Cross Country Healthcare (NASDAQ:CCRN) Given New $21.00 Price Target at Barrington Research

Cross Country Healthcare (NASDAQ:CCRN) had its price objective trimmed by Barrington Research from $24.00 to $21.00 in a research note released on Monday morning, Benzinga reports. The firm currently has an outperform rating on the business services provider’s stock.

Several other research firms have also recently issued reports on CCRN. TheStreet cut Cross Country Healthcare from a b- rating to a c+ rating in a report on Friday, March 1st. Benchmark decreased their price target on Cross Country Healthcare from $21.00 to $19.00 and set a buy rating on the stock in a research note on Thursday, May 2nd. Finally, Truist Financial dropped their price objective 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. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $20.83.

Cross Country Healthcare Price Performance

Cross Country Healthcare stock opened at $16.02 on Monday. Cross Country Healthcare has a 1-year low of $15.65 and a 1-year high of $28.75. The stock’s 50 day moving average price is $17.90 and its 200 day moving average price is $19.95. The company has a market cap of $557.02 million, a PE ratio of 12.32, a price-to-earnings-growth ratio of 2.17 and a beta of 0.77.

Cross Country Healthcare (NASDAQ:CCRN) last posted its earnings results on Wednesday, May 1st. The business services provider reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. Cross Country Healthcare had a return on equity of 11.69% and a net margin of 2.58%. The company had revenue of $379.17 million for the quarter, compared to the consensus estimate of $374.38 million. During the same period in the previous year, the business earned $0.84 earnings per share. Cross Country Healthcare’s quarterly revenue was down 39.1% compared to the same quarter last year. On average, equities research analysts anticipate that Cross Country Healthcare will post 0.77 EPS for the current fiscal year.

Insider Activity

In other Cross Country Healthcare news, insider Karen Mote sold 6,216 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now directly owns 35,101 shares in the company, valued at $594,961.95. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 4.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wasatch Advisors LP raised its stake in shares of Cross Country Healthcare by 74.3% in the 4th quarter. Wasatch Advisors LP now owns 2,193,604 shares of the business services provider’s stock valued at $49,663,000 after purchasing an additional 934,841 shares in the last quarter. Pacer Advisors Inc. raised its stake in Cross Country Healthcare by 50.5% during the fourth quarter. Pacer Advisors Inc. now owns 2,489,580 shares of the business services provider’s stock valued at $56,364,000 after buying an additional 834,941 shares in the last quarter. LSV Asset Management lifted its holdings in Cross Country Healthcare by 218.0% during the 3rd quarter. LSV Asset Management now owns 343,678 shares of the business services provider’s stock worth $8,520,000 after buying an additional 235,600 shares during the last quarter. Kestrel Investment Management Corp acquired a new position in shares of Cross Country Healthcare in the 3rd quarter worth approximately $5,171,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Cross Country Healthcare by 80.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 401,887 shares of the business services provider’s stock valued at $9,963,000 after acquiring an additional 179,093 shares during the last quarter. Institutional investors and hedge funds 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.