Wall Street Zen Upgrades Cross Country Healthcare (NASDAQ:CCRN) to Hold

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 stock analysts at Wall Street Zen to a "hold" rating in a research note issued to investors on Saturday.

Other equities research analysts also recently issued reports about the company. UBS Group decreased their price target on 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 reaffirmed a "market perform" rating and set a $18.61 price target on shares of Cross Country Healthcare in a report on Tuesday, June 17th. Seven equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Cross Country Healthcare currently has an average rating of "Hold" and an average price target of $17.93.

Cross Country Healthcare Price Performance

Shares of CCRN stock traded down $0.05 during trading hours on Friday, hitting $12.67. The stock had a trading volume of 241,978 shares, compared to its average volume of 345,994. The firm has a market capitalization of $415.09 million, a PE ratio of -48.73, a PEG ratio of 5.53 and a beta of 0.35. Cross Country Healthcare has a twelve month low of $9.58 and a twelve month high of $18.33. The stock's 50 day moving average is $13.10 and its 200 day moving average is $14.63.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Quadrant Capital Group LLC purchased a new position in Cross Country Healthcare in the fourth quarter worth $25,000. Signaturefd LLC raised its position in Cross Country Healthcare by 139.9% in the second 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 in the last quarter. Longfellow Investment Management Co. LLC purchased a new position in Cross Country Healthcare in the first quarter worth $59,000. AlphaQuest LLC raised its position in Cross Country Healthcare by 324.6% in the first quarter. AlphaQuest LLC now owns 8,297 shares of the business services provider's stock worth $124,000 after acquiring an additional 6,343 shares in the last quarter. Finally, Guggenheim Capital LLC purchased a new position in Cross Country Healthcare in the fourth quarter worth $201,000. Hedge funds and other institutional investors own 96.03% of the company's stock.

About Cross Country Healthcare

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.