Barrington Research Trims Cross Country Healthcare (NASDAQ:CCRN) Target Price to $21.00

Cross Country Healthcare (NASDAQ:CCRN) had its price objective lowered by research analysts at Barrington Research from $24.00 to $21.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the business services provider’s stock. Barrington Research’s target price points to a potential upside of 26.81% from the stock’s previous close.

A number of other brokerages have also recently commented on CCRN. Benchmark lowered their price target on Cross Country Healthcare from $21.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday. Truist Financial decreased their price objective on Cross Country Healthcare from $22.00 to $16.00 and set a “hold” rating for the company in a report on Thursday, February 22nd. Finally, TheStreet cut Cross Country Healthcare from a “b-” rating to a “c+” rating in a report on Friday, March 1st. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $20.83.

Cross Country Healthcare Price Performance

CCRN traded down $0.11 on Monday, reaching $16.56. 36,645 shares of the stock were exchanged, compared to its average volume of 447,359. The company’s 50-day moving average price is $17.92 and its 200 day moving average price is $19.99. Cross Country Healthcare has a fifty-two week low of $15.65 and a fifty-two week high of $28.75. The firm has a market capitalization of $575.79 million, a PE ratio of 12.78, a PEG ratio of 2.17 and a beta of 0.77.

Cross Country Healthcare (NASDAQ:CCRN) last issued its quarterly earnings results on Wednesday, May 1st. The business services provider reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. Cross Country Healthcare had a return on equity of 11.69% and a net margin of 2.58%. The company had revenue of $379.17 million during the quarter, compared to analysts’ expectations of $374.38 million. During the same quarter in the previous year, the firm posted $0.84 EPS. The firm’s revenue was down 39.1% compared to the same quarter last year. As a group, equities analysts forecast that Cross Country Healthcare will post 0.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cross Country Healthcare news, insider Karen Mote sold 6,216 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $16.95, for a total transaction of $105,361.20. Following the transaction, the insider now owns 35,101 shares in the company, valued at $594,961.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 4.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cross Country Healthcare

A number of hedge funds have recently bought and sold shares of CCRN. Blair William & Co. IL acquired a new position in shares of Cross Country Healthcare during the third quarter valued at approximately $2,550,000. Jacobs Levy Equity Management Inc. raised its holdings in shares of Cross Country Healthcare by 63.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 370,224 shares of the business services provider’s stock valued at $9,178,000 after acquiring an additional 144,035 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Cross Country Healthcare by 80.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 401,887 shares of the business services provider’s stock valued at $9,963,000 after acquiring an additional 179,093 shares during the last quarter. Paradiem LLC raised its holdings in shares of Cross Country Healthcare by 5.0% during the third quarter. Paradiem LLC now owns 131,989 shares of the business services provider’s stock valued at $3,272,000 after acquiring an additional 6,341 shares during the last quarter. Finally, Qube Research & Technologies Ltd raised its holdings in shares of Cross Country Healthcare by 946.0% during the third quarter. Qube Research & Technologies Ltd now owns 115,318 shares of the business services provider’s stock valued at $2,859,000 after acquiring an additional 104,293 shares during the last quarter. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Cross Country Healthcare Company Profile

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.