Concentra Group Holdings Parent (NYSE:CON) Hits New 52-Week High – Time to Buy?

Concentra Group Holdings Parent, Inc. (NYSE:CON) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $26.73 and last traded at $26.6150, with a volume of 121006 shares traded. The stock had previously closed at $26.11.

Analysts Set New Price Targets

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

Concentra Group Holdings Parent Stock Performance

The company has a market cap of $3.49 billion, a price-to-earnings ratio of 19.62, a price-to-earnings-growth ratio of 1.21 and a beta of 0.82. The company has a debt-to-equity ratio of 3.62, a current ratio of 1.26 and a quick ratio of 1.26. The stock has a 50-day moving average price of $23.91 and a 200 day moving average price of $22.37.

Concentra Group Holdings Parent (NYSE:CON) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.05. Concentra Group Holdings Parent had a return on equity of 47.14% and a net margin of 7.97%.The business had revenue of $569.56 million during the quarter, compared to analyst estimates of $553.53 million. During the same period in the previous year, the firm earned $0.32 EPS. Concentra Group Holdings Parent’s quarterly revenue was up 13.7% compared to the same quarter last year. As a group, analysts anticipate that Concentra Group Holdings Parent, Inc. will post 1.53 EPS for the current fiscal year.

Concentra Group Holdings Parent Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 19th were issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Tuesday, May 19th. Concentra Group Holdings Parent’s dividend payout ratio is 17.99%.

Insider Activity

In related news, Director Robert A. Ortenzio sold 130,000 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $25.00, for a total transaction of $3,250,000.00. Following the sale, the director directly owned 763,455 shares in the company, valued at $19,086,375. This trade represents a 14.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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 corporate insiders.

Hedge Funds Weigh In On Concentra Group Holdings Parent

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CON. Norges Bank acquired a new stake in shares of Concentra Group Holdings Parent in the 4th quarter valued at about $43,404,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Concentra Group Holdings Parent during the third quarter worth about $35,124,000. Woodline Partners LP grew its holdings in shares of Concentra Group Holdings Parent by 142.7% during the third quarter. Woodline Partners LP now owns 2,746,505 shares of the company’s stock worth $57,484,000 after buying an additional 1,614,988 shares in the last quarter. Jennison Associates LLC raised its position in Concentra Group Holdings Parent by 195.8% in the 1st quarter. Jennison Associates LLC now owns 2,172,291 shares of the company’s stock valued at $46,596,000 after buying an additional 1,437,912 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Concentra Group Holdings Parent by 13.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,874,283 shares of the company’s stock valued at $81,089,000 after buying an additional 445,449 shares during the last quarter.

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.