Cross Country Healthcare (CCRN) Lifted to “Buy” at BidaskClub

BidaskClub upgraded shares of Cross Country Healthcare (NASDAQ:CCRN) from a hold rating to a buy rating in a report released on Saturday.

CCRN has been the subject of several other research reports. Zacks Investment Research raised Cross Country Healthcare from a sell rating to a hold rating in a research note on Tuesday, January 9th. SunTrust Banks reaffirmed a buy rating on shares of Cross Country Healthcare in a research note on Friday, March 2nd. Cantor Fitzgerald downgraded Cross Country Healthcare from an overweight rating to a neutral rating in a research note on Friday, March 2nd. BMO Capital Markets reaffirmed an outperform rating and issued a $13.00 price objective (down previously from $14.00) on shares of Cross Country Healthcare in a research note on Tuesday, March 6th. Finally, Benchmark downgraded Cross Country Healthcare from a buy rating to a hold rating and set a $19.00 price objective for the company. in a research note on Thursday, March 1st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. The stock has an average rating of Hold and an average price target of $15.14.

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Cross Country Healthcare stock opened at $11.11 on Friday. Cross Country Healthcare has a 1 year low of $9.07 and a 1 year high of $15.09. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.21 and a quick ratio of 2.21. The company has a market capitalization of $404.76, a PE ratio of 18.21, a PEG ratio of 1.98 and a beta of 0.91.

Cross Country Healthcare (NASDAQ:CCRN) last released its quarterly earnings data on Wednesday, February 28th. The business services provider reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.02). Cross Country Healthcare had a net margin of 4.34% and a return on equity of 10.24%. The firm had revenue of $219.67 million during the quarter, compared to analyst estimates of $225.60 million. During the same period in the prior year, the company earned $0.20 EPS. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. sell-side analysts predict that Cross Country Healthcare will post 0.5 EPS for the current fiscal year.

In related news, CEO William J. Grubbs bought 10,000 shares of Cross Country Healthcare stock in a transaction that occurred on Monday, March 5th. The shares were acquired at an average cost of $11.18 per share, for a total transaction of $111,800.00. Following the completion of the acquisition, the chief executive officer now directly owns 353,741 shares of the company’s stock, valued at approximately $3,954,824.38. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director W Larry Cash bought 5,000 shares of Cross Country Healthcare stock in a transaction that occurred on Monday, March 5th. The stock was bought at an average price of $11.23 per share, for a total transaction of $56,150.00. Following the completion of the acquisition, the director now directly owns 113,580 shares of the company’s stock, valued at $1,275,503.40. The disclosure for this purchase can be found here. Corporate insiders own 3.90% of the company’s stock.

Several institutional investors have recently bought and sold shares of CCRN. Renaissance Technologies LLC bought a new position in shares of Cross Country Healthcare during the 4th quarter worth approximately $156,000. Teacher Retirement System of Texas bought a new position in shares of Cross Country Healthcare during the 4th quarter worth approximately $162,000. MetLife Investment Advisors LLC bought a new position in shares of Cross Country Healthcare during the 4th quarter worth approximately $210,000. BNP Paribas Arbitrage SA boosted its holdings in shares of Cross Country Healthcare by 85.0% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 18,500 shares of the business services provider’s stock worth $263,000 after buying an additional 8,502 shares in the last quarter. Finally, Highbridge Capital Management LLC bought a new position in shares of Cross Country Healthcare during the 3rd quarter worth approximately $402,000. Hedge funds and other institutional investors own 94.43% of the company’s stock.

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About Cross Country Healthcare

Cross Country Healthcare, Inc provides healthcare staffing, recruiting, and workforce solutions in the United States. The company operates in three segments: Nurse and Allied Staffing, Physician Staffing, and Other Human Capital Management Services. The Nurse and Allied Staffing segment offers traditional staffing, including temporary and permanent placement of travel nurses and allied professionals, branch-based local nurses, and allied staffing; short-term staffing of registered nurses, licensed practical nurses, certified nurse assistants, practitioners, pharmacists, and other allied professionals on per diem and short-term assignments; and travel allied professionals on long-term contract assignments.

Analyst Recommendations for Cross Country Healthcare (NASDAQ:CCRN)

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