Cross Country Healthcare (NASDAQ:CCRN) Earns Neutral Rating from Analysts at Wedbush

Equities researchers at Wedbush started coverage on shares of Cross Country Healthcare (NASDAQ:CCRN) in a note issued to investors on Tuesday. The brokerage set a “neutral” rating and a $11.00 price target on the business services provider’s stock. Wedbush’s target price would suggest a potential upside of 19.18% from the stock’s current price.

Several other brokerages also recently issued reports on CCRN. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cross Country Healthcare in a report on Monday, December 29th. Truist Financial set a $10.00 target price on Cross Country Healthcare in a report on Tuesday, December 16th. Benchmark reissued a “hold” rating on shares of Cross Country Healthcare in a research note on Monday, December 8th. Zacks Research upgraded Cross Country Healthcare from a “strong sell” rating to a “hold” rating in a report on Monday, January 19th. Finally, Jefferies Financial Group set a $8.65 price objective on shares of Cross Country Healthcare and gave the company a “hold” rating in a report on Thursday, December 4th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $11.32.

Cross Country Healthcare Trading Down 1.0%

Shares of NASDAQ CCRN opened at $9.23 on Tuesday. The company has a market cap of $302.37 million, a price-to-earnings ratio of -18.84, a PEG ratio of 6.21 and a beta of 0.44. Cross Country Healthcare has a 12 month low of $7.43 and a 12 month high of $18.28. The stock has a 50-day moving average price of $8.71 and a two-hundred day moving average price of $11.46.

Cross Country Healthcare (NASDAQ:CCRN) last posted its quarterly earnings results on Wednesday, November 12th. The business services provider reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The company had revenue of $250.05 million during the quarter, compared to analyst estimates of $270.72 million. Cross Country Healthcare had a negative net margin of 1.39% and a positive return on equity of 0.95%. On average, sell-side analysts predict that Cross Country Healthcare will post 0.53 earnings per share for the current year.

Hedge Funds Weigh In On Cross Country Healthcare

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Signaturefd LLC increased its position in Cross Country Healthcare by 139.9% during the 2nd quarter. Signaturefd LLC now owns 2,193 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 1,279 shares during the period. BNP Paribas Financial Markets increased its position in shares of Cross Country Healthcare by 50.0% during the second quarter. BNP Paribas Financial Markets now owns 3,424 shares of the business services provider’s stock worth $45,000 after buying an additional 1,142 shares during the period. Tower Research Capital LLC TRC increased its position in shares of Cross Country Healthcare by 422.0% during the second quarter. Tower Research Capital LLC TRC now owns 3,586 shares of the business services provider’s stock worth $47,000 after buying an additional 2,899 shares during the period. Vazirani Asset Management LLC bought a new position in Cross Country Healthcare during the third quarter worth $142,000. Finally, Brooklyn Investment Group lifted its holdings in Cross Country Healthcare by 228.9% in the third quarter. Brooklyn Investment Group now owns 10,583 shares of the business services provider’s stock valued at $150,000 after buying an additional 7,365 shares during the period. 96.03% of the stock is owned by institutional investors and hedge funds.

Cross Country Healthcare Company Profile

Cross Country Healthcare, Inc, headquartered in Boca Raton, Florida, is a leading provider of healthcare workforce solutions in the United States. The company specializes in the recruitment, placement and management of nursing and allied health professionals on both a travel and permanent basis. Through its integrated platform, Cross Country Healthcare serves hospitals, health systems, and long-term care facilities by matching qualified clinical talent with patient care needs across diverse care settings.

The company’s core service offerings include travel nurse and allied health staffing, per diem staffing, permanent placement services, and managed services programs.