Concentra Group Holdings Parent (NYSE:CON) Sets New 12-Month High - What's Next?

Key Points

• Concentra shares reached a new 52-week high of $41.71, up from a previous close of $40.15.
• Analyst sentiment is broadly positive: the consensus rating is Buy, with an average price target of $41.29; Truist and RBC recently raised their targets to $42.
• Quarterly results beat expectations, with EPS of $0.52 versus $0.42 estimated and revenue of $606.03 million, up 10% year over year.

Concentra Group Holdings Parent, Inc. (NYSE:CON - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday. The stock traded as high as $41.71 and last traded at $41.4050, with a volume of 572,167 shares traded. The stock had previously closed at $40.15.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Truist Financial boosted their target price on shares of Concentra Group Holdings Parent from $37.00 to $42.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. Royal Bank Of Canada increased their price objective on Concentra Group Holdings Parent from $36.00 to $42.00 and gave the company an "outperform" rating in a report on Monday, August 10th. Zacks Research upgraded shares of Concentra Group Holdings Parent from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 31st. Wells Fargo & Company lifted their price objective on Concentra Group Holdings Parent from $28.00 to $40.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 11th. Finally, Weiss Ratings raised shares of Concentra Group Holdings Parent from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Friday, October 23rd. Two investment analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $41.29.

Concentra Group Holdings Parent Price Performance

The firm has a market cap of $5.52 billion, a price-to-earnings ratio of 27.89, a P/E/G ratio of 1.47 and a beta of 0.51. The business has a 50 day simple moving average of $36.54 and a 200-day simple moving average of $28.68. The company has a debt-to-equity ratio of 3.22, a quick ratio of 1.38 and a current ratio of 1.38.

Concentra Group Holdings Parent (NYSE:CON - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.42 by $0.10. Concentra Group Holdings Parent had a return on equity of 47.81% and a net margin of 8.69%. The business had revenue of $606.03 million during the quarter, compared to the consensus estimate of $591.75 million. During the same quarter last year, the company earned $0.37 EPS. The firm's revenue was up 10.0% compared to the same quarter last year. Equities research analysts expect that Concentra Group Holdings Parent, Inc. will post 1.65 earnings per share for the current year.

Institutional Trading of Concentra Group Holdings Parent

Hedge funds have recently bought and sold shares of the stock. Allworth Financial LP increased its position in Concentra Group Holdings Parent by 70.3% in the second quarter. Allworth Financial LP now owns 1,010 shares of the company's stock worth $30,000 after purchasing an additional 417 shares during the period. Fulcrum Asset Management LLP bought a new stake in shares of Concentra Group Holdings Parent in the third quarter valued at $35,000. Integrated Wealth Concepts LLC bought a new position in Concentra Group Holdings Parent during the second quarter worth about $38,000. Heritage Family Offices LLP purchased a new position in shares of Concentra Group Holdings Parent in the third quarter valued at $57,000. Finally, Nykredit A S purchased a new stake in shares of Concentra Group Holdings Parent in the second quarter worth about $60,000.

About Concentra Group Holdings Parent

Concentra Group Holdings Parent, Inc is the parent company of Concentra, a provider of occupational health services in the United States. The company primarily serves employers, workers and insurers through a nationwide network of medical centers and employer-based clinics.

Concentra's services include workplace injury care, workers' compensation treatment, physical examinations, drug and alcohol testing, vaccinations, physical therapy, urgent care and other occupational medicine programs.

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