Concentra Group Holdings Parent (NYSE:CON) Hits New 12-Month High - Should You Buy?

Key Points

• Concentra Group Holdings Parent hit a new 52-week high, trading as high as $28.94, reflecting strong recent share momentum.
• Recent analyst action has been bullish, with multiple firms issuing or reaffirming Buy ratings and a consensus price target around $30.20.
• The company posted solid quarterly results, beating estimates on both EPS and revenue, while also paying a quarterly dividend that annualizes to a 0.9% yield.

Concentra Group Holdings Parent, Inc. (NYSE:CON - Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $28.94 and last traded at $28.8450, with a volume of 143740 shares trading hands. The stock had previously closed at $28.49.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Concentra Group Holdings Parent from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, May 11th. The Goldman Sachs Group began coverage on shares of Concentra Group Holdings Parent in a research note on Friday, June 5th. They issued a "buy" rating and a $30.00 target price on the stock. Truist Financial reaffirmed a "buy" rating and set a $31.00 target price (up from $29.00) on shares of Concentra Group Holdings Parent in a research report on Monday, May 11th. Finally, Wells Fargo & Company boosted their price target 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. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $30.20.

Concentra Group Holdings Parent Price Performance

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 fifty day moving average of $24.89 and a two-hundred day moving average of $22.75. The stock has a market capitalization of $3.69 billion, a P/E ratio of 20.75, a P/E/G ratio of 1.30 and a beta of 0.82.

Concentra Group Holdings Parent (NYSE:CON - Get Free Report) last released its quarterly earnings data 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 company had revenue of $569.55 million during the quarter, compared to analyst estimates of $553.53 million. Concentra Group Holdings Parent had a net margin of 7.97% and a return on equity of 47.14%. The firm's revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 earnings per share. On average, analysts predict that Concentra Group Holdings Parent, Inc. will post 1.53 EPS for the current year.

Concentra Group Holdings Parent Dividend Announcement

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

Insider Activity

In related news, Director Robert A. Ortenzio sold 130,000 shares of Concentra Group Holdings Parent stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $25.00, for a total transaction of $3,250,000.00. Following the transaction, the director directly owned 763,455 shares of the company's stock, valued at $19,086,375. This trade 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 this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 8.10% of the company's stock.

Institutional Trading of Concentra Group Holdings Parent

Several hedge funds have recently modified their holdings of CON. Segall Bryant & Hamill LLC purchased a new stake in Concentra Group Holdings Parent during the first quarter valued at approximately $1,811,000. Argent Capital Management LLC grew its holdings in shares of Concentra Group Holdings Parent by 42.0% during the first quarter. Argent Capital Management LLC now owns 47,898 shares of the company's stock valued at $1,027,000 after buying an additional 14,173 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Concentra Group Holdings Parent by 722.9% during the first quarter. Janus Henderson Group PLC now owns 419,772 shares of the company's stock valued at $9,003,000 after buying an additional 368,761 shares during the last quarter. California State Teachers Retirement System increased its position in shares of Concentra Group Holdings Parent by 25.7% in the 1st quarter. California State Teachers Retirement System now owns 139,546 shares of the company's stock valued at $2,993,000 after acquiring an additional 28,516 shares during the period. Finally, Royal Bank of Canada increased its position in shares of Concentra Group Holdings Parent by 1.4% in the 1st quarter. Royal Bank of Canada now owns 213,965 shares of the company's stock valued at $4,590,000 after acquiring an additional 3,058 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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