Benchmark Has Lowered Expectations for Cross Country Healthcare (NASDAQ:CCRN) Stock Price

Cross Country Healthcare (NASDAQ:CCRN) had its target price lowered by Benchmark from $19.00 to $18.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the business services provider’s stock. Benchmark’s target price suggests a potential upside of 52.93% from the company’s previous close.

A number of other research firms have also commented on CCRN. Barrington Research cut their price target on Cross Country Healthcare from $21.00 to $19.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Truist Financial cut their target price on Cross Country Healthcare from $17.00 to $15.00 and set a “hold” rating for the company in a research note on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Cross Country Healthcare has an average rating of “Hold” and an average price target of $18.50.

Cross Country Healthcare Stock Performance

Shares of Cross Country Healthcare stock traded down $0.38 on Thursday, hitting $11.77. The company had a trading volume of 93,547 shares, compared to its average volume of 525,444. The stock has a market capitalization of $397.94 million, a price-to-earnings ratio of 51.78, a P/E/G ratio of 2.20 and a beta of 0.65. Cross Country Healthcare has a 1 year low of $11.02 and a 1 year high of $23.64. The stock has a 50 day moving average of $13.09 and a 200-day moving average of $14.41.

Cross Country Healthcare (NASDAQ:CCRN) last posted its quarterly earnings results on Wednesday, November 6th. The business services provider reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.02. The company had revenue of $315.12 million during the quarter, compared to the consensus estimate of $310.05 million. Cross Country Healthcare had a return on equity of 7.29% and a net margin of 0.54%. Equities analysts anticipate that Cross Country Healthcare will post 0.52 earnings per share for the current year.

Institutional Trading of Cross Country Healthcare

Several large investors have recently bought and sold shares of CCRN. SummerHaven Investment Management LLC boosted its stake in Cross Country Healthcare by 3.8% during the second quarter. SummerHaven Investment Management LLC now owns 28,376 shares of the business services provider’s stock worth $393,000 after acquiring an additional 1,032 shares in the last quarter. Raymond James & Associates grew its stake in shares of Cross Country Healthcare by 0.7% in the 2nd quarter. Raymond James & Associates now owns 165,324 shares of the business services provider’s stock worth $2,288,000 after buying an additional 1,155 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Cross Country Healthcare by 9.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,639 shares of the business services provider’s stock valued at $312,000 after buying an additional 1,450 shares in the last quarter. Gladius Capital Management LP raised its stake in Cross Country Healthcare by 83.4% during the third quarter. Gladius Capital Management LP now owns 3,985 shares of the business services provider’s stock valued at $54,000 after buying an additional 1,812 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Cross Country Healthcare by 32.8% in the third quarter. GAMMA Investing LLC now owns 7,543 shares of the business services provider’s stock worth $101,000 after acquiring an additional 1,865 shares in the last quarter. 96.03% of the stock is owned by institutional investors.

Cross Country Healthcare Company Profile

Cross Country Healthcare, Inc provides talent management and other consultative services for healthcare clients in the United States. The company’s Nurse and Allied Staffing segment provides traditional staffing, recruiting, and value-added total talent solutions, including temporary and permanent placement of travel and local nurse and, allied professionals; temporary placement of healthcare leaders within nursing, allied, physician, and human resources; vendor neutral and managed services programs; education healthcare services; in-home care services; and outsourcing services.