Concentra Group Holdings Parent (NYSE:CON) Sets New 52-Week High - Should You Buy?

Key Points

• Concentra Group Holdings Parent (NYSE: CON) hit a new 52-week high, trading as high as $26.73 after closing previously at $26.11.
• Analyst sentiment remains positive, with several firms raising targets; the stock now has a Moderate Buy consensus and an average price target of $30.20.
• The company recently beat earnings and revenue expectations, reporting EPS of $0.40 versus $0.35 expected and revenue of $569.56 million, up 13.7% year over year.

Concentra Group Holdings Parent, Inc. (NYSE:CON - Get Free Report)'s stock price reached a new 52-week high on Wednesday . The stock traded as high as $26.73 and last traded at $26.6150, with a volume of 121006 shares changing hands. The stock had previously closed at $26.11.

Wall Street Analyst Weigh In

A number of brokerages have commented on CON. Wells Fargo & Company increased their price target 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. Truist Financial reaffirmed a "buy" rating and issued a $31.00 target price (up from $29.00) on shares of Concentra Group Holdings Parent in a report on Monday, May 11th. The Goldman Sachs Group assumed 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 for the company. Finally, Weiss Ratings upgraded Concentra Group Holdings Parent from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, May 11th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, Concentra Group Holdings Parent currently has a consensus rating of "Moderate Buy" and an average target price of $30.20.

Concentra Group Holdings Parent Stock Performance

The company's fifty day simple moving average is $23.68 and its two-hundred day simple moving average is $22.27. The company has a debt-to-equity ratio of 3.62, a quick ratio of 1.26 and a current ratio of 1.26. The stock has a market capitalization of $3.39 billion, a P/E ratio of 19.10, a PEG ratio of 1.15 and a beta of 0.82.

Concentra Group Holdings Parent (NYSE:CON - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.05. The company had revenue of $569.56 million during 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%.The business's revenue was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.32 earnings per share. As a group, equities analysts forecast that Concentra Group Holdings Parent, Inc. will post 1.53 EPS for the current year.

Concentra Group Holdings Parent Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 19th were issued a dividend of $0.0625 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.9%. Concentra Group Holdings Parent's dividend payout ratio (DPR) is currently 17.99%.

Insider Activity

In other news, Director Robert A. Ortenzio sold 130,000 shares of the business's stock in a transaction dated 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 approximately $19,086,375. The trade was a 14.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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 Trading of Concentra Group Holdings Parent

A number of institutional investors have recently bought and sold shares of the business. Segall Bryant & Hamill LLC bought a new position in shares of Concentra Group Holdings Parent during the first quarter worth approximately $1,811,000. Argent Capital Management LLC boosted its stake in shares of Concentra Group Holdings Parent by 42.0% in 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 period. Janus Henderson Group PLC boosted its stake in shares of Concentra Group Holdings Parent by 722.9% in 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 period. California State Teachers Retirement System grew its position in Concentra Group Holdings Parent by 25.7% during the first quarter. California State Teachers Retirement System now owns 139,546 shares of the company's stock worth $2,993,000 after buying an additional 28,516 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in Concentra Group Holdings Parent by 1.4% during the 1st quarter. Royal Bank of Canada now owns 213,965 shares of the company's stock worth $4,590,000 after acquiring an additional 3,058 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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