Truist Financial Raises Concentra Group Holdings Parent (NYSE:CON) Price Target to $42.00

Key Points

• Truist Financial raised its price target for Concentra Group Holdings Parent from $37 to $42 and maintained a “buy” rating, implying 24.45% upside from the stock’s $33.75 price. RBC also lifted its target to $42, while analysts overall assign the stock a “Moderate Buy” consensus rating.
• Concentra exceeded quarterly expectations, reporting $0.52 in EPS versus the $0.42 estimate and $606.03 million in revenue versus $591.75 million expected. Revenue increased 10% year over year, and net margin was 8.69%.
• Director Robert A. Ortenzio sold 130,000 shares worth approximately $4.14 million under a pre-arranged Rule 10b5-1 plan; insiders have sold $11.35 million worth of shares over the past 90 days.

Concentra Group Holdings Parent (NYSE:CON - Get Free Report) had its price objective boosted by stock analysts at Truist Financial from $37.00 to $42.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Truist Financial's target price would indicate a potential upside of 24.45% from the stock's current price.

CON has been the topic of a number of other research reports. William Blair started coverage on Concentra Group Holdings Parent in a research report on Wednesday, July 1st. They set an "outperform" rating on the stock. Weiss Ratings reiterated a "buy (b-)" rating on shares of Concentra Group Holdings Parent in a research report on Friday. Royal Bank Of Canada raised 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. Finally, The Goldman Sachs Group assumed coverage on Concentra Group Holdings Parent in a research report on Friday, June 5th. They issued a "buy" rating and a $30.00 target price for the company. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, Concentra Group Holdings Parent currently has a consensus rating of "Moderate Buy" and an average target price of $34.60.

Concentra Group Holdings Parent Stock Performance

Shares of CON traded down $0.31 during trading hours on Monday, hitting $33.75. The company's stock had a trading volume of 402,278 shares, compared to its average volume of 908,298. The business has a 50 day simple moving average of $29.80 and a two-hundred day simple moving average of $25.44. Concentra Group Holdings Parent has a 52-week low of $18.55 and a 52-week high of $35.15. The company has a debt-to-equity ratio of 3.22, a current ratio of 1.38 and a quick ratio of 1.38. The company has a market cap of $4.30 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 1.53 and a beta of 0.61.

Concentra Group Holdings Parent (NYSE:CON - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.10. The firm had revenue of $606.03 million for the quarter, compared to the consensus estimate of $591.75 million. Concentra Group Holdings Parent had a net margin of 8.69% and a return on equity of 47.81%. The company's revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.37 earnings per share. On average, equities analysts expect that Concentra Group Holdings Parent will post 1.55 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Robert A. Ortenzio sold 130,000 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $31.84, for a total value of $4,139,200.00. Following the completion of the transaction, the director directly owned 503,455 shares of the company's stock, valued at $16,030,007.20. This represents a 20.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 390,000 shares of company stock worth $11,354,200 in the last 90 days. 8.10% of the stock is owned by insiders.

Institutional Trading of Concentra Group Holdings Parent

Several large investors have recently bought and sold shares of the company. Hussman Strategic Advisors Inc. purchased a new position in Concentra Group Holdings Parent during the 4th quarter valued at approximately $1,240,000. Tributary Capital Management LLC raised its holdings in shares of Concentra Group Holdings Parent by 12.4% during the 4th quarter. Tributary Capital Management LLC now owns 566,839 shares of the company's stock worth $11,155,000 after acquiring an additional 62,573 shares in the last quarter. Norges Bank purchased a new stake in shares of Concentra Group Holdings Parent during the 4th quarter worth approximately $43,404,000. First Eagle Investment Management LLC boosted its position in shares of Concentra Group Holdings Parent by 18.4% during the 4th quarter. First Eagle Investment Management LLC now owns 383,206 shares of the company's stock valued at $7,541,000 after acquiring an additional 59,500 shares during the last quarter. Finally, Brant Point Investment Management LLC purchased a new position in shares of Concentra Group Holdings Parent in the fourth quarter valued at $5,235,000.

Concentra Group Holdings Parent Company Profile

Concentra Group Holdings Parent NYSE: CON is a Canada-based financial services holding company that specializes in serving Canadian credit unions and their members. Through its operating subsidiaries, the group provides wholesale funding, lending solutions and investment management services tailored to the unique needs of cooperative financial institutions. Concentra’s broad suite of offerings includes trust and custody services, mortgage investment products and equipment financing, all designed to support credit-union growth and stability.

In addition to wholesale funding and lending, Concentra Group Holdings Parent distributes life and general insurance products through affiliated insurance brokers and credit-union channels.

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