Brokerages Set Cross Country Healthcare, Inc. (NASDAQ:CCRN) Target Price at $12.05

Shares of Cross Country Healthcare, Inc. (NASDAQ:CCRN) have earned a consensus rating of “Reduce” from the ten ratings firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating and nine have given a hold rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $12.05.

A number of equities research analysts have weighed in on CCRN shares. Weiss Ratings upgraded Cross Country Healthcare from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday. Truist Financial increased their target price on Cross Country Healthcare from $10.00 to $13.25 and gave the company a “hold” rating in a research note on Monday, May 11th. Citigroup downgraded shares of Cross Country Healthcare from a “market outperform” rating to a “market perform” rating in a research report on Thursday, May 7th. Barrington Research restated a “market perform” rating and issued a $13.25 price target on shares of Cross Country Healthcare in a research note on Monday, June 8th. Finally, Wedbush downgraded shares of Cross Country Healthcare from an “outperform” rating to a “hold” rating and reduced their price objective for the company from $15.00 to $13.25 in a research note on Thursday, May 7th.

Institutional Investors Weigh In On Cross Country Healthcare

Institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its stake in Cross Country Healthcare by 50.0% in the second quarter. BNP Paribas Financial Markets now owns 3,424 shares of the business services provider’s stock worth $45,000 after purchasing an additional 1,142 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Cross Country Healthcare by 422.0% during the second quarter. Tower Research Capital LLC TRC now owns 3,586 shares of the business services provider’s stock valued at $47,000 after buying an additional 2,899 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Cross Country Healthcare during the fourth quarter valued at approximately $46,000. Vazirani Asset Management LLC bought a new position in Cross Country Healthcare during the 3rd quarter worth approximately $142,000. Finally, Graham Capital Management L.P. bought a new position in Cross Country Healthcare during the 4th quarter worth approximately $83,000. Institutional investors and hedge funds own 96.03% of the company’s stock.

Cross Country Healthcare Price Performance

Shares of CCRN stock opened at $13.25 on Thursday. The company’s fifty day moving average price is $13.16 and its two-hundred day moving average price is $10.66. The firm has a market capitalization of $428.11 million, a P/E ratio of -4.34, a P/E/G ratio of 14.31 and a beta of 0.45. Cross Country Healthcare has a 12 month low of $7.43 and a 12 month high of $14.99.

Cross Country Healthcare (NASDAQ:CCRN) last announced its earnings results on Thursday, May 7th. The business services provider reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.02. Cross Country Healthcare had a negative return on equity of 0.74% and a negative net margin of 9.84%.The company had revenue of $241.06 million during the quarter, compared to the consensus estimate of $237.06 million. On average, sell-side analysts anticipate that Cross Country Healthcare will post 0.09 EPS for the current year.

About Cross Country Healthcare

Cross Country Healthcare, Inc, headquartered in Boca Raton, Florida, is a leading provider of healthcare workforce solutions in the United States. The company specializes in the recruitment, placement and management of nursing and allied health professionals on both a travel and permanent basis. Through its integrated platform, Cross Country Healthcare serves hospitals, health systems, and long-term care facilities by matching qualified clinical talent with patient care needs across diverse care settings.

The company’s core service offerings include travel nurse and allied health staffing, per diem staffing, permanent placement services, and managed services programs.