Cross Country Healthcare (CCRN) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Cross Country Healthcare (NASDAQ:CCRN) from a sell rating to a hold rating in a report released on Tuesday morning.

According to Zacks, “Cross Country Healthcare, Inc. is a national leader in providing innovative healthcare workforce solutions and staffing services. Their diverse client base includes both clinical and nonclinical settings, servicing acute care hospitals, physician practice groups, outpatient and ambulatory-care centers, nursing facilities, both public schools and charter schools, rehabilitation and sports medicine clinics, government facilities, and homecare. They are able to place clinicians on travel and per diem assignments, local short-term contracts and permanent positions. They are a market leader in providing flexible workforce management solutions, which include managed services programs (MSP), internal resource pool consulting and development, electronic medical record (EMR) transition staffing, recruitment process outsourcing, predictive modeling and other outsourcing and consultative services. “

Other research analysts also recently issued research reports about the stock. TheStreet raised shares of Cross Country Healthcare from a c+ rating to a b rating in a research report on Wednesday, September 27th. Cantor Fitzgerald reaffirmed a buy rating and issued a $18.00 price objective on shares of Cross Country Healthcare in a research report on Wednesday, November 1st. BidaskClub raised shares of Cross Country Healthcare from a sell rating to a hold rating in a research report on Saturday, December 30th. Credit Suisse Group initiated coverage on shares of Cross Country Healthcare in a research report on Tuesday, November 7th. They issued a neutral rating and a $13.00 price objective on the stock. Finally, BMO Capital Markets cut their price objective on shares of Cross Country Healthcare from $15.00 to $14.00 and set an outperform rating on the stock in a research report on Monday, November 6th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $15.31.

Shares of Cross Country Healthcare (NASDAQ:CCRN) traded up $0.21 during trading on Tuesday, hitting $12.92. 110,393 shares of the stock were exchanged, compared to its average volume of 212,967. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.14 and a current ratio of 2.14. Cross Country Healthcare has a 52-week low of $11.07 and a 52-week high of $16.38. The stock has a market cap of $463.84, a P/E ratio of 646.00, a P/E/G ratio of 1.63 and a beta of 0.75.

Cross Country Healthcare (NASDAQ:CCRN) last issued its quarterly earnings data on Wednesday, November 1st. The business services provider reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.05. Cross Country Healthcare had a net margin of 0.19% and a return on equity of 11.69%. The firm had revenue of $228.50 million for the quarter, compared to the consensus estimate of $228.97 million. During the same quarter in the previous year, the firm earned $0.24 EPS. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. equities research analysts expect that Cross Country Healthcare will post 0.64 earnings per share for the current fiscal year.

In other Cross Country Healthcare news, General Counsel Susan E. Ball sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $14.19, for a total transaction of $354,750.00. Following the sale, the general counsel now owns 126,921 shares of the company’s stock, valued at approximately $1,801,008.99. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Thomas C. Dircks bought 10,000 shares of the company’s stock in a transaction on Monday, November 6th. The shares were bought at an average cost of $11.77 per share, for a total transaction of $117,700.00. Following the transaction, the director now owns 104,571 shares in the company, valued at approximately $1,230,800.67. The disclosure for this purchase can be found here. 3.90% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA grew its position in Cross Country Healthcare by 57.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,998 shares of the business services provider’s stock worth $129,000 after purchasing an additional 3,660 shares during the last quarter. FDx Advisors Inc. purchased a new stake in Cross Country Healthcare during the 3rd quarter worth approximately $146,000. Strs Ohio grew its position in Cross Country Healthcare by 69.5% during the 3rd quarter. Strs Ohio now owns 16,100 shares of the business services provider’s stock worth $229,000 after purchasing an additional 6,600 shares during the last quarter. Voya Investment Management LLC grew its position in Cross Country Healthcare by 16.9% during the 2nd quarter. Voya Investment Management LLC now owns 18,329 shares of the business services provider’s stock worth $237,000 after purchasing an additional 2,646 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Cross Country Healthcare during the 2nd quarter worth approximately $246,000. 92.08% of the stock is currently owned by institutional investors.

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About Cross Country Healthcare

Cross Country Healthcare, Inc is engaged in providing healthcare recruiting, staffing, recruiting and workforce solutions. The Company operates in three segments: Nurse and Allied Staffing, Physician Staffing and Other Human Capital Management Services. The Nurse and Allied Staffing segment provides traditional staffing, including temporary and permanent placement of travel nurses and allied professionals, and branch-based local nurses and allied staffing.

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