Cross Country Healthcare (CCRN) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Cross Country Healthcare (NASDAQ:CCRN) from a sell rating to a hold rating in a research note published on Tuesday morning.

According to Zacks, “Cross Country Healthcare, Inc. is a national leader in providing innovative healthcare workforce solutions and staffing services. Their diverse client base includes both clinical and nonclinical settings, servicing acute care hospitals, physician practice groups, outpatient and ambulatory-care centers, nursing facilities, both public schools and charter schools, rehabilitation and sports medicine clinics, government facilities, and homecare. They are able to place clinicians on travel and per diem assignments, local short-term contracts and permanent positions. They are a market leader in providing flexible workforce management solutions, which include managed services programs (MSP), internal resource pool consulting and development, electronic medical record (EMR) transition staffing, recruitment process outsourcing, predictive modeling and other outsourcing and consultative services. “

Several other analysts also recently commented on the stock. Credit Suisse Group started coverage on shares of Cross Country Healthcare in a report on Tuesday, November 7th. They issued a neutral rating and a $13.00 price objective on the stock. Cantor Fitzgerald reaffirmed a buy rating and issued a $18.00 price objective on shares of Cross Country Healthcare in a report on Wednesday, November 1st. BMO Capital Markets dropped their price objective on shares of Cross Country Healthcare from $15.00 to $14.00 and set an outperform rating on the stock in a report on Monday, November 6th. BidaskClub downgraded shares of Cross Country Healthcare from a hold rating to a sell rating in a report on Thursday, December 21st. Finally, TheStreet downgraded shares of Cross Country Healthcare from a b- rating to a c+ rating in a report on Friday, November 3rd. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $15.31.

Cross Country Healthcare (NASDAQ:CCRN) traded up $0.21 during mid-day trading on Tuesday, hitting $12.92. 110,393 shares of the stock traded hands, compared to its average volume of 212,967. The stock has a market cap of $463.84, a P/E ratio of 646.00, a P/E/G ratio of 1.63 and a beta of 0.75. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.14 and a quick ratio of 2.14. Cross Country Healthcare has a fifty-two week low of $11.07 and a fifty-two week high of $16.38.

Cross Country Healthcare (NASDAQ:CCRN) last released its quarterly earnings data on Wednesday, November 1st. The business services provider reported $0.23 EPS for the quarter, beating the consensus estimate of $0.18 by $0.05. The business had revenue of $228.50 million for the quarter, compared to the consensus estimate of $228.97 million. Cross Country Healthcare had a net margin of 0.19% and a return on equity of 11.69%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.24 EPS. equities analysts forecast that Cross Country Healthcare will post 0.64 earnings per share for the current year.

In other news, Director Thomas C. Dircks bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The stock was purchased at an average cost of $11.77 per share, for a total transaction of $117,700.00. Following the purchase, the director now directly owns 104,571 shares in the company, valued at approximately $1,230,800.67. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Susan E. Ball sold 25,000 shares of the business’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $14.19, for a total transaction of $354,750.00. Following the completion of the transaction, the general counsel now owns 126,921 shares of the company’s stock, valued at $1,801,008.99. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Argent Capital Management LLC lifted its stake in shares of Cross Country Healthcare by 29.5% in the 3rd quarter. Argent Capital Management LLC now owns 130,289 shares of the business services provider’s stock valued at $1,854,000 after purchasing an additional 29,675 shares during the period. Highbridge Capital Management LLC acquired a new position in shares of Cross Country Healthcare in the 3rd quarter valued at $402,000. Cornerstone Capital Management Holdings LLC. lifted its stake in shares of Cross Country Healthcare by 37.5% in the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 110,700 shares of the business services provider’s stock valued at $1,574,000 after purchasing an additional 30,200 shares during the period. Royce & Associates LP lifted its stake in shares of Cross Country Healthcare by 8.2% in the 3rd quarter. Royce & Associates LP now owns 857,675 shares of the business services provider’s stock valued at $12,205,000 after purchasing an additional 65,211 shares during the period. Finally, OxFORD Asset Management LLP lifted its stake in shares of Cross Country Healthcare by 137.5% in the 3rd quarter. OxFORD Asset Management LLP now owns 124,906 shares of the business services provider’s stock valued at $1,774,000 after purchasing an additional 72,308 shares during the period. Hedge funds and other institutional investors own 92.08% of the company’s stock.

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Cross Country Healthcare Company Profile

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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