Cross Country Healthcare (NASDAQ:CCRN) Lifted to “Buy” at ValuEngine

ValuEngine upgraded shares of Cross Country Healthcare (NASDAQ:CCRN) from a hold rating to a buy rating in a research note released on Thursday, ValuEngine reports.

Several other research firms also recently weighed in on CCRN. Barrington Research set a $10.00 price target on Cross Country Healthcare and gave the stock a buy rating in a research note on Monday, May 20th. Zacks Investment Research upgraded Cross Country Healthcare from a hold rating to a buy rating and set a $10.00 price target for the company in a research note on Wednesday, July 3rd. Finally, BidaskClub upgraded Cross Country Healthcare from a hold rating to a buy rating in a research report on Saturday, July 27th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $10.00.

CCRN stock traded down $0.38 during midday trading on Thursday, hitting $9.25. The company’s stock had a trading volume of 229,209 shares, compared to its average volume of 123,831. Cross Country Healthcare has a 12 month low of $6.75 and a 12 month high of $10.27. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.99 and a quick ratio of 2.08. The company has a market capitalization of $354.63 million, a price-to-earnings ratio of 77.08, a price-to-earnings-growth ratio of 22.22 and a beta of 1.28. The business has a 50 day moving average price of $9.03.

Cross Country Healthcare (NASDAQ:CCRN) last posted its quarterly earnings results on Wednesday, July 31st. The business services provider reported $0.01 earnings per share for the quarter. Cross Country Healthcare had a positive return on equity of 0.62% and a negative net margin of 9.20%. The business had revenue of $202.80 million during the quarter, compared to the consensus estimate of $199.46 million. During the same period in the prior year, the company posted $0.05 EPS. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. On average, analysts expect that Cross Country Healthcare will post 0.07 EPS for the current year.

In other news, CEO Kevin Cronin Clark bought 8,330 shares of the stock in a transaction dated Friday, June 14th. The stock was purchased at an average cost of $8.00 per share, for a total transaction of $66,640.00. Following the transaction, the chief executive officer now owns 250,734 shares of the company’s stock, valued at $2,005,872. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 3.80% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of Cross Country Healthcare by 3.4% during the 4th quarter. BlackRock Inc. now owns 5,257,750 shares of the business services provider’s stock valued at $38,540,000 after acquiring an additional 175,006 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Cross Country Healthcare by 6.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,387,342 shares of the business services provider’s stock valued at $17,499,000 after buying an additional 155,059 shares during the period. JPMorgan Chase & Co. raised its holdings in Cross Country Healthcare by 38.5% during the 1st quarter. JPMorgan Chase & Co. now owns 1,815,353 shares of the business services provider’s stock valued at $12,762,000 after buying an additional 504,192 shares during the period. Systematic Financial Management LP raised its holdings in Cross Country Healthcare by 45.6% during the 1st quarter. Systematic Financial Management LP now owns 1,717,400 shares of the business services provider’s stock valued at $12,073,000 after buying an additional 538,160 shares during the period. Finally, Royce & Associates LP raised its holdings in Cross Country Healthcare by 8.6% during the 1st quarter. Royce & Associates LP now owns 1,216,811 shares of the business services provider’s stock valued at $8,554,000 after buying an additional 96,500 shares during the period. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Cross Country Healthcare Company Profile

Cross Country Healthcare, Inc provides healthcare staffing, recruiting, and workforce solutions in the United States. The company operates in three segments: Nurse and Allied Staffing, Physician Staffing, and Other Human Capital Management Services. The Nurse and Allied Staffing segment offers traditional staffing, including temporary and permanent placement of travel nurses and allied professionals, branch-based local nurses, and allied staffing; short-term staffing of registered nurses, licensed practical nurses, certified nurse assistants, practitioners, pharmacists, and other allied professionals on per diem and short-term assignments; and travel allied professionals on long-term contract assignments.

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