Concentra Group Holdings Parent (NYSE:CON) Reaches New 12-Month High – Should You Buy?

Concentra Group Holdings Parent, Inc. (NYSE:CON) shares reached a new 52-week high during trading on Friday . The stock traded as high as $32.51 and last traded at $32.1230, with a volume of 126762 shares changing hands. The stock had previously closed at $31.53.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Truist Financial raised their price objective on shares of Concentra Group Holdings Parent from $31.00 to $37.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Weiss Ratings upgraded shares of Concentra Group Holdings Parent from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. The Goldman Sachs Group began coverage on Concentra Group Holdings Parent in a research note on Friday, June 5th. They issued a “buy” rating and a $30.00 price objective on the stock. Finally, William Blair started coverage on shares of Concentra Group Holdings Parent in a report on Wednesday, July 1st. They set an “outperform” rating for the company. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.40.

Concentra Group Holdings Parent Trading Up 0.7%

The business’s 50-day moving average price is $28.43 and its two-hundred day moving average price is $24.57. The company has a market capitalization of $4.06 billion, a P/E ratio of 22.87, a PEG ratio of 1.43 and a beta of 0.64. The company has a debt-to-equity ratio of 3.62, a current ratio of 1.26 and a quick ratio of 1.26.

Concentra Group Holdings Parent (NYSE:CON) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The company had revenue of $569.55 million for the quarter, compared to analysts’ expectations of $553.53 million. Concentra Group Holdings Parent had a return on equity of 47.14% and a net margin of 7.97%.The business’s revenue was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.32 EPS. As a group, analysts forecast that Concentra Group Holdings Parent, Inc. will post 1.52 EPS for the current fiscal year.

Concentra Group Holdings Parent Announces Dividend

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

Insider Activity

In related news, Director Robert A. Ortenzio sold 130,000 shares of the firm’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $30.50, for a total transaction of $3,965,000.00. Following the sale, the director owned 633,455 shares of the company’s stock, valued at $19,320,377.50. This trade represents a 17.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 390,000 shares of company stock worth $10,465,000 in the last three months. 8.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Concentra Group Holdings Parent

Large investors have recently modified their holdings of the business. Royal Bank of Canada raised its position in shares of Concentra Group Holdings Parent by 7.6% during the first quarter. Royal Bank of Canada now owns 81,441 shares of the company’s stock worth $1,767,000 after acquiring an additional 5,754 shares during the last quarter. AQR Capital Management LLC purchased a new stake in Concentra Group Holdings Parent in the 1st quarter valued at $293,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Concentra Group Holdings Parent by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,515 shares of the company’s stock valued at $1,422,000 after buying an additional 2,873 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Concentra Group Holdings Parent by 48.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,329,498 shares of the company’s stock valued at $28,850,000 after buying an additional 434,503 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Concentra Group Holdings Parent by 10.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 210,526 shares of the company’s stock valued at $4,568,000 after acquiring an additional 19,846 shares during 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.