Concentra Group Holdings Parent (NYSE:CON) Price Target Raised to $37.00 at Truist Financial

Key Points

• Truist Financial raised Concentra Group Holdings Parent’s price target to $37 from $31 and kept a buy rating, implying about 18.6% upside from the prior close.
• Wall Street sentiment remains positive overall, with seven Buy ratings and one Hold; the stock’s consensus price target is $31.40 and average rating is Moderate Buy.
• Concentra recently beat quarterly expectations, reporting EPS of $0.40 versus $0.35 expected and revenue of $569.55 million versus $553.53 million, while revenue rose 13.7% year over year.

Concentra Group Holdings Parent (NYSE:CON - Get Free Report) had its price objective increased by equities researchers at Truist Financial from $31.00 to $37.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Truist Financial's price objective would indicate a potential upside of 18.62% from the stock's previous close.

Other research analysts also recently issued reports about the stock. The Goldman Sachs Group began coverage on shares of Concentra Group Holdings Parent in a research note on Friday, June 5th. They set a "buy" rating and a $30.00 price target on the stock. William Blair started coverage on shares of Concentra Group Holdings Parent in a research note on Wednesday, July 1st. They issued an "outperform" rating for the company. Finally, Weiss Ratings raised shares of Concentra Group Holdings Parent from a "hold (c+)" rating to a "buy (b-)" rating in a report 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, the company currently has an average rating of "Moderate Buy" and a consensus price target of $31.40.

Concentra Group Holdings Parent Price Performance

Shares of Concentra Group Holdings Parent stock opened at $31.19 on Tuesday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 3.62. The firm has a market capitalization of $3.99 billion, a PE ratio of 22.48, a price-to-earnings-growth ratio of 1.44 and a beta of 0.64. The business's 50-day moving average price is $27.34 and its 200-day moving average price is $23.92. Concentra Group Holdings Parent has a 12 month low of $18.55 and a 12 month high of $32.35.

Concentra Group Holdings Parent (NYSE:CON - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.40 earnings per share for the quarter, beating analysts' consensus estimates of $0.35 by $0.05. The company had revenue of $569.55 million for the quarter, compared to analysts' expectations of $553.53 million. Concentra Group Holdings Parent had a return on equity of 47.14% and a net margin of 7.97%.Concentra Group Holdings Parent's revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period last year, the firm posted $0.32 EPS. Sell-side analysts forecast that Concentra Group Holdings Parent will post 1.52 EPS for the current fiscal year.

Insider Buying and Selling at Concentra Group Holdings Parent

In other news, Director Robert A. Ortenzio sold 130,000 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $30.50, for a total transaction of $3,965,000.00. Following the completion of the sale, the director directly owned 633,455 shares in the company, valued at approximately $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 accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 390,000 shares of company stock worth $10,465,000 in the last ninety days. Corporate insiders own 8.10% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CON. State Street Corp lifted its holdings in Concentra Group Holdings Parent by 0.5% in the 4th quarter. State Street Corp now owns 4,446,551 shares of the company's stock worth $87,508,000 after buying an additional 22,442 shares during the period. JPMorgan Chase & Co. increased its stake 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 valued at $81,089,000 after buying an additional 445,449 shares during the period. Dimensional Fund Advisors LP raised its holdings 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 acquiring an additional 144,379 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Concentra Group Holdings Parent by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 2,851,717 shares of the company's stock valued at $56,130,000 after acquiring an additional 19,122 shares in the last quarter. Finally, Woodline Partners LP lifted its stake in Concentra Group Holdings Parent by 142.7% in the third quarter. Woodline Partners LP now owns 2,746,505 shares of the company's stock worth $57,484,000 after acquiring an additional 1,614,988 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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