Concentra Group Holdings Parent (NYSE:CON) Hits New 52-Week High – Still a Buy?

Concentra Group Holdings Parent, Inc. (NYSE:CON) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $26.73 and last traded at $26.6150, with a volume of 121006 shares traded. The stock had previously closed at $26.11.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CON. Weiss Ratings raised Concentra Group Holdings Parent from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Wells Fargo & Company raised their target price on shares of Concentra Group Holdings Parent from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Thursday, March 5th. The Goldman Sachs Group began coverage on shares of 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. Finally, Truist Financial reiterated a “buy” rating and set a $31.00 price target (up from $29.00) on shares of Concentra Group Holdings Parent in a research report on Monday, May 11th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $30.20.

Concentra Group Holdings Parent Trading Up 1.5%

The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 3.62. The firm has a 50-day moving average of $23.68 and a two-hundred day moving average of $22.27. The firm has a market capitalization of $3.39 billion, a P/E ratio of 19.10, a P/E/G ratio of 1.15 and a beta of 0.82.

Concentra Group Holdings Parent (NYSE:CON) last posted its earnings results on Thursday, May 7th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The firm had revenue of $569.56 million during the quarter, compared to analysts’ expectations of $553.53 million. Concentra Group Holdings Parent had a net margin of 7.97% and a return on equity of 47.14%. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.32 earnings per share. On average, analysts anticipate that Concentra Group Holdings Parent, Inc. will post 1.53 EPS for the current year.

Concentra Group Holdings Parent Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 19th were paid a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, May 19th. Concentra Group Holdings Parent’s payout ratio is presently 17.99%.

Insider Activity at Concentra Group Holdings Parent

In related news, Director Robert A. Ortenzio sold 130,000 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $25.00, for a total transaction of $3,250,000.00. Following the sale, the director owned 763,455 shares of the company’s stock, valued at $19,086,375. This trade represents a 14.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 8.10% of the company’s stock.

Institutional Trading of Concentra Group Holdings Parent

A number of hedge funds have recently made changes to their positions in the company. Segall Bryant & Hamill LLC bought a new stake in shares of Concentra Group Holdings Parent during the first quarter worth about $1,811,000. Argent Capital Management LLC grew its holdings in Concentra Group Holdings Parent by 42.0% during the 1st quarter. Argent Capital Management LLC now owns 47,898 shares of the company’s stock worth $1,027,000 after acquiring an additional 14,173 shares during the last quarter. Janus Henderson Group PLC increased its position in Concentra Group Holdings Parent by 722.9% in the 1st quarter. Janus Henderson Group PLC now owns 419,772 shares of the company’s stock valued at $9,003,000 after acquiring an additional 368,761 shares during the period. California State Teachers Retirement System increased its position in Concentra Group Holdings Parent by 25.7% in the 1st quarter. California State Teachers Retirement System now owns 139,546 shares of the company’s stock valued at $2,993,000 after acquiring an additional 28,516 shares during the period. Finally, Royal Bank of Canada raised its stake in shares of Concentra Group Holdings Parent by 1.4% during the first quarter. Royal Bank of Canada now owns 213,965 shares of the company’s stock valued at $4,590,000 after acquiring an additional 3,058 shares during the last quarter.

About Concentra Group Holdings Parent

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.