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

Key Points

• Concentra Group Holdings Parent (NYSE:CON) has a consensus broker rating of “Moderate Buy”, based on eight analysts: seven Buy ratings and one Hold. The average 12-month price target is $30.20.
• The company recently beat expectations in its latest quarterly results, reporting $0.40 EPS versus the $0.35 estimate and revenue of $569.55 million, up 13.7% year over year. Analysts now expect full-year earnings of $1.52 per share.
• Insiders and institutions have been active in the stock, with Director Robert A. Ortenzio selling 130,000 shares in July and several hedge funds increasing or initiating positions. The stock was last trading near its 52-week high, and the company also pays a quarterly dividend yielding about 0.8%.

Concentra Group Holdings Parent, Inc. (NYSE:CON - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the eight brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating and seven 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 equities analysts have issued reports on CON shares. William Blair initiated coverage on shares of Concentra Group Holdings Parent in a report on Wednesday, July 1st. They issued an "outperform" rating on the stock. 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 reiterated a "buy" rating and set a $31.00 price target (up from $29.00) on shares of Concentra Group Holdings Parent in a research report on Monday, May 11th. Finally, The Goldman Sachs Group assumed 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 company'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 of the company's stock, valued at $19,320,377.50. This represents a 17.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 390,000 shares of company stock worth $10,465,000. Insiders own 8.10% of the company's stock.

Hedge Funds Weigh In On Concentra Group Holdings Parent

Several hedge funds have recently made changes to their positions in CON. Norges Bank purchased a new stake in shares of Concentra Group Holdings Parent during the fourth quarter valued at $43,404,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Concentra Group Holdings Parent in the 3rd quarter worth about $35,124,000. Woodline Partners LP increased its stake in Concentra Group Holdings Parent by 142.7% in the 3rd quarter. Woodline Partners LP now owns 2,746,505 shares of the company's stock worth $57,484,000 after purchasing an additional 1,614,988 shares in the last quarter. Jennison Associates LLC raised its holdings in Concentra Group Holdings Parent by 195.8% during the 1st quarter. Jennison Associates LLC now owns 2,172,291 shares of the company's stock worth $46,596,000 after buying an additional 1,437,912 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Concentra Group Holdings Parent by 13.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,874,283 shares of the company's stock worth $81,089,000 after buying an additional 445,449 shares during the period.

Concentra Group Holdings Parent Stock Performance

Shares of CON stock opened at $31.46 on Friday. Concentra Group Holdings Parent has a 12 month low of $18.55 and a 12 month high of $32.35. 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 firm has a market capitalization of $4.03 billion, a P/E ratio of 22.64, a P/E/G ratio of 1.43 and a beta of 0.64. The company's fifty day moving average price is $26.98 and its two-hundred day moving average price is $23.76.

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

Concentra Group Holdings Parent Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 19th were given a dividend of $0.0625 per share. The ex-dividend date was Tuesday, May 19th. This represents a $0.25 annualized dividend and a dividend yield of 0.8%. Concentra Group Holdings Parent's payout ratio is currently 17.99%.

Concentra Group Holdings Parent Company Profile

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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