Concentra Group Holdings Parent (NYSE:CON) Reaches New 1-Year High - Still a Buy?

Key Points

• Concentra Group Holdings Parent hit a new 52-week high, trading as high as $25.87, after a strong move in the stock.
• Recent analyst sentiment is largely positive, with multiple firms raising price targets; the stock now carries a Moderate Buy consensus and an average target of $30.25.
• The company beat first-quarter expectations, reporting $0.40 EPS versus $0.35 expected and revenue of $569.6 million, while also announcing a quarterly dividend of $0.0625 per share.

Concentra Group Holdings Parent, Inc. (NYSE:CON - Get Free Report)'s stock price reached a new 52-week high on Thursday . The stock traded as high as $25.87 and last traded at $25.8340, with a volume of 992284 shares changing hands. The stock had previously closed at $25.57.

Wall Street Analysts Forecast Growth

CON has been the topic of several recent research reports. Weiss Ratings upgraded Concentra Group Holdings Parent from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday. Truist Financial restated a "buy" rating and set a $31.00 price target (up from $29.00) on shares of Concentra Group Holdings Parent in a report on Monday. Wells Fargo & Company increased 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. Finally, Royal Bank Of Canada increased their target price on Concentra Group Holdings Parent from $30.00 to $31.00 and gave the stock an "outperform" rating in a research note on Monday, February 2nd. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $30.25.

Concentra Group Holdings Parent Stock Performance

The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 3.62. The business has a 50 day simple moving average of $22.52 and a two-hundred day simple moving average of $21.50. The firm has a market cap of $3.31 billion, a PE ratio of 18.59, a price-to-earnings-growth ratio of 1.16 and a beta of 0.72.

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 analysts' consensus estimates 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 $569.56 million for the quarter, compared to analyst estimates of $553.53 million. During the same quarter last year, the firm posted $0.32 earnings per share. The business's revenue was up 13.7% compared to the same quarter last year. As a group, equities research analysts forecast that Concentra Group Holdings Parent, Inc. will post 1.53 earnings per share for the current fiscal year.

Concentra Group Holdings Parent Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 19th will be paid a $0.0625 dividend. The ex-dividend date is Tuesday, May 19th. This represents a $0.25 dividend on an annualized basis and a yield of 1.0%. Concentra Group Holdings Parent's dividend payout ratio (DPR) is presently 17.99%.

Insider Activity

In other news, Director Robert A. Ortenzio sold 130,000 shares of the stock in a transaction on Friday, May 8th. 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 owned 893,455 shares of the company's stock, valued at approximately $22,336,375. This represents a 12.70% decrease in their position. The transaction 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.

Hedge Funds Weigh In On Concentra Group Holdings Parent

A number of hedge funds and other institutional investors have recently made changes to their positions in CON. Royal Bank of Canada grew its position in shares of Concentra Group Holdings Parent by 7.6% during the 1st quarter. Royal Bank of Canada now owns 81,441 shares of the company's stock worth $1,767,000 after buying an additional 5,754 shares in the last quarter. AQR Capital Management LLC bought a new position in shares of Concentra Group Holdings Parent during the 1st quarter worth $293,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Concentra Group Holdings Parent by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,515 shares of the company's stock worth $1,422,000 after buying an additional 2,873 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Concentra Group Holdings Parent by 48.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,329,498 shares of the company's stock worth $28,850,000 after buying an additional 434,503 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Concentra Group Holdings Parent by 10.4% during 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 worth $4,568,000 after buying an additional 19,846 shares in the last quarter.

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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