Cross Country Healthcare (CCRN) Upgraded to “Buy” at Lake Street Capital

Cross Country Healthcare (NASDAQ:CCRN) was upgraded by investment analysts at Lake Street Capital from a “hold” rating to a “buy” rating in a report issued on Friday, The Fly reports.

Several other analysts have also commented on the company. ValuEngine lowered Cross Country Healthcare from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 22nd. Zacks Investment Research lowered Cross Country Healthcare from a “hold” rating to a “sell” rating in a research note on Monday, September 3rd. BidaskClub lowered Cross Country Healthcare from a “buy” rating to a “hold” rating in a research note on Thursday, September 13th. Barrington Research set a $13.00 price target on Cross Country Healthcare and gave the company a “buy” rating in a research note on Wednesday, September 19th. Finally, Stephens assumed coverage on Cross Country Healthcare in a research note on Tuesday, October 2nd. They issued an “equal weight” rating on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $12.86.

Shares of CCRN stock opened at $9.47 on Friday. The company has a current ratio of 2.33, a quick ratio of 2.33 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $325.20 million, a P/E ratio of 15.52, a P/E/G ratio of 3.04 and a beta of 0.79. Cross Country Healthcare has a one year low of $7.41 and a one year high of $14.49.

Cross Country Healthcare (NASDAQ:CCRN) last announced its quarterly earnings results on Thursday, November 1st. The business services provider reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.01). The company had revenue of $200.72 million during the quarter, compared to analyst estimates of $200.66 million. Cross Country Healthcare had a net margin of 4.39% and a return on equity of 7.90%. Cross Country Healthcare’s quarterly revenue was down 12.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.23 EPS. Research analysts expect that Cross Country Healthcare will post 0.24 earnings per share for the current fiscal year.

In other Cross Country Healthcare news, General Counsel Susan E. Ball acquired 5,091 shares of Cross Country Healthcare stock in a transaction on Thursday, August 9th. The shares were bought at an average price of $9.65 per share, with a total value of $49,128.15. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider William J. Grubbs acquired 10,000 shares of Cross Country Healthcare stock in a transaction on Wednesday, August 8th. The stock was acquired at an average cost of $8.93 per share, for a total transaction of $89,300.00. Following the purchase, the insider now owns 422,291 shares of the company’s stock, valued at approximately $3,771,058.63. The disclosure for this purchase can be found here. In the last three months, insiders acquired 37,341 shares of company stock worth $344,203. Insiders own 3.40% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Mackay Shields LLC acquired a new position in Cross Country Healthcare in the second quarter worth $451,000. Citadel Advisors LLC lifted its stake in shares of Cross Country Healthcare by 193.0% during the second quarter. Citadel Advisors LLC now owns 264,940 shares of the business services provider’s stock valued at $2,981,000 after acquiring an additional 174,530 shares during the period. Systematic Financial Management LP lifted its stake in shares of Cross Country Healthcare by 53.2% during the second quarter. Systematic Financial Management LP now owns 634,924 shares of the business services provider’s stock valued at $7,143,000 after acquiring an additional 220,357 shares during the period. Royce & Associates LP lifted its stake in shares of Cross Country Healthcare by 2.8% during the second quarter. Royce & Associates LP now owns 1,060,481 shares of the business services provider’s stock valued at $11,930,000 after acquiring an additional 28,500 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Cross Country Healthcare by 9.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,743,635 shares of the business services provider’s stock valued at $19,372,000 after acquiring an additional 151,751 shares during the period. 89.94% of the stock is currently owned by institutional investors.

Cross Country Healthcare Company Profile

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.

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