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

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

Wall Street Analysts Forecast Growth

CON has been the subject of several recent research reports. Weiss Ratings raised shares of Concentra Group Holdings Parent from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. The Goldman Sachs Group started coverage on shares of Concentra Group Holdings Parent in a research report on Friday, June 5th. They set a “buy” rating and a $30.00 target price on the stock. Wells Fargo & Company upped their target price on shares of 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. Finally, Truist Financial reaffirmed a “buy” rating and set a $31.00 price target (up from $29.00) on shares of Concentra Group Holdings Parent in a report on Monday, May 11th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $30.20.

Concentra Group Holdings Parent Stock Performance

The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 3.62. The company has a 50 day moving average of $25.45 and a 200 day moving average of $23.03. The firm has a market cap of $3.83 billion, a price-to-earnings ratio of 21.52, a PEG ratio of 1.37 and a beta of 0.82.

Concentra Group Holdings Parent (NYSE:CON) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $569.55 million during the quarter, compared to the consensus estimate of $553.53 million. During the same quarter in the prior year, the business posted $0.32 earnings per share. Concentra Group Holdings Parent’s revenue for the quarter was up 13.7% on a year-over-year basis. As a group, equities research analysts expect that Concentra Group Holdings Parent, Inc. will post 1.53 EPS for the current fiscal year.

Concentra Group Holdings Parent Dividend Announcement

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

Insider Activity at Concentra Group Holdings Parent

In other news, Director Robert A. Ortenzio sold 130,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director owned 763,455 shares of the company’s stock, valued at approximately $19,086,375. This trade represents a 14.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 8.10% of the company’s stock.

Institutional Trading of Concentra Group Holdings Parent

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada boosted its stake in Concentra Group Holdings Parent by 7.6% during the 1st quarter. Royal Bank of Canada now owns 81,441 shares of the company’s stock valued at $1,767,000 after acquiring an additional 5,754 shares during the last quarter. AQR Capital Management LLC acquired a new stake in shares of Concentra Group Holdings Parent in the 1st quarter valued at about $293,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of 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 purchasing an additional 2,873 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of 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 purchasing an additional 434,503 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted 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 worth $4,568,000 after purchasing 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.