Concentra Group Holdings Parent (NYSE:CON) Sets New 1-Year High – Should You Buy?

Concentra Group Holdings Parent, Inc. (NYSE:CON)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $30.24 and last traded at $29.8640, with a volume of 1733 shares changing hands. The stock had previously closed at $30.18.

Analyst Upgrades and Downgrades

Several research firms recently commented on CON. Wells Fargo & Company upped their target price on Concentra Group Holdings Parent from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Thursday, March 5th. The Goldman Sachs Group assumed coverage on Concentra Group Holdings Parent in a research note on Friday, June 5th. They issued a “buy” rating and a $30.00 price target on the stock. Weiss Ratings upgraded Concentra Group Holdings Parent from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Finally, Truist Financial reaffirmed a “buy” rating and set a $31.00 price objective (up from $29.00) on shares of Concentra Group Holdings Parent in a research note on Monday, May 11th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.20.

Concentra Group Holdings Parent Stock Performance

The stock’s 50-day moving average is $25.73 and its 200-day moving average is $23.17. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of 21.43, a P/E/G ratio of 1.35 and a beta of 0.82. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 3.62.

Concentra Group Holdings Parent (NYSE:CON) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.35 by $0.05. Concentra Group Holdings Parent had a net margin of 7.97% and a return on equity of 47.14%. The firm had revenue of $569.55 million for the quarter, compared to analyst estimates of $553.53 million. During the same quarter last year, the firm posted $0.32 earnings per share. Concentra Group Holdings Parent’s revenue for the quarter was up 13.7% compared to the same quarter last year. On average, analysts expect that Concentra Group Holdings Parent, Inc. will post 1.53 EPS for the current year.

Concentra Group Holdings Parent Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 19th were paid a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Tuesday, May 19th. Concentra Group Holdings Parent’s payout ratio is currently 17.99%.

Insider Buying and Selling at Concentra Group Holdings Parent

In other news, Director Robert A. Ortenzio sold 130,000 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $25.00, for a total value of $3,250,000.00. Following the completion of the sale, the director owned 763,455 shares of the company’s stock, valued at $19,086,375. This represents a 14.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 8.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Concentra Group Holdings Parent

Several hedge funds and other institutional investors have recently bought and sold shares of CON. Oregon Public Employees Retirement Fund grew its position in Concentra Group Holdings Parent by 1.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 27,308 shares of the company’s stock valued at $537,000 after acquiring an additional 500 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Concentra Group Holdings Parent by 32.0% during the fourth quarter. Public Employees Retirement System of Ohio now owns 2,118 shares of the company’s stock worth $42,000 after purchasing an additional 514 shares in the last quarter. Gamco Investors INC. ET AL lifted its position in shares of Concentra Group Holdings Parent by 1.9% during the first quarter. Gamco Investors INC. ET AL now owns 29,256 shares of the company’s stock worth $628,000 after purchasing an additional 536 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Concentra Group Holdings Parent by 124.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,195 shares of the company’s stock valued at $25,000 after purchasing an additional 663 shares during the period. Finally, ProShare Advisors LLC boosted its stake in shares of Concentra Group Holdings Parent by 3.1% in the fourth quarter. ProShare Advisors LLC now owns 22,750 shares of the company’s stock valued at $448,000 after purchasing an additional 690 shares during the period.

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.