Concentra Group Holdings Parent (NYSE:CON) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Concentra Group Holdings Parent (NYSE:CON) from a hold rating to a strong-buy rating in a research report released on Monday,Zacks reports.

Several other research analysts have also weighed in on the company. William Blair assumed coverage on Concentra Group Holdings Parent in a research report on Wednesday, July 1st. They issued an “outperform” rating for the company. Royal Bank Of Canada lifted their target price on Concentra Group Holdings Parent from $36.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, August 10th. Truist Financial upped their price target on Concentra Group Holdings Parent from $37.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Concentra Group Holdings Parent in a report on Friday, August 7th. Finally, The Goldman Sachs Group began coverage on Concentra Group Holdings Parent in a research report on Friday, June 5th. They set a “buy” rating and a $30.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. According to data from MarketBeat.com, Concentra Group Holdings Parent presently has a consensus rating of “Buy” and a consensus price target of $37.00.

Concentra Group Holdings Parent Price Performance

Shares of CON stock opened at $33.95 on Monday. The company has a debt-to-equity ratio of 3.22, a current ratio of 1.38 and a quick ratio of 1.38. The company has a market capitalization of $4.33 billion, a PE ratio of 21.90, a price-to-earnings-growth ratio of 1.26 and a beta of 0.63. The firm’s 50-day moving average is $32.41 and its two-hundred day moving average is $26.90. Concentra Group Holdings Parent has a 12 month low of $18.55 and a 12 month high of $35.90.

Concentra Group Holdings Parent (NYSE:CON) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.10. The business had revenue of $606.03 million during the quarter, compared to analysts’ expectations of $591.75 million. Concentra Group Holdings Parent had a net margin of 8.69% and a return on equity of 47.81%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.37 EPS. Analysts predict that Concentra Group Holdings Parent will post 1.6 earnings per share for the current year.

Concentra Group Holdings Parent Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Thursday, August 20th were given a dividend of $0.0625 per share. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.7%. Concentra Group Holdings Parent’s dividend payout ratio (DPR) is presently 16.13%.

Insiders Place Their Bets

In related news, Director Robert A. Ortenzio sold 130,000 shares of Concentra Group Holdings Parent stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $31.84, for a total value of $4,139,200.00. Following the completion of the sale, the director owned 503,455 shares in the company, valued at approximately $16,030,007.20. This trade represents a 20.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 8.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CON. Norges Bank purchased a new stake in shares of Concentra Group Holdings Parent in the 4th quarter valued at $43,404,000. First Eagle Investment Management LLC boosted its holdings in Concentra Group Holdings Parent by 18.4% during the 4th quarter. First Eagle Investment Management LLC now owns 383,206 shares of the company’s stock valued at $7,541,000 after acquiring an additional 59,500 shares during the period. Fox Run Management L.L.C. purchased a new position in Concentra Group Holdings Parent during the 4th quarter valued at about $1,089,000. Louisiana State Employees Retirement System purchased a new position in Concentra Group Holdings Parent during the 1st quarter valued at about $1,135,000. Finally, Brant Point Investment Management LLC acquired a new position in Concentra Group Holdings Parent in the 4th quarter valued at about $5,235,000.

Concentra Group Holdings Parent Company Profile

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.