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

Zacks Investment Research lowered shares of Cross Country Healthcare (NASDAQ:CCRN) from a hold rating to a sell rating in a research report sent to investors on Tuesday.

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. “

A number of other equities research analysts also recently commented on the company. BMO Capital Markets boosted their target price on Cross Country Healthcare from $9.00 to $10.00 and gave the stock a market perform rating in a research report on Monday. Lake Street Capital upgraded Cross Country Healthcare from a hold rating to a buy rating and upped their price objective for the company from $10.00 to $12.00 in a research report on Friday, November 2nd. BidaskClub upgraded Cross Country Healthcare from a sell rating to a hold rating in a research report on Thursday, October 18th. ValuEngine upgraded Cross Country Healthcare from a strong sell rating to a sell rating in a research report on Thursday, October 4th. Finally, Stephens started coverage on Cross Country Healthcare in a research report on Tuesday, October 2nd. They set an equal weight rating on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $12.57.

Shares of NASDAQ:CCRN traded down $0.13 during mid-day trading on Tuesday, reaching $8.99. The stock had a trading volume of 2,465 shares, compared to its average volume of 247,788. The company has a current ratio of 2.24, a quick ratio of 2.33 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $330.79 million, a P/E ratio of 14.67, a P/E/G ratio of 3.91 and a beta of 0.74. Cross Country Healthcare has a 1 year low of $7.41 and a 1 year high of $14.49.

Cross Country Healthcare (NASDAQ:CCRN) last posted its earnings results on Thursday, November 1st. The business services provider reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The firm had revenue of $200.72 million during the quarter, compared to analysts’ expectations of $200.66 million. Cross Country Healthcare had a return on equity of 4.43% and a net margin of 3.67%. Cross Country Healthcare’s quarterly revenue was down 12.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.23 earnings per share. On average, research analysts forecast that Cross Country Healthcare will post 0.18 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of CCRN. Alambic Investment Management L.P. purchased a new stake in shares of Cross Country Healthcare in the second quarter worth approximately $122,000. Barclays PLC raised its holdings in shares of Cross Country Healthcare by 118.6% in the first quarter. Barclays PLC now owns 12,283 shares of the business services provider’s stock worth $136,000 after buying an additional 6,665 shares during the period. Jane Street Group LLC purchased a new stake in shares of Cross Country Healthcare in the second quarter worth approximately $138,000. SG Americas Securities LLC purchased a new stake in shares of Cross Country Healthcare in the second quarter worth approximately $177,000. Finally, Laurion Capital Management LP purchased a new stake in shares of Cross Country Healthcare in the second quarter worth approximately $219,000. Hedge funds and other institutional investors own 89.95% 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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