Cross Country Healthcare (NASDAQ:CCRN) Stock Rating Upgraded by Wall Street Zen

Key Points

• Cross Country Healthcare (NASDAQ:CCRN) has been upgraded to a "hold" rating by Wall Street Zen, reflecting a cautious outlook on the stock's performance.
• The company reported a loss of ($0.01) EPS for the last quarter, falling short of analysts' expectations of $0.07, indicating potential challenges in its financial performance.
• Current consensus target price for Cross Country Healthcare shares is $17.93, with institutional investors holding a significant 96.03% of the stock.

Cross Country Healthcare (NASDAQ:CCRN - Get Free Report) was upgraded by research analysts at Wall Street Zen to a "hold" rating in a report released on Saturday.

CCRN has been the topic of several other reports. UBS Group reduced their price target on Cross Country Healthcare from $18.61 to $16.50 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Barrington Research restated a "market perform" rating and set a $18.61 price target on shares of Cross Country Healthcare in a research report on Tuesday, June 17th. Seven research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $17.93.

Cross Country Healthcare Trading Up 1.3%

Shares of NASDAQ CCRN traded up $0.17 during mid-day trading on Friday, hitting $12.93. The company had a trading volume of 14,285 shares, compared to its average volume of 342,967. The company has a market capitalization of $423.59 million, a price-to-earnings ratio of -49.73, a P/E/G ratio of 5.51 and a beta of 0.35. Cross Country Healthcare has a 1 year low of $9.58 and a 1 year high of $18.33. The stock's 50-day moving average price is $13.08 and its 200-day moving average price is $14.58.

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

Institutional Investors Weigh In On Cross Country Healthcare

Several hedge funds have recently made changes to their positions in CCRN. Norges Bank bought a new stake in shares of Cross Country Healthcare during the fourth quarter valued at approximately $2,027,000. Geode Capital Management LLC raised its stake in Cross Country Healthcare by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 754,368 shares of the business services provider's stock valued at $13,702,000 after buying an additional 2,112 shares during the last quarter. Wells Fargo & Company MN raised its stake in Cross Country Healthcare by 20.7% during the fourth quarter. Wells Fargo & Company MN now owns 19,657 shares of the business services provider's stock valued at $357,000 after buying an additional 3,371 shares during the last quarter. Envestnet Asset Management Inc. purchased a new position in Cross Country Healthcare during the fourth quarter valued at $217,000. Finally, Quadrant Capital Group LLC purchased a new position in Cross Country Healthcare during the fourth quarter valued at $25,000. 96.03% of the stock is currently owned by institutional investors.

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.