Cross Country Healthcare, Inc. (NASDAQ:CCRN) Receives $21.67 Average Price Target from Brokerages

Cross Country Healthcare, Inc. (NASDAQ:CCRN) has earned an average rating of “Hold” from the eight research firms that are currently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $21.67.

A number of research firms have recently issued reports on CCRN. Truist Financial cut their target price on shares of Cross Country Healthcare from $22.00 to $16.00 and set a “hold” rating for the company in a research note on Thursday, February 22nd. Barrington Research dropped their price objective on shares of Cross Country Healthcare from $26.00 to $24.00 and set an “outperform” rating for the company in a research report on Tuesday, February 27th. Benchmark dropped their price objective on shares of Cross Country Healthcare from $24.00 to $21.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Finally, TheStreet cut shares of Cross Country Healthcare from a “b-” rating to a “c+” rating in a research report on Friday, March 1st.

Cross Country Healthcare Stock Down 3.0 %

CCRN stock opened at $17.21 on Friday. Cross Country Healthcare has a twelve month low of $15.65 and a twelve month high of $28.75. The company has a market cap of $596.84 million, a PE ratio of 8.48, a price-to-earnings-growth ratio of 1.86 and a beta of 0.75. The business’s 50-day simple moving average is $18.41 and its 200 day simple moving average is $20.65.

Cross Country Healthcare (NASDAQ:CCRN) last announced its quarterly earnings results on Wednesday, February 21st. The business services provider reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. The firm had revenue of $414.04 million during the quarter, compared to analysts’ expectations of $404.42 million. Cross Country Healthcare had a net margin of 3.60% and a return on equity of 16.93%. The company’s revenue for the quarter was down 34.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.09 earnings per share. On average, equities research analysts anticipate that Cross Country Healthcare will post 0.94 EPS for the current year.

Insider Activity

In other news, insider Karen Mote sold 6,216 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $16.95, for a total value of $105,361.20. Following the completion of the transaction, the insider now owns 35,101 shares of the company’s stock, valued at approximately $594,961.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cross Country Healthcare

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Cross Country Healthcare by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 2,505,906 shares of the business services provider’s stock worth $56,734,000 after purchasing an additional 44,421 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Cross Country Healthcare by 14.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,189 shares of the business services provider’s stock worth $344,000 after purchasing an additional 1,970 shares during the period. Barclays PLC boosted its stake in Cross Country Healthcare by 81.2% in the 4th quarter. Barclays PLC now owns 78,389 shares of the business services provider’s stock worth $1,775,000 after purchasing an additional 35,126 shares during the period. Public Sector Pension Investment Board boosted its stake in Cross Country Healthcare by 64.8% in the 4th quarter. Public Sector Pension Investment Board now owns 68,571 shares of the business services provider’s stock worth $1,552,000 after purchasing an additional 26,974 shares during the period. Finally, Bridgeway Capital Management LLC boosted its stake in Cross Country Healthcare by 2.0% in the 4th quarter. Bridgeway Capital Management LLC now owns 481,531 shares of the business services provider’s stock worth $10,902,000 after purchasing an additional 9,408 shares during the period. Institutional investors and hedge funds own 96.03% of the company’s stock.

About Cross Country Healthcare

Cross Country Healthcare, Inc provides talent management and other consultative services for healthcare clients in the United States. The company's Nurse and Allied Staffing segment provides traditional staffing, recruiting, and value-added total talent solutions, including temporary and permanent placement of travel and local nurse and, allied professionals; temporary placement of healthcare leaders within nursing, allied, physician, and human resources; vendor neutral and managed services programs; education healthcare services; in-home care services; and outsourcing services.