Cross Country Healthcare (NASDAQ:CCRN) Price Target Raised to $13.25 at Truist Financial

Key Points

• Truist Financial raised its price target on Cross Country Healthcare (NASDAQ: CCRN) from $10.00 to $13.25, while keeping a hold rating on the stock.
• Shares of Cross Country Healthcare fell slightly, trading around $13.14 on Monday, near the newly raised target and just below the stock’s 52-week high of $14.99.
• The company recently reported Q2 earnings of -$0.03 per share, beating estimates, and revenue of $241.06 million, also above analyst expectations.

Cross Country Healthcare (NASDAQ:CCRN - Get Free Report) had its price target hoisted by research analysts at Truist Financial from $10.00 to $13.25 in a report released on Monday,Benzinga reports. The brokerage currently has a "hold" rating on the business services provider's stock. Truist Financial's price objective points to a potential upside of 0.88% from the stock's previous close.

A number of other equities research analysts have also weighed in on CCRN. Weiss Ratings reissued a "sell (e+)" rating on shares of Cross Country Healthcare in a research note on Friday, March 27th. Citigroup lowered Cross Country Healthcare from a "market outperform" rating to a "market perform" rating in a research note on Thursday. Zacks Research raised Cross Country Healthcare from a "strong sell" rating to a "hold" rating in a research report on Monday, January 19th. Wedbush lowered Cross Country Healthcare from an "outperform" rating to a "hold" rating and lowered their price target for the company from $15.00 to $13.25 in a research report on Thursday. Finally, Citizens Jmp lowered Cross Country Healthcare from a "strong-buy" rating to a "hold" rating in a research report on Thursday. Nine analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Cross Country Healthcare presently has an average rating of "Reduce" and a consensus price target of $12.72.

Cross Country Healthcare Stock Down 0.3%

Shares of NASDAQ CCRN traded down $0.05 during midday trading on Monday, reaching $13.14. The company had a trading volume of 181,468 shares, compared to its average volume of 569,250. Cross Country Healthcare has a one year low of $7.43 and a one year high of $14.99. The firm's fifty day moving average price is $9.69 and its 200-day moving average price is $9.66. The stock has a market cap of $422.95 million, a PE ratio of -4.31, a price-to-earnings-growth ratio of 13.87 and a beta of 0.35.

Cross Country Healthcare (NASDAQ:CCRN - Get Free Report) last released its earnings results on Thursday, May 7th. The business services provider reported ($0.03) earnings per share for the quarter, beating analysts' consensus estimates of ($0.05) by $0.02. Cross Country Healthcare had a negative return on equity of 0.74% and a negative net margin of 9.84%.The company had revenue of $241.06 million during the quarter, compared to analyst estimates of $237.07 million. As a group, equities research analysts expect that Cross Country Healthcare will post 0.09 EPS for the current year.

Institutional Trading of Cross Country Healthcare

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets grew its stake in shares of 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 buying an additional 1,142 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Cross Country Healthcare in the 4th quarter worth approximately $46,000. Tower Research Capital LLC TRC grew its stake in shares of Cross Country Healthcare by 422.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,586 shares of the business services provider's stock worth $47,000 after buying an additional 2,899 shares during the last quarter. Graham Capital Management L.P. purchased a new stake in shares of Cross Country Healthcare in the 4th quarter worth approximately $83,000. Finally, AXQ Capital LP purchased a new stake in shares of Cross Country Healthcare in the 4th quarter worth approximately $109,000. Hedge funds and other institutional investors own 96.03% of the company's stock.

About Cross Country Healthcare

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.