Cross Country Healthcare (NASDAQ:CCRN) Raised to Hold at Zacks Research

Cross Country Healthcare (NASDAQ:CCRN) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

CCRN has been the subject of a number of other reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cross Country Healthcare in a research note on Monday, December 29th. JMP Securities set a $11.00 price target on Cross Country Healthcare in a research report on Thursday, December 4th. UBS Group dropped their price objective on Cross Country Healthcare from $16.50 to $9.00 and set a “neutral” rating on the stock in a report on Tuesday, December 9th. Jefferies Financial Group set a $8.65 target price on Cross Country Healthcare and gave the stock a “hold” rating in a research note on Thursday, December 4th. Finally, Benchmark reaffirmed a “hold” rating on shares of Cross Country Healthcare in a report on Monday, December 8th. Two equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Cross Country Healthcare presently has a consensus rating of “Hold” and an average target price of $11.38.

Cross Country Healthcare Stock Performance

Shares of CCRN opened at $8.75 on Monday. Cross Country Healthcare has a fifty-two week low of $7.43 and a fifty-two week high of $18.30. The business has a 50-day moving average of $9.13 and a 200 day moving average of $11.67. The firm has a market cap of $286.65 million, a P/E ratio of -17.86, a price-to-earnings-growth ratio of 6.11 and a beta of 0.45.

Cross Country Healthcare (NASDAQ:CCRN) last released its quarterly earnings data on Wednesday, November 12th. The business services provider reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). The business had revenue of $250.05 million for the quarter, compared to analysts’ expectations of $270.72 million. Cross Country Healthcare had a negative net margin of 1.39% and a positive return on equity of 0.95%. As a group, research analysts predict that Cross Country Healthcare will post 0.53 earnings per share for the current fiscal year.

Institutional Trading of Cross Country Healthcare

Several institutional investors and hedge funds have recently modified their holdings of CCRN. Exchange Traded Concepts LLC grew its holdings in shares of Cross Country Healthcare by 54.2% during the fourth quarter. Exchange Traded Concepts LLC now owns 31,426 shares of the business services provider’s stock worth $255,000 after purchasing an additional 11,043 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Cross Country Healthcare by 42.8% during the third quarter. JPMorgan Chase & Co. now owns 294,845 shares of the business services provider’s stock valued at $4,187,000 after purchasing an additional 88,407 shares during the last quarter. Tudor Investment Corp ET AL purchased a new position in Cross Country Healthcare in the 3rd quarter worth approximately $479,000. FNY Investment Advisers LLC increased its holdings in shares of Cross Country Healthcare by 2,300.0% in the 3rd quarter. FNY Investment Advisers LLC now owns 24,000 shares of the business services provider’s stock worth $340,000 after buying an additional 23,000 shares during the last quarter. Finally, Woodline Partners LP purchased a new stake in shares of Cross Country Healthcare during the 3rd quarter valued at $2,198,000. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Cross Country Healthcare Company Profile

Cross Country Healthcare, Inc, headquartered in Boca Raton, Florida, is a leading provider of healthcare workforce solutions in the United States. The company specializes in the recruitment, placement and management of nursing and allied health professionals on both a travel and permanent basis. Through its integrated platform, Cross Country Healthcare serves hospitals, health systems, and long-term care facilities by matching qualified clinical talent with patient care needs across diverse care settings.

The company’s core service offerings include travel nurse and allied health staffing, per diem staffing, permanent placement services, and managed services programs.