra Group Holdings Parent, Inc. (NYSE:CON - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the seven research firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $30.20.

A number of research analysts have commented on CON shares. Wells Fargo & Company upped their price objective on Concentra Group Holdings Parent from $25.00 to $28.00 and gave the company an "overweight" rating in a report on Thursday, March 5th. Weiss Ratings raised Concentra Group Holdings Parent from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, May 11th. Truist Financial reaffirmed a "buy" rating and issued a $31.00 price objective (up from $29.00) on shares of Concentra Group Holdings Parent in a report on Monday, May 11th. Finally, The Goldman Sachs Group initiated coverage on Concentra Group Holdings Parent in a research report on Friday, June 5th. They set a "buy" rating and a $30.00 price target on the stock.

Insider Transactions at Concentra Group Holdings Parent

In related news, Director Robert A. Ortenzio sold 130,000 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $25.00, for a total transaction of $3,250,000.00. Following the sale, the director owned 763,455 shares of the company's stock, valued at $19,086,375. This represents a 14.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 8.10% of the stock is owned by corporate insiders.

Institutional Trading of Concentra Group Holdings Parent

Several large investors have recently made changes to their positions in the company. State Street Corp raised its position in Concentra Group Holdings Parent by 0.5% during the fourth quarter. State Street Corp now owns 4,446,551 shares of the company's stock valued at $87,508,000 after purchasing an additional 22,442 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Concentra Group Holdings Parent by 13.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,874,283 shares of the company's stock valued at $81,089,000 after purchasing an additional 445,449 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Concentra Group Holdings Parent by 4.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,107,254 shares of the company's stock valued at $66,645,000 after purchasing an additional 144,379 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Concentra Group Holdings Parent by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 2,851,717 shares of the company's stock valued at $56,130,000 after purchasing an additional 19,122 shares during the last quarter. Finally, Woodline Partners LP raised its holdings in shares of Concentra Group Holdings Parent by 142.7% during the 3rd quarter. Woodline Partners LP now owns 2,746,505 shares of the company's stock worth $57,484,000 after buying an additional 1,614,988 shares in the last quarter.

Concentra Group Holdings Parent Stock Performance

Shares of NYSE CON opened at $28.14 on Monday. The company has a debt-to-equity ratio of 3.62, a current ratio of 1.26 and a quick ratio of 1.26. The stock's fifty day moving average price is $24.04 and its two-hundred day moving average price is $22.42. Concentra Group Holdings Parent has a one year low of $18.55 and a one year high of $28.21. The firm has a market cap of $3.60 billion, a price-to-earnings ratio of 20.24, a P/E/G ratio of 1.28 and a beta of 0.82.

Concentra Group Holdings Parent (NYSE:CON - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.40 EPS for the quarter, beating analysts' consensus estimates of $0.35 by $0.05. Concentra Group Holdings Parent had a return on equity of 47.14% and a net margin of 7.97%.The firm had revenue of $569.56 million for the quarter, compared to analyst estimates of $553.53 million. During the same period in the prior year, the firm posted $0.32 EPS. The company's revenue for the quarter was up 13.7% on a year-over-year basis. On average, equities analysts forecast that Concentra Group Holdings Parent will post 1.53 EPS for the current year.

Concentra Group Holdings Parent Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Tuesday, May 19th were given a dividend of $0.0625 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.25 dividend on an annualized basis and a yield of 0.9%. Concentra Group Holdings Parent's dividend payout ratio is currently 17.99%.

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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