Analysts Set Concentra Group Holdings Parent, Inc. (NYSE:CON) Price Target at $31.40

Shares of Concentra Group Holdings Parent, Inc. (NYSE:CON) have been given an average recommendation of “Moderate Buy” by the eight research firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $34.60.

Several brokerages have recently weighed in on CON. Weiss Ratings reissued a “buy (b-)” rating on shares of Concentra Group Holdings Parent in a research note on Friday. Royal Bank Of Canada upped their target price on Concentra Group Holdings Parent from $36.00 to $42.00 and gave the company an “outperform” rating in a report on Monday. William Blair initiated coverage on shares of Concentra Group Holdings Parent in a research report on Wednesday, July 1st. They set an “outperform” rating for the company. Truist Financial raised their price target on shares of Concentra Group Holdings Parent from $37.00 to $42.00 and gave the stock a “buy” rating in a report on Monday. Finally, The Goldman Sachs Group initiated coverage on shares of Concentra Group Holdings Parent in a research report on Friday, June 5th. They issued a “buy” rating and a $30.00 price target on the stock.

Concentra Group Holdings Parent Price Performance

CON stock opened at $34.02 on Tuesday. The company has a market capitalization of $4.34 billion, a P/E ratio of 21.95, a PEG ratio of 1.53 and a beta of 0.61. The company has a fifty day moving average price of $29.98 and a 200-day moving average price of $25.53. The company has a debt-to-equity ratio of 3.22, a quick ratio of 1.38 and a current ratio of 1.38. Concentra Group Holdings Parent has a 52-week low of $18.55 and a 52-week high of $35.15.

Concentra Group Holdings Parent (NYSE:CON) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.10. The business had revenue of $606.03 million during the quarter, compared to the consensus estimate of $591.75 million. Concentra Group Holdings Parent had a return on equity of 47.81% and a net margin of 8.69%.Concentra Group Holdings Parent’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.37 earnings per share. As a group, equities analysts expect that Concentra Group Holdings Parent will post 1.55 EPS for the current year.

Concentra Group Holdings Parent Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Thursday, August 20th will be issued a $0.0625 dividend. The ex-dividend date is Thursday, August 20th. This represents a $0.25 annualized dividend and a yield of 0.7%. Concentra Group Holdings Parent’s payout ratio is presently 16.13%.

Insider Transactions at Concentra Group Holdings Parent

In other Concentra Group Holdings Parent news, Director Robert A. Ortenzio sold 130,000 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $31.84, for a total transaction of $4,139,200.00. Following the sale, the director owned 503,455 shares of the company’s stock, valued at approximately $16,030,007.20. This represents a 20.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 390,000 shares of company stock valued at $11,354,200 in the last quarter. 8.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Tributary Capital Management LLC grew its stake in Concentra Group Holdings Parent by 12.4% during the fourth quarter. Tributary Capital Management LLC now owns 566,839 shares of the company’s stock worth $11,155,000 after purchasing an additional 62,573 shares during the period. Hussman Strategic Advisors Inc. bought a new stake in Concentra Group Holdings Parent in the fourth quarter worth approximately $1,240,000. Norges Bank acquired a new position in Concentra Group Holdings Parent in the fourth quarter valued at approximately $43,404,000. First Eagle Investment Management LLC lifted its stake in Concentra Group Holdings Parent by 18.4% in the fourth quarter. First Eagle Investment Management LLC now owns 383,206 shares of the company’s stock valued at $7,541,000 after buying an additional 59,500 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in shares of Concentra Group Holdings Parent by 168.4% during the 4th quarter. SG Americas Securities LLC now owns 60,711 shares of the company’s stock worth $1,195,000 after buying an additional 38,093 shares in the last quarter.

About Concentra Group Holdings Parent

Concentra Group Holdings Parent (NYSE:CON) is a Canada-based financial services holding company that specializes in serving Canadian credit unions and their members. Through its operating subsidiaries, the group provides wholesale funding, lending solutions and investment management services tailored to the unique needs of cooperative financial institutions. Concentra’s broad suite of offerings includes trust and custody services, mortgage investment products and equipment financing, all designed to support credit-union growth and stability.

In addition to wholesale funding and lending, Concentra Group Holdings Parent distributes life and general insurance products through affiliated insurance brokers and credit-union channels.