Brokerages Set Cross Country Healthcare, Inc. (NASDAQ:CCRN) Price Target at $21.67

Cross Country Healthcare, Inc. (NASDAQ:CCRN) has earned an average recommendation of “Hold” from the eight brokerages that are presently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $21.67.

CCRN has been the subject of several research reports. Barrington Research dropped their price objective on shares of Cross Country Healthcare from $26.00 to $24.00 and set an “outperform” rating for the company in a research note on Tuesday, February 27th. Benchmark dropped their price target on shares of Cross Country Healthcare from $24.00 to $21.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. TheStreet downgraded shares of Cross Country Healthcare from a “b-” rating to a “c+” rating in a research note on Friday, March 1st. Finally, Truist Financial dropped their price target on shares of Cross Country Healthcare from $22.00 to $16.00 and set a “hold” rating for the company in a research note on Thursday, February 22nd.

Cross Country Healthcare Stock Performance

Shares of CCRN stock opened at $17.56 on Friday. The stock has a market cap of $608.93 million, a price-to-earnings ratio of 8.65, a PEG ratio of 1.86 and a beta of 0.75. Cross Country Healthcare has a 52-week low of $15.65 and a 52-week high of $28.75. The firm’s 50-day moving average is $18.45 and its 200-day moving average is $20.70.

Cross Country Healthcare (NASDAQ:CCRN) last announced its earnings results on Wednesday, February 21st. The business services provider reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. Cross Country Healthcare had a net margin of 3.60% and a return on equity of 16.93%. The firm had revenue of $414.04 million for the quarter, compared to analyst estimates of $404.42 million. During the same quarter in the prior year, the business posted $1.09 EPS. The business’s revenue was down 34.1% compared to the same quarter last year. Sell-side analysts predict that Cross Country Healthcare will post 0.94 EPS for the current fiscal year.

Insider Activity

In other news, insider Karen Mote sold 6,216 shares of Cross Country Healthcare stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $16.95, for a total transaction of $105,361.20. Following the completion of the transaction, the insider now directly owns 35,101 shares in the company, valued at $594,961.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.50% of the company’s stock.

Institutional Trading of Cross Country Healthcare

Several hedge funds have recently added to or reduced their stakes in CCRN. Public Employees Retirement System of Ohio raised its position in shares of Cross Country Healthcare by 3.4% in the third quarter. Public Employees Retirement System of Ohio now owns 12,416 shares of the business services provider’s stock valued at $352,000 after purchasing an additional 403 shares during the period. Legal & General Group Plc grew its stake in Cross Country Healthcare by 0.5% during the fourth quarter. Legal & General Group Plc now owns 84,974 shares of the business services provider’s stock valued at $2,258,000 after acquiring an additional 431 shares in the last quarter. Lazard Asset Management LLC grew its stake in Cross Country Healthcare by 5.7% during the fourth quarter. Lazard Asset Management LLC now owns 8,051 shares of the business services provider’s stock valued at $213,000 after acquiring an additional 433 shares in the last quarter. Gladius Capital Management LP grew its stake in Cross Country Healthcare by 37.1% during the fourth quarter. Gladius Capital Management LP now owns 1,902 shares of the business services provider’s stock valued at $43,000 after acquiring an additional 515 shares in the last quarter. Finally, SummerHaven Investment Management LLC grew its stake in Cross Country Healthcare by 2.0% during the fourth quarter. SummerHaven Investment Management LLC now owns 26,927 shares of the business services provider’s stock valued at $610,000 after acquiring an additional 520 shares in the last quarter. Institutional investors own 96.03% of the company’s stock.

Cross Country Healthcare Company Profile

Cross Country Healthcare, Inc provides talent management and other consultative services for healthcare clients in the United States. The company's Nurse and Allied Staffing segment provides traditional staffing, recruiting, and value-added total talent solutions, including temporary and permanent placement of travel and local nurse and, allied professionals; temporary placement of healthcare leaders within nursing, allied, physician, and human resources; vendor neutral and managed services programs; education healthcare services; in-home care services; and outsourcing services.