Concentra Group Holdings Parent (NYSE:CON) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Key Points

• Wells Fargo raised Concentra’s price target from $28 to $40 and maintained an “overweight” rating, implying 17.58% upside from the prior close.
• Analyst sentiment is broadly positive: seven analysts rate the stock a Buy and one rates it Hold, producing a “Moderate Buy” consensus and average price target of $37.
• Concentra exceeded quarterly expectations, reporting adjusted EPS of $0.52 versus $0.42 expected and revenue of $606.03 million, up 10% year over year. The stock opened at $34.02, near its 52-week high of $35.15.

Concentra Group Holdings Parent (NYSE:CON - Get Free Report) had its price target lifted by research analysts at Wells Fargo & Company from $28.00 to $40.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's price target would suggest a potential upside of 17.58% from the stock's previous close.

A number of other brokerages also recently issued reports on CON. William Blair assumed coverage on Concentra Group Holdings Parent in a research report on Wednesday, July 1st. They issued an "outperform" rating for the company. The Goldman Sachs Group initiated coverage on Concentra Group Holdings Parent in a report on Friday, June 5th. They set a "buy" rating and a $30.00 price objective for the company. Truist Financial lifted their target price on Concentra Group Holdings Parent from $37.00 to $42.00 and gave the stock a "buy" rating in a research report on Monday. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Concentra Group Holdings Parent in a research note on Friday. Finally, Royal Bank Of Canada upped their target price on Concentra Group Holdings Parent from $36.00 to $42.00 and gave the stock an "outperform" rating in a report on Monday. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Concentra Group Holdings Parent has an average rating of "Moderate Buy" and an average price target of $37.00.

Concentra Group Holdings Parent Stock Down 0.1%

Concentra Group Holdings Parent stock opened at $34.02 on Tuesday. The company has a debt-to-equity ratio of 3.22, a quick ratio of 1.38 and a current ratio of 1.38. The stock has a market cap of $4.34 billion, a PE ratio of 21.95, a price-to-earnings-growth ratio of 1.53 and a beta of 0.61. The stock has a fifty day moving average of $29.98 and a 200 day moving average of $25.53. Concentra Group Holdings Parent has a one year low of $18.55 and a one year high of $35.15.

Concentra Group Holdings Parent (NYSE:CON - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.10. The business had revenue of $606.03 million during the quarter, compared to analyst estimates of $591.75 million. Concentra Group Holdings Parent had a return on equity of 47.81% and a net margin of 8.69%.Concentra Group Holdings Parent's revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.37 earnings per share. As a group, sell-side analysts predict that Concentra Group Holdings Parent will post 1.55 EPS for the current year.

Insider Activity at Concentra Group Holdings Parent

In other news, Director Robert A. Ortenzio sold 130,000 shares of the business's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $31.84, for a total transaction of $4,139,200.00. Following the sale, the director directly owned 503,455 shares of the company's stock, valued at $16,030,007.20. The trade was a 20.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 $11,354,200 in the last three months. Insiders own 8.10% of the company's stock.

Institutional Investors Weigh In On Concentra Group Holdings Parent

Several hedge funds have recently added to or reduced their stakes in CON. State Street Corp boosted its stake in shares of Concentra Group Holdings Parent by 0.5% in the fourth 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 last quarter. Dimensional Fund Advisors LP boosted its position in Concentra Group Holdings Parent by 4.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,107,254 shares of the company's stock worth $66,645,000 after purchasing an additional 144,379 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Concentra Group Holdings Parent by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 2,851,717 shares of the company's stock worth $56,130,000 after purchasing an additional 19,122 shares during the period. Woodline Partners LP increased its holdings in shares of Concentra Group Holdings Parent by 142.7% during the 3rd quarter. Woodline Partners LP now owns 2,746,505 shares of the company's stock valued at $57,484,000 after purchasing an additional 1,614,988 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Concentra Group Holdings Parent by 1.6% during the 1st quarter. Principal Financial Group Inc. now owns 2,668,512 shares of the company's stock valued at $57,238,000 after purchasing an additional 41,891 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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