JPMorgan Chase & Co. Issues Positive Forecast for Concentra Group Holdings Parent (NYSE:CON) Stock Price

Concentra Group Holdings Parent (NYSE:CON) had its target price raised by analysts at JPMorgan Chase & Co. from $34.00 to $43.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 25.99% from the company’s previous close.

Several other brokerages have also weighed in on CON. William Blair assumed coverage on shares of Concentra Group Holdings Parent in a research report on Wednesday, July 1st. They issued an “outperform” rating on the stock. Truist Financial upped their price target on shares of 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. Zacks Research raised shares of Concentra Group Holdings Parent from a “hold” rating to a “strong-buy” rating in a report on Monday, August 31st. Royal Bank Of Canada raised their price objective on shares of Concentra Group Holdings Parent from $36.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. Finally, Weiss Ratings upgraded Concentra Group Holdings Parent from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company. According to data from MarketBeat, Concentra Group Holdings Parent currently has a consensus rating of “Buy” and an average price target of $39.40.

Concentra Group Holdings Parent Stock Performance

Shares of CON traded down $0.05 during mid-day trading on Thursday, reaching $34.13. The company’s stock had a trading volume of 55,251 shares, compared to its average volume of 890,885. Concentra Group Holdings Parent has a 1-year low of $18.55 and a 1-year high of $35.90. The stock has a market cap of $4.35 billion, a P/E ratio of 22.14, a PEG ratio of 1.24 and a beta of 0.63. The business has a 50-day simple moving average of $32.94 and a two-hundred day simple moving average of $27.34. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 3.22.

Concentra Group Holdings Parent (NYSE:CON) last posted its earnings results on Thursday, August 6th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.10. Concentra Group Holdings Parent had a return on equity of 47.81% and a net margin of 8.69%.The business had revenue of $606.03 million for the quarter, compared to analyst estimates of $591.75 million. During the same period in the previous year, the firm earned $0.37 EPS. The firm’s revenue was up 10.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Concentra Group Holdings Parent will post 1.63 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Robert Ortenzio sold 130,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $31.84, for a total transaction of $4,139,200.00. Following the sale, the director owned 503,455 shares of the company’s stock, valued at $16,030,007.20. This represents a 20.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 8.10% of the company’s stock.

Hedge Funds Weigh In On Concentra Group Holdings Parent

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Concentra Group Holdings Parent during the 4th quarter worth approximately $43,404,000. Fox Run Management L.L.C. bought a new position in shares of Concentra Group Holdings Parent in the fourth quarter worth about $1,089,000. Louisiana State Employees Retirement System acquired a new stake in shares of Concentra Group Holdings Parent in the 1st quarter valued at approximately $1,135,000. Brant Point Investment Management LLC acquired a new stake in shares of Concentra Group Holdings Parent in the 4th quarter valued at approximately $5,235,000. Finally, Sei Investments Co. grew its holdings in shares of Concentra Group Holdings Parent by 51.4% during the 1st quarter. Sei Investments Co. now owns 172,210 shares of the company’s stock valued at $3,694,000 after purchasing an additional 58,444 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.