Concentra Group Holdings Parent (NYSE:CON) Now Covered by The Goldman Sachs Group

Key Points

• Goldman Sachs initiated coverage on Concentra Group Holdings Parent with a buy rating and a $30 price target, implying about 20% upside from the prior close.
• The stock has broader analyst support, with six Buy ratings and one Hold; the consensus target price is about $30.20, while recent calls from Truist and Wells Fargo were also positive.
• Concentra recently reported strong quarterly results, beating EPS and revenue estimates and posting 13.7% year-over-year revenue growth; however, a director also sold 130,000 shares in a pre-arranged trading plan.

Equities research analysts at The Goldman Sachs Group started coverage on shares of Concentra Group Holdings Parent (NYSE:CON - Get Free Report) in a research note issued to investors on Friday,Benzinga reports. The brokerage set a "buy" rating and a $30.00 price target on the stock. The Goldman Sachs Group's target price points to a potential upside of 20.08% from the stock's previous close.

A number of other equities research analysts also recently weighed in on CON. Truist Financial restated a "buy" rating and issued a $31.00 price target (up from $29.00) on shares of Concentra Group Holdings Parent in a research note on Monday, May 11th. Weiss Ratings raised shares of Concentra Group Holdings Parent from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, May 11th. Finally, Wells Fargo & Company raised their target price on shares of Concentra Group Holdings Parent from $25.00 to $28.00 and gave the company an "overweight" rating in a research 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 stock. According to MarketBeat.com, Concentra Group Holdings Parent currently has an average rating of "Moderate Buy" and a consensus target price of $30.20.

Concentra Group Holdings Parent Stock Performance

NYSE CON opened at $24.98 on Friday. The firm's 50 day simple moving average is $23.44 and its 200 day simple moving average is $22.13. The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of 17.97, a P/E/G ratio of 1.12 and a beta of 0.82. 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 $26.66.

Concentra Group Holdings Parent (NYSE:CON - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.40 earnings per share for the quarter, topping 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 firm had revenue of $569.56 million during the quarter, compared to analysts' expectations of $553.53 million. During the same period in the prior year, the company earned $0.32 earnings per share. The company's quarterly revenue was up 13.7% on a year-over-year basis. As a group, research analysts expect that Concentra Group Holdings Parent will post 1.53 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 Concentra Group Holdings Parent stock in a transaction dated 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 transaction, the director directly owned 763,455 shares of the company's stock, valued at approximately $19,086,375. The trade was a 14.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 8.10% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CON. Royal Bank of Canada lifted its stake in shares of Concentra Group Holdings Parent by 7.6% in the 1st quarter. Royal Bank of Canada now owns 81,441 shares of the company's stock valued at $1,767,000 after purchasing an additional 5,754 shares during the period. AQR Capital Management LLC acquired a new position in shares of Concentra Group Holdings Parent in the 1st quarter valued at about $293,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Concentra Group Holdings Parent by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,515 shares of the company's stock valued at $1,422,000 after purchasing an additional 2,873 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Concentra Group Holdings Parent by 48.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,329,498 shares of the company's stock valued at $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 lifted its stake in shares of Concentra Group Holdings Parent by 10.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 210,526 shares of the company's stock valued at $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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