Cross Country Healthcare, Inc. (NASDAQ:CCRN) Receives Average Recommendation of "Reduce" from Analysts

Key Points

• Analyst sentiment is cautious: Cross Country Healthcare has an average broker rating of “Reduce” from 10 analysts, with one sell and nine hold ratings. The average 1-year price target is $12.05.
• Recent analyst actions were mixed to negative: Truist raised its target to $13.25 but kept a hold rating, while Citigroup and Wedbush downgraded the stock. Weiss Ratings also lowered its view, and Barrington Research maintained a market perform rating with a $13.25 target.
• Operational results were slightly better than expected: The company reported a smaller-than-expected quarterly loss of ($0.03) per share and revenue of $241.06 million, both beating estimates. Shares were trading around $13.24, near their 50-day average.

Cross Country Healthcare, Inc. (NASDAQ:CCRN - Get Free Report) has received an average rating of "Reduce" from the ten brokerages that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and nine have issued a hold rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $12.05.

Several equities analysts recently weighed in on CCRN shares. Truist Financial boosted their price objective on Cross Country Healthcare from $10.00 to $13.25 and gave the stock a "hold" rating in a research report on Monday, May 11th. Citigroup downgraded Cross Country Healthcare from a "market outperform" rating to a "market perform" rating in a report on Thursday, May 7th. Wedbush cut shares of Cross Country Healthcare from an "outperform" rating to a "hold" rating and dropped their price objective for the stock from $15.00 to $13.25 in a research report on Thursday, May 7th. Weiss Ratings cut shares of Cross Country Healthcare from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, June 30th. Finally, Barrington Research reiterated a "market perform" rating and issued a $13.25 price target on shares of Cross Country Healthcare in a research report on Monday, June 8th.

Cross Country Healthcare Trading Up 0.2%

NASDAQ CCRN opened at $13.24 on Thursday. The company has a market capitalization of $427.78 million, a PE ratio of -4.34, a price-to-earnings-growth ratio of 14.29 and a beta of 0.45. The firm's fifty day simple moving average is $13.16 and its 200-day simple moving average is $10.55. Cross Country Healthcare has a 1-year low of $7.43 and a 1-year high of $14.99.

Cross Country Healthcare (NASDAQ:CCRN - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The business services provider reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.02. The firm had revenue of $241.06 million for the quarter, compared to analyst estimates of $237.06 million. Cross Country Healthcare had a negative net margin of 9.84% and a negative return on equity of 0.74%. As a group, analysts predict that Cross Country Healthcare will post 0.09 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets lifted its position in Cross Country Healthcare by 50.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,424 shares of the business services provider's stock valued at $45,000 after acquiring an additional 1,142 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Cross Country Healthcare by 422.0% in the second quarter. Tower Research Capital LLC TRC now owns 3,586 shares of the business services provider's stock valued at $47,000 after purchasing an additional 2,899 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Cross Country Healthcare in the fourth quarter valued at $46,000. Vazirani Asset Management LLC bought a new position in shares of Cross Country Healthcare in the 3rd quarter valued at about $142,000. Finally, Graham Capital Management L.P. acquired a new position in Cross Country Healthcare during the fourth quarter worth approximately $83,000. Institutional investors own 96.03% of the company's stock.

Cross Country Healthcare Company Profile

Cross Country Healthcare, Inc, headquartered in Boca Raton, Florida, is a leading provider of healthcare workforce solutions in the United States. The company specializes in the recruitment, placement and management of nursing and allied health professionals on both a travel and permanent basis. Through its integrated platform, Cross Country Healthcare serves hospitals, health systems, and long-term care facilities by matching qualified clinical talent with patient care needs across diverse care settings.

The company's core service offerings include travel nurse and allied health staffing, per diem staffing, permanent placement services, and managed services programs.

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