Concentra Group Holdings Parent (NYSE:CON) Hits New 1-Year High - Should You Buy?

Key Points

• Concentra Group Holdings Parent hit a new 52-week high, trading as high as $31.93 and last changing hands above $32, extending a recent rally.
• Wall Street sentiment is broadly positive: seven analysts rate the stock a Buy, with a consensus Moderate Buy and average price target of $30.20, though the shares are now trading above that level.
• The company recently beat quarterly expectations, reporting $0.40 EPS on revenue of $569.55 million, and it also pays a modest dividend with an annualized yield of about 0.8%.

Concentra Group Holdings Parent, Inc. (NYSE:CON - Get Free Report)'s stock price reached a new 52-week high during trading on Monday . The company traded as high as $31.93 and last traded at $32.3810, with a volume of 1569 shares traded. The stock had previously closed at $31.91.

Wall Street Analyst Weigh In

CON has been the subject of several research analyst reports. Weiss Ratings upgraded Concentra Group Holdings Parent from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, May 11th. William Blair started coverage on Concentra Group Holdings Parent in a research report on Wednesday, July 1st. They set an "outperform" rating for the company. The Goldman Sachs Group assumed coverage on shares of Concentra Group Holdings Parent in a report on Friday, June 5th. They issued a "buy" rating and a $30.00 target price for the company. Finally, Truist Financial reaffirmed a "buy" rating and set a $31.00 price target (up from $29.00) on shares of Concentra Group Holdings Parent in a research note on Monday, May 11th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, Concentra Group Holdings Parent has an average rating of "Moderate Buy" and a consensus price target of $30.20.

Concentra Group Holdings Parent Trading Up 0.2%

The company has a 50-day moving average of $26.27 and a 200 day moving average of $23.42. 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 company has a market cap of $4.09 billion, a PE ratio of 22.99, a price-to-earnings-growth ratio of 1.45 and a beta of 0.64.

Concentra Group Holdings Parent (NYSE:CON - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $569.55 million during the quarter, compared to analyst estimates of $553.53 million. During the same period last year, the company earned $0.32 EPS. The company's revenue for the quarter was up 13.7% on a year-over-year basis. Analysts predict that Concentra Group Holdings Parent, Inc. will post 1.52 earnings per share for the current year.

Concentra Group Holdings Parent Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Tuesday, May 19th were paid 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 dividend yield of 0.8%. Concentra Group Holdings Parent's payout ratio is currently 17.99%.

Insider Buying and Selling

In related news, Director Robert A. Ortenzio sold 130,000 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $25.00, for a total value of $3,250,000.00. Following the sale, the director directly owned 763,455 shares of the company's stock, valued at $19,086,375. This represents a 14.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 8.10% of the company's stock.

Institutional Investors Weigh In On Concentra Group Holdings Parent

Several hedge funds and other institutional investors have recently modified their holdings of CON. State Street Corp boosted its holdings in Concentra Group Holdings Parent by 0.5% during the 4th quarter. State Street Corp now owns 4,446,551 shares of the company's stock valued at $87,508,000 after acquiring an additional 22,442 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Concentra Group Holdings Parent by 13.0% during the third quarter. JPMorgan Chase & Co. now owns 3,874,283 shares of the company's stock worth $81,089,000 after purchasing an additional 445,449 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Concentra Group Holdings Parent by 4.9% during the first 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 period. Geode Capital Management LLC grew its holdings in shares of Concentra Group Holdings Parent by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 2,851,717 shares of the company's stock worth $56,130,000 after purchasing an additional 19,122 shares during the last quarter. Finally, 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 buying an additional 1,614,988 shares during the period.

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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