Cross Country Healthcare (CCRN) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Cross Country Healthcare (NASDAQ:CCRN) from a sell rating to a hold rating in a research note published on Tuesday.

According to Zacks, “Cross Country Healthcare, Inc. is a national leader in providing innovative healthcare workforce solutions and staffing services. Their diverse client base includes both clinical and nonclinical settings, servicing acute care hospitals, physician practice groups, outpatient and ambulatory-care centers, nursing facilities, both public schools and charter schools, rehabilitation and sports medicine clinics, government facilities, and homecare. They are able to place clinicians on travel and per diem assignments, local short-term contracts and permanent positions. They are a market leader in providing flexible workforce management solutions, which include managed services programs (MSP), internal resource pool consulting and development, electronic medical record (EMR) transition staffing, recruitment process outsourcing, predictive modeling and other outsourcing and consultative services. “

Several other research analysts have also weighed in on CCRN. TheStreet upgraded Cross Country Healthcare from a c+ rating to a b rating in a research report on Wednesday, September 27th. BidaskClub upgraded Cross Country Healthcare from a sell rating to a hold rating in a research report on Saturday, December 30th. BMO Capital Markets lowered their price target on Cross Country Healthcare from $15.00 to $14.00 and set an outperform rating for the company in a research report on Monday, November 6th. Cantor Fitzgerald restated a buy rating and set a $18.00 price target on shares of Cross Country Healthcare in a research report on Wednesday, November 1st. Finally, Credit Suisse Group began coverage on Cross Country Healthcare in a research report on Tuesday, November 7th. They set a neutral rating and a $13.00 price target for the company. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $15.31.

Shares of Cross Country Healthcare (NASDAQ:CCRN) traded down $0.13 during trading on Tuesday, reaching $12.60. The company had a trading volume of 94,200 shares, compared to its average volume of 254,577. The stock has a market capitalization of $459.83, a price-to-earnings ratio of 630.00, a price-to-earnings-growth ratio of 1.63 and a beta of 0.75. Cross Country Healthcare has a 52 week low of $11.07 and a 52 week high of $16.38. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.46.

Cross Country Healthcare (NASDAQ:CCRN) last issued its quarterly earnings data on Wednesday, November 1st. The business services provider reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.05. The company had revenue of $228.50 million during the quarter, compared to analyst estimates of $228.97 million. Cross Country Healthcare had a return on equity of 11.69% and a net margin of 0.19%. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.24 earnings per share. equities research analysts predict that Cross Country Healthcare will post 0.64 earnings per share for the current fiscal year.

In other news, Director Thomas C. Dircks purchased 10,000 shares of the stock in a transaction dated Monday, November 6th. The stock was acquired at an average cost of $11.77 per share, for a total transaction of $117,700.00. Following the completion of the transaction, the director now directly owns 104,571 shares in the company, valued at approximately $1,230,800.67. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Susan E. Ball sold 25,000 shares of the stock in a transaction on Friday, December 8th. The shares were sold at an average price of $14.19, for a total value of $354,750.00. Following the completion of the sale, the general counsel now owns 126,921 shares in the company, valued at $1,801,008.99. The disclosure for this sale can be found here. Company insiders own 3.90% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in CCRN. Schwab Charles Investment Management Inc. raised its stake in shares of Cross Country Healthcare by 20.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 75,215 shares of the business services provider’s stock valued at $972,000 after acquiring an additional 12,900 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Cross Country Healthcare by 6.6% in the second quarter. Rhumbline Advisers now owns 67,363 shares of the business services provider’s stock valued at $870,000 after acquiring an additional 4,191 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Cross Country Healthcare by 3.4% in the second quarter. Bank of New York Mellon Corp now owns 545,805 shares of the business services provider’s stock valued at $7,047,000 after acquiring an additional 18,133 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Cross Country Healthcare by 5.8% in the second quarter. Legal & General Group Plc now owns 57,594 shares of the business services provider’s stock valued at $743,000 after acquiring an additional 3,174 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake in shares of Cross Country Healthcare by 57.7% in the second quarter. BNP Paribas Arbitrage SA now owns 9,998 shares of the business services provider’s stock valued at $129,000 after acquiring an additional 3,660 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

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Cross Country Healthcare Company Profile

Cross Country Healthcare, Inc is engaged in providing healthcare recruiting, staffing, recruiting and workforce solutions. The Company operates in three segments: Nurse and Allied Staffing, Physician Staffing and Other Human Capital Management Services. The Nurse and Allied Staffing segment provides traditional staffing, including temporary and permanent placement of travel nurses and allied professionals, and branch-based local nurses and allied staffing.

Analyst Recommendations for Cross Country Healthcare (NASDAQ:CCRN)

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