JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Concentra Group Holdings Parent (NYSE:CON) Stock

Concentra Group Holdings Parent (NYSE:CON) had its target price upped by equities researchers at JPMorgan Chase & Co. from $34.00 to $43.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 25.99% from the stock’s current price.

A number of other equities analysts also recently weighed in on the stock. The Goldman Sachs Group started coverage on shares of Concentra Group Holdings Parent in a research note on Friday, June 5th. They issued a “buy” rating and a $30.00 target price for the company. Truist Financial raised their price target on shares of Concentra Group Holdings Parent from $37.00 to $42.00 and gave the company a “buy” rating in a report on Monday, August 10th. Zacks Research raised Concentra Group Holdings Parent from a “hold” rating to a “strong-buy” rating in a report on Monday, August 31st. Wells Fargo & Company increased their price objective on Concentra Group Holdings Parent from $28.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. Finally, Royal Bank Of Canada boosted their target price on Concentra Group Holdings Parent from $36.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $39.40.

Concentra Group Holdings Parent Price Performance

Concentra Group Holdings Parent stock traded down $0.05 on Thursday, reaching $34.13. The company’s stock had a trading volume of 55,251 shares, compared to its average volume of 890,885. The business’s fifty day moving average price is $32.94 and its 200 day moving average price is $27.34. The company has a debt-to-equity ratio of 3.22, a quick ratio of 1.38 and a current ratio of 1.38. The company has a market cap of $4.35 billion, a price-to-earnings ratio of 22.14, a PEG ratio of 1.24 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.

Concentra Group Holdings Parent (NYSE:CON) last announced its earnings results on Thursday, August 6th. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.10. The company had revenue of $606.03 million during the quarter, compared to analyst estimates of $591.75 million. Concentra Group Holdings Parent had a return on equity of 47.81% and a net margin of 8.69%.The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period last year, the company posted $0.37 earnings per share. Equities analysts expect that Concentra Group Holdings Parent will post 1.63 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Robert Ortenzio sold 130,000 shares of the business’s stock in a transaction on 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 sale, the director owned 503,455 shares of the company’s stock, 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 SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 8.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CON. California State Teachers Retirement System grew its stake in Concentra Group Holdings Parent by 2,688.0% in the second quarter. California State Teachers Retirement System now owns 3,890,586 shares of the company’s stock valued at $115,745,000 after purchasing an additional 3,751,040 shares in the last quarter. Norges Bank bought a new stake in shares of Concentra Group Holdings Parent during the 4th quarter worth approximately $43,404,000. Woodline Partners LP raised its stake in shares of Concentra Group Holdings Parent by 142.7% during the 3rd quarter. Woodline Partners LP now owns 2,746,505 shares of the company’s stock worth $57,484,000 after purchasing an additional 1,614,988 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of 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, Ancora Advisors LLC acquired a new stake in shares of Concentra Group Holdings Parent in the 2nd quarter valued at approximately $13,285,000.

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.