Cross Country Healthcare, Inc. (CCRN) Rating Lowered to Sell at Zacks Investment Research

Cross Country Healthcare, Inc. (NASDAQ:CCRN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Monday.

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 weighed in on CCRN. TheStreet upgraded shares of Cross Country Healthcare from a “c+” rating to a “b” rating in a research report on Wednesday, September 27th. UBS AG restated a “buy” rating and issued a $15.00 price objective (down previously from $16.50) on shares of Cross Country Healthcare in a research report on Wednesday, June 14th. BidaskClub cut shares of Cross Country Healthcare from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Finally, Benchmark Co. dropped their price objective on shares of Cross Country Healthcare from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. Cross Country Healthcare has an average rating of “Hold” and a consensus price target of $15.64.

Shares of Cross Country Healthcare (NASDAQ:CCRN) opened at 13.49 on Monday. The company has a 50-day moving average price of $13.01 and a 200 day moving average price of $12.82. The firm has a market capitalization of $492.30 million, a PE ratio of 49.78 and a beta of 0.83. Cross Country Healthcare has a 52-week low of $10.88 and a 52-week high of $16.38.

Cross Country Healthcare (NASDAQ:CCRN) last announced its earnings results on Wednesday, August 2nd. The business services provider reported $0.16 EPS for the quarter, topping the consensus estimate of $0.09 by $0.07. The business had revenue of $209.31 million for the quarter, compared to the consensus estimate of $209.92 million. Cross Country Healthcare had a return on equity of 12.78% and a net margin of 1.06%. Cross Country Healthcare’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.16 EPS. Analysts expect that Cross Country Healthcare will post $0.61 EPS for the current fiscal year.

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In related news, insider William J. Grubbs sold 49,113 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $12.16, for a total value of $597,214.08. Following the completion of the transaction, the insider now owns 395,188 shares in the company, valued at approximately $4,805,486.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.20% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. raised its position in Cross Country Healthcare by 68.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 273,987 shares of the business services provider’s stock worth $3,538,000 after purchasing an additional 111,178 shares during the last quarter. Prudential Financial Inc. raised its position in shares of Cross Country Healthcare by 28.7% during the 1st quarter. Prudential Financial Inc. now owns 91,529 shares of the business services provider’s stock valued at $1,314,000 after acquiring an additional 20,384 shares during the last quarter. Eagle Boston Investment Management Inc. raised its position in shares of Cross Country Healthcare by 13.5% during the 2nd quarter. Eagle Boston Investment Management Inc. now owns 636,420 shares of the business services provider’s stock valued at $8,216,000 after acquiring an additional 75,650 shares during the last quarter. Rice Hall James & Associates LLC raised its position in shares of Cross Country Healthcare by 58.7% during the 2nd quarter. Rice Hall James & Associates LLC now owns 218,247 shares of the business services provider’s stock valued at $2,818,000 after acquiring an additional 80,729 shares during the last quarter. Finally, Mason Street Advisors LLC raised its position in shares of Cross Country Healthcare by 6.9% during the 1st quarter. Mason Street Advisors LLC now owns 7,713 shares of the business services provider’s stock valued at $111,000 after acquiring an additional 499 shares during the last quarter. Hedge funds and other institutional investors own 95.60% 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.

Analyst Recommendations for Cross Country Healthcare (NASDAQ:CCRN)

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