Cross Country Healthcare, Inc. (NASDAQ:CCRN) Receives $17.93 Consensus Target Price from Brokerages

Key Points

• Cross Country Healthcare, Inc. (NASDAQ:CCRN) has received a consensus rating of "Hold" from six analyst brokerages, with an average price target set at $17.93.
• Increased institutional interest is noted, with Signaturefd LLC and BNP Paribas Financial Markets expanding their stakes by 139.9% and 50.0% respectively during the second quarter.
• In its recent earnings report, Cross Country Healthcare missed expectations, posting an earnings per share of ($0.01), falling short of the consensus estimate of $0.07.

Cross Country Healthcare, Inc. (NASDAQ:CCRN - Get Free Report) has been given an average recommendation of "Hold" by the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $17.93.

Several analysts have commented on CCRN shares. UBS Group lowered their price objective on shares of Cross Country Healthcare from $18.61 to $16.50 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Barrington Research restated a "market perform" rating and issued a $18.61 price objective on shares of Cross Country Healthcare in a report on Tuesday, June 17th. Finally, Wall Street Zen upgraded shares of Cross Country Healthcare to a "hold" rating in a report on Saturday, August 9th.

Hedge Funds Weigh In On Cross Country Healthcare

Several large investors have recently made changes to their positions in the business. SummerHaven Investment Management LLC lifted its holdings in shares of Cross Country Healthcare by 1.4% during the first quarter. SummerHaven Investment Management LLC now owns 57,641 shares of the business services provider's stock valued at $858,000 after purchasing an additional 789 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Cross Country Healthcare by 4.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,386 shares of the business services provider's stock valued at $334,000 after purchasing an additional 817 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Cross Country Healthcare by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 31,821 shares of the business services provider's stock worth $474,000 after acquiring an additional 827 shares during the last quarter. BNP Paribas Financial Markets raised its holdings 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 worth $45,000 after acquiring an additional 1,142 shares during the last quarter. Finally, Signaturefd LLC raised its holdings in Cross Country Healthcare by 139.9% in the 2nd quarter. Signaturefd LLC now owns 2,193 shares of the business services provider's stock worth $29,000 after acquiring an additional 1,279 shares during the last quarter. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

Cross Country Healthcare Price Performance

CCRN traded up $0.01 on Monday, hitting $13.38. The company had a trading volume of 201,443 shares, compared to its average volume of 257,924. Cross Country Healthcare has a 52-week low of $9.58 and a 52-week high of $18.33. The stock has a fifty day simple moving average of $13.08 and a 200-day simple moving average of $14.18. The firm has a market capitalization of $438.33 million, a P/E ratio of -51.46, a P/E/G ratio of 6.75 and a beta of 0.35.

Cross Country Healthcare (NASDAQ:CCRN - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The business services provider reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.08). Cross Country Healthcare had a positive return on equity of 1.72% and a negative net margin of 0.70%.The company had revenue of $274.07 million during the quarter, compared to analysts' expectations of $292.67 million. Equities research analysts expect that Cross Country Healthcare will post 0.53 earnings per share for the current fiscal year.

Cross Country Healthcare Company Profile

Cross Country Healthcare, Inc provides talent management and other consultative services for healthcare clients in the United States. The company's Nurse and Allied Staffing segment provides traditional staffing, recruiting, and value-added total talent solutions, including temporary and permanent placement of travel and local nurse and, allied professionals; temporary placement of healthcare leaders within nursing, allied, physician, and human resources; vendor neutral and managed services programs; education healthcare services; in-home care services; and outsourcing services.