Concentra Group Holdings Parent (NYSE:CON) Sets New 52-Week High - Here's What Happened

Key Points

• Concentra Group Holdings Parent hit a new 52-week high, trading as high as $30.24 after a strong recent run. The stock’s move came despite a slight intraday pullback and light trading volume.
• Analyst sentiment is broadly positive, with multiple firms issuing or reaffirming Buy ratings and a consensus target price of about $30.20. Goldman Sachs initiated coverage with a $30 target, while Truist raised its target to $31.
• The company’s latest earnings beat expectations, posting $0.40 EPS on revenue of $569.55 million, both above estimates. It also declared a quarterly dividend of $0.0625 per share and saw an insider sale by Director Robert A. Ortenzio under a pre-arranged trading plan.

Shares of Concentra Group Holdings Parent, Inc. (NYSE:CON - Get Free Report) hit a new 52-week high on Monday . The stock traded as high as $30.24 and last traded at $29.8640, with a volume of 1733 shares. The stock had previously closed at $30.18.

Analyst Ratings Changes

A number of research firms recently issued reports on CON. The Goldman Sachs Group initiated 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. 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. 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. Finally, Wells Fargo & Company boosted their price objective on shares of Concentra Group Holdings Parent from $25.00 to $28.00 and gave the company an "overweight" rating in a research note on Thursday, March 5th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Concentra Group Holdings Parent currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.20.

Concentra Group Holdings Parent Trading Down 0.9%

The business has a fifty day moving average price of $25.45 and a 200 day moving average price of $23.03. The company has a market capitalization of $3.83 billion, a PE ratio of 21.52, a P/E/G ratio of 1.37 and a beta of 0.82. The company has a debt-to-equity ratio of 3.62, a quick ratio of 1.26 and a current ratio of 1.26.

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, beating the consensus estimate of $0.35 by $0.05. The business had revenue of $569.55 million for the quarter, compared to analyst estimates of $553.53 million. Concentra Group Holdings Parent had a return on equity of 47.14% and a net margin of 7.97%.The company's revenue was up 13.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.32 EPS. Analysts expect that Concentra Group Holdings Parent, Inc. will post 1.53 EPS for the current fiscal year.

Concentra Group Holdings Parent Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 19th were given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, May 19th. Concentra Group Holdings Parent's payout ratio is 17.99%.

Insider Activity

In other news, Director Robert A. Ortenzio sold 130,000 shares of the stock in a transaction on 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 completion of the sale, the director owned 763,455 shares of the company's stock, valued at $19,086,375. This represents a 14.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 8.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Concentra Group Holdings Parent

Hedge funds and other institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC increased its holdings in Concentra Group Holdings Parent by 124.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,195 shares of the company's stock valued at $25,000 after purchasing an additional 663 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in shares of Concentra Group Holdings Parent by 2,784.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 1,442 shares of the company's stock worth $30,000 after buying an additional 1,392 shares during the period. Public Employees Retirement System of Ohio grew its stake in shares of Concentra Group Holdings Parent by 49.1% in the third quarter. Public Employees Retirement System of Ohio now owns 1,604 shares of the company's stock valued at $34,000 after buying an additional 528 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Concentra Group Holdings Parent in the fourth quarter valued at about $35,000. Finally, Osaic Holdings Inc. raised its holdings in shares of Concentra Group Holdings Parent by 59.5% during the 2nd quarter. Osaic Holdings Inc. now owns 2,041 shares of the company's stock valued at $42,000 after buying an additional 761 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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