Truist Financial Reiterates Buy Rating for Concentra Group Holdings Parent (NYSE:CON)

Key Points

• Truist Financial reaffirmed its Buy rating on Concentra Group Holdings Parent and raised its price target to $31 from $29, implying about 24.7% upside from the prior close.
• Concentra’s latest earnings beat expectations, with Q1 EPS of $0.40 versus the $0.35 consensus and revenue of $569.56 million topping estimates; revenue rose 13.7% year over year.
• The stock rose 2.9% to $24.85 on Monday, while broader analyst sentiment remains positive with a Moderate Buy consensus and an average target price of $30.25.

Concentra Group Holdings Parent (NYSE:CON - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at Truist Financial in a research report issued on Monday,Benzinga reports. They currently have a $31.00 price objective on the stock, up from their prior price objective of $29.00. Truist Financial's price objective would suggest a potential upside of 24.74% from the stock's previous close.

A number of other equities analysts have also recently issued reports on CON. Wells Fargo & Company increased their target price on Concentra Group Holdings Parent from $25.00 to $28.00 and gave the stock an "overweight" rating in a report on Thursday, March 5th. Royal Bank Of Canada increased their target price on Concentra Group Holdings Parent from $30.00 to $31.00 and gave the stock an "outperform" rating in a report on Monday, February 2nd. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $30.25.

Concentra Group Holdings Parent Stock Up 2.9%

NYSE CON traded up $0.69 on Monday, reaching $24.85. The stock had a trading volume of 152,313 shares, compared to its average volume of 870,675. The business has a 50 day moving average price of $22.41 and a 200 day moving average price of $21.37. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 3.62. Concentra Group Holdings Parent has a 1 year low of $18.55 and a 1 year high of $25.00. The company has a market capitalization of $3.18 billion, a price-to-earnings ratio of 17.89, a P/E/G ratio of 1.22 and a beta of 0.72.

Concentra Group Holdings Parent (NYSE:CON - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.40 EPS for the quarter, beating analysts' consensus estimates of $0.35 by $0.05. The firm had revenue of $569.56 million for the quarter, compared to the consensus estimate of $553.53 million. Concentra Group Holdings Parent had a return on equity of 47.14% and a net margin of 7.97%.The business's quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 earnings per share. On average, analysts forecast that Concentra Group Holdings Parent will post 1.49 EPS for the current fiscal year.

Institutional Investors Weigh In On Concentra Group Holdings Parent

Hedge funds and other institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. boosted its position in Concentra Group Holdings Parent by 20.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 13,367 shares of the company's stock valued at $287,000 after buying an additional 2,230 shares during the last quarter. Summit Global Investments bought a new position in Concentra Group Holdings Parent in the 1st quarter valued at $207,000. Dimensional Fund Advisors LP boosted its position in Concentra Group Holdings Parent by 4.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,107,254 shares of the company's stock valued at $66,645,000 after buying an additional 144,379 shares during the last quarter. Jennison Associates LLC boosted its position in Concentra Group Holdings Parent by 195.8% in the 1st quarter. Jennison Associates LLC now owns 2,172,291 shares of the company's stock valued at $46,596,000 after buying an additional 1,437,912 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in Concentra Group Holdings Parent by 1.6% in the 1st quarter. Principal Financial Group Inc. now owns 2,668,512 shares of the company's stock valued at $57,238,000 after buying an additional 41,891 shares during the last quarter.

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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