Cross Country Healthcare (NASDAQ:CCRN) Cut to Hold at Zacks Investment Research

Cross Country Healthcare (NASDAQ:CCRN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Monday, Zacks.com reports.

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 equities research analysts also recently issued research reports about the company. ValuEngine raised Cross Country Healthcare from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Barrington Research set a $10.00 price objective on Cross Country Healthcare and gave the company a “buy” rating in a report on Monday, May 20th. Finally, BidaskClub raised Cross Country Healthcare from a “buy” rating to a “strong-buy” rating in a report on Saturday. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $10.00.

NASDAQ:CCRN traded down $0.13 during trading hours on Monday, reaching $9.78. 276,081 shares of the stock were exchanged, compared to its average volume of 198,699. Cross Country Healthcare has a twelve month low of $6.75 and a twelve month high of $10.27. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.56. The company’s 50 day simple moving average is $9.28. The stock has a market capitalization of $368.90 million, a PE ratio of 81.50, a PEG ratio of 13.19 and a beta of 1.28.

Cross Country Healthcare (NASDAQ:CCRN) last released its quarterly earnings data on Wednesday, July 31st. The business services provider reported $0.01 EPS for the quarter. The company had revenue of $202.80 million during the quarter, compared to the consensus estimate of $199.46 million. Cross Country Healthcare had a positive return on equity of 0.62% and a negative net margin of 9.20%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.05 EPS. Analysts forecast that Cross Country Healthcare will post 0.07 EPS for the current year.

In other Cross Country Healthcare news, CEO Kevin Cronin Clark acquired 8,330 shares of Cross Country Healthcare stock in a transaction that occurred on Friday, June 14th. The shares were acquired at an average cost of $8.00 per share, with a total value of $66,640.00. Following the completion of the purchase, the chief executive officer now directly owns 250,734 shares of the company’s stock, valued at approximately $2,005,872. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.80% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in CCRN. Dimensional Fund Advisors LP boosted its stake in shares of Cross Country Healthcare by 6.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,387,342 shares of the business services provider’s stock valued at $17,499,000 after purchasing an additional 155,059 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Cross Country Healthcare by 38.5% during the first quarter. JPMorgan Chase & Co. now owns 1,815,353 shares of the business services provider’s stock valued at $12,762,000 after purchasing an additional 504,192 shares in the last quarter. Systematic Financial Management LP boosted its stake in shares of Cross Country Healthcare by 45.6% during the first quarter. Systematic Financial Management LP now owns 1,717,400 shares of the business services provider’s stock valued at $12,073,000 after purchasing an additional 538,160 shares in the last quarter. Royce & Associates LP boosted its stake in shares of Cross Country Healthcare by 8.6% during the first quarter. Royce & Associates LP now owns 1,216,811 shares of the business services provider’s stock valued at $8,554,000 after purchasing an additional 96,500 shares in the last quarter. Finally, Investment Counselors of Maryland LLC boosted its stake in shares of Cross Country Healthcare by 1.1% during the second quarter. Investment Counselors of Maryland LLC now owns 973,239 shares of the business services provider’s stock valued at $9,129,000 after purchasing an additional 10,207 shares in the last quarter. 92.51% of the stock is currently owned by institutional investors and hedge funds.

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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