Concentra Group Holdings Parent, Inc. (NYSE:CON) Receives Average Rating of “Buy” from Brokerages

Concentra Group Holdings Parent, Inc. (NYSE:CON) has been assigned an average rating of “Buy” from the eight analysts that are presently covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $37.00.

CON has been the subject of several analyst reports. Zacks Research raised shares of Concentra Group Holdings Parent from a “hold” rating to a “strong-buy” rating in a report on Monday, August 31st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Concentra Group Holdings Parent in a research report on Friday, August 7th. William Blair began coverage on shares of Concentra Group Holdings Parent in a research report on Wednesday, July 1st. They issued an “outperform” rating on the stock. Royal Bank Of Canada boosted their target price on shares of Concentra Group Holdings Parent from $36.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. Finally, The Goldman Sachs Group started coverage on Concentra Group Holdings Parent in a report on Friday, June 5th. They set a “buy” rating and a $30.00 price target on the stock.

Insider Activity at Concentra Group Holdings Parent

In related news, Director Robert Ortenzio sold 130,000 shares of Concentra Group Holdings Parent stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $31.84, for a total transaction of $4,139,200.00. Following the sale, the director directly owned 503,455 shares in the company, valued at $16,030,007.20. The trade was a 20.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 8.10% of the company’s stock.

Hedge Funds Weigh In On Concentra Group Holdings Parent

Large investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC lifted its stake in shares of Concentra Group Holdings Parent by 124.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,195 shares of the company’s stock worth $25,000 after acquiring an additional 663 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in shares of Concentra Group Holdings Parent by 2,784.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 1,442 shares of the company’s stock valued at $30,000 after acquiring an additional 1,392 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of Concentra Group Holdings Parent by 49.1% during the third quarter. Public Employees Retirement System of Ohio now owns 1,604 shares of the company’s stock valued at $34,000 after acquiring an additional 528 shares during the period. Kestra Advisory Services LLC bought a new stake in Concentra Group Holdings Parent during the fourth quarter worth approximately $35,000. Finally, Osaic Holdings Inc. lifted its position in Concentra Group Holdings Parent by 59.5% in the second quarter. Osaic Holdings Inc. now owns 2,041 shares of the company’s stock worth $42,000 after purchasing an additional 761 shares during the period.

Concentra Group Holdings Parent Stock Down 0.2%

Shares of Concentra Group Holdings Parent stock opened at $34.44 on Friday. The stock has a market capitalization of $4.39 billion, a price-to-earnings ratio of 22.22, a PEG ratio of 1.29 and a beta of 0.63. Concentra Group Holdings Parent has a twelve month low of $18.55 and a twelve month high of $35.90. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 3.22. The business’s 50 day simple moving average is $32.70 and its 200-day simple moving average is $27.10.

Concentra Group Holdings Parent (NYSE:CON) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $591.75 million. During the same quarter in the previous year, the firm posted $0.37 EPS. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. Equities research analysts forecast that Concentra Group Holdings Parent will post 1.6 earnings per share for the current year.

Concentra Group Holdings Parent Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Thursday, August 20th were paid a $0.0625 dividend. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $0.25 annualized dividend and a dividend yield of 0.7%. Concentra Group Holdings Parent’s dividend payout ratio is presently 16.13%.

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.