Zacks Investment Research downgraded shares of Cross Country Healthcare, Inc. (NASDAQ:CCRN) from a hold rating to a sell rating in a research report sent to investors on Tuesday.
According to Zacks, “Cross Country, Inc. is a provider of healthcare staffing services. They also provide staffing of clinical research professionals and allied healthcare professionals, such as radiology technicians, rehabilitation therapists and respiratory therapists. Their staffing operations are complemented by other human capital management services, including search and recruitment, consulting, education and training and resource management services. “
Several other research analysts have also recently commented on CCRN. BMO Capital Markets reiterated a buy rating and set a $17.00 price target on shares of Cross Country Healthcare in a report on Monday, January 9th. Benchmark Co. started coverage on shares of Cross Country Healthcare in a report on Friday, January 20th. They set a buy rating and a $19.00 price target for the company. Avondale Partners cut shares of Cross Country Healthcare from an outperform rating to a market perform rating and set a $15.50 price target for the company. in a report on Tuesday, January 24th. Lake Street Capital started coverage on shares of Cross Country Healthcare in a report on Wednesday, February 15th. They set a buy rating and a $17.00 price target for the company. Finally, TheStreet cut shares of Cross Country Healthcare from a b- rating to a c rating in a report on Thursday, March 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. Cross Country Healthcare currently has an average rating of Buy and a consensus target price of $16.58.
Shares of Cross Country Healthcare (NASDAQ:CCRN) opened at 12.21 on Tuesday. The firm’s market capitalization is $444.85 million. Cross Country Healthcare has a 52 week low of $10.53 and a 52 week high of $16.38. The firm has a 50-day moving average of $13.81 and a 200 day moving average of $14.35.
Cross Country Healthcare (NASDAQ:CCRN) last posted its quarterly earnings results on Wednesday, May 3rd. The business services provider reported $0.05 EPS for the quarter, topping the consensus estimate of $0.01 by $0.04. Cross Country Healthcare had a net margin of 1.21% and a return on equity of 25.48%. The company had revenue of $207.57 million during the quarter, compared to analysts’ expectations of $212.43 million. On average, equities research analysts expect that Cross Country Healthcare will post $0.63 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Thrivent Financial for Lutherans boosted its position in shares of Cross Country Healthcare by 1.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 75,350 shares of the business services provider’s stock valued at $1,177,000 after buying an additional 780 shares during the last quarter. Kornitzer Capital Management Inc. KS bought a new position in shares of Cross Country Healthcare during the third quarter valued at about $1,594,000. Cadence Capital Management LLC boosted its position in shares of Cross Country Healthcare by 2.5% in the fourth quarter. Cadence Capital Management LLC now owns 76,143 shares of the business services provider’s stock valued at $1,189,000 after buying an additional 1,838 shares during the last quarter. ETRADE Capital Management LLC bought a new position in shares of Cross Country Healthcare during the third quarter valued at about $1,053,000. Finally, GSA Capital Partners LLP bought a new position in shares of Cross Country Healthcare during the fourth quarter valued at about $1,269,000. Institutional investors and hedge funds own 98.35% of the company’s stock.
About Cross Country Healthcare
Cross Country Healthcare, Inc is engaged in providing healthcare recruiting, staffing, recruiting and workforce solutions. The Company operates in three segments: Nurse and Allied Staffing, Physician Staffing and Other Human Capital Management Services. The Nurse and Allied Staffing segment provides traditional staffing, including temporary and permanent placement of travel nurses and allied professionals, and branch-based local nurses and allied staffing.
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