Zacks Investment Research Downgrades Cross Country Healthcare (NASDAQ:CCRN) to Sell

Zacks Investment Research downgraded shares of Cross Country Healthcare (NASDAQ:CCRN) from a hold rating to a sell rating in a research note released on Wednesday, January 3rd.

According to Zacks, “Cross Country, Inc. is a provider of healthcare staffing services. They also provide staffing of clinical research professionals and allied healthcare professionals, such as radiology technicians, rehabilitation therapists and respiratory therapists. Their staffing operations are complemented by other human capital management services, including search and recruitment, consulting, education and training and resource management services. “

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

Cross Country Healthcare (NASDAQ:CCRN) opened at $12.92 on Wednesday. Cross Country Healthcare has a 12 month low of $11.07 and a 12 month high of $16.38. The stock has a market capitalization of $463.67, a PE ratio of 19.86, a PEG ratio of 1.65 and a beta of 0.75. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.46.

Cross Country Healthcare (NASDAQ:CCRN) last announced its quarterly earnings results on Wednesday, November 1st. The business services provider reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.05. The company had revenue of $228.50 million during the quarter, compared to analysts’ expectations of $228.97 million. Cross Country Healthcare had a return on equity of 11.69% and a net margin of 0.19%. Cross Country Healthcare’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the business earned $0.24 earnings per share. research analysts anticipate that Cross Country Healthcare will post 0.64 EPS for the current year.

In other Cross Country Healthcare news, Director Thomas C. Dircks acquired 10,000 shares of the stock in a transaction dated Monday, November 6th. The stock was acquired at an average cost of $11.77 per share, with a total value 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Susan E. Ball sold 25,000 shares of the company’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $14.19, for a total value of $354,750.00. Following the completion of the sale, the general counsel now directly owns 126,921 shares of the company’s stock, valued at $1,801,008.99. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in CCRN. Schwab Charles Investment Management Inc. raised its stake in Cross Country Healthcare by 20.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 75,215 shares of the business services provider’s stock valued at $972,000 after acquiring an additional 12,900 shares during the last quarter. Rhumbline Advisers raised its stake in Cross Country Healthcare by 6.6% during the 2nd quarter. Rhumbline Advisers now owns 67,363 shares of the business services provider’s stock valued at $870,000 after acquiring an additional 4,191 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Cross Country Healthcare by 3.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 545,805 shares of the business services provider’s stock valued at $7,047,000 after acquiring an additional 18,133 shares during the last quarter. Legal & General Group Plc raised its stake in Cross Country Healthcare by 5.8% during the 2nd quarter. Legal & General Group Plc now owns 57,594 shares of the business services provider’s stock valued at $743,000 after acquiring an additional 3,174 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake 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 valued at $129,000 after acquiring an additional 3,660 shares during the last quarter. 92.08% of the stock is owned by hedge funds and other 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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