Concentra Group Holdings Parent (NYSE:CON) Coverage Initiated at William Blair

Equities research analysts at William Blair initiated coverage on shares of Concentra Group Holdings Parent (NYSE:CON) in a research report issued to clients and investors on Wednesday. The brokerage set an “outperform” rating on the stock.

Several other research firms also recently weighed in on CON. Truist Financial restated a “buy” rating and issued a $31.00 price target (up from $29.00) on shares of Concentra Group Holdings Parent in a research note on Monday, May 11th. The Goldman Sachs Group began coverage on shares of Concentra Group Holdings Parent in a research report on Friday, June 5th. They set a “buy” rating and a $30.00 price objective on the stock. Wells Fargo & Company boosted their target price on shares of Concentra Group Holdings Parent from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Thursday, March 5th. Finally, Weiss Ratings upgraded shares of Concentra Group Holdings Parent from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $30.20.

Concentra Group Holdings Parent Stock Performance

NYSE CON opened at $29.79 on Wednesday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 3.62. Concentra Group Holdings Parent has a twelve month low of $18.55 and a twelve month high of $30.37. The business has a 50-day moving average price of $25.73 and a 200-day moving average price of $23.17. The firm has a market cap of $3.81 billion, a price-to-earnings ratio of 21.43, a price-to-earnings-growth ratio of 1.35 and a beta of 0.82.

Concentra Group Holdings Parent (NYSE:CON) last issued its earnings results on Thursday, May 7th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.05. Concentra Group Holdings Parent had a return on equity of 47.14% and a net margin of 7.97%.The company had revenue of $569.55 million for the quarter, compared to the consensus estimate of $553.53 million. During the same quarter last year, the company earned $0.32 EPS. The firm’s quarterly revenue was up 13.7% on a year-over-year basis. As a group, equities research analysts predict that Concentra Group Holdings Parent will post 1.53 EPS for the current fiscal year.

Insider Activity at Concentra Group Holdings Parent

In related news, Director Robert A. Ortenzio sold 130,000 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $25.00, for a total transaction of $3,250,000.00. Following the completion of the transaction, the director directly owned 763,455 shares of the company’s stock, valued at approximately $19,086,375. This represents a 14.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 8.10% of the company’s stock.

Institutional Trading of Concentra Group Holdings Parent

A number of large investors have recently added to or reduced their stakes in CON. EverSource Wealth Advisors LLC raised its holdings in shares of Concentra Group Holdings Parent by 124.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,195 shares of the company’s stock worth $25,000 after acquiring an additional 663 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in shares of Concentra Group Holdings Parent by 2,784.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,442 shares of the company’s stock valued at $30,000 after acquiring an additional 1,392 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Concentra Group Holdings Parent by 49.1% in the third quarter. Public Employees Retirement System of Ohio now owns 1,604 shares of the company’s stock valued at $34,000 after purchasing an additional 528 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Concentra Group Holdings Parent in the fourth quarter valued at $35,000. Finally, Osaic Holdings Inc. grew its holdings in shares of Concentra Group Holdings Parent by 59.5% in the second quarter. Osaic Holdings Inc. now owns 2,041 shares of the company’s stock valued at $42,000 after purchasing an additional 761 shares in the last quarter.

Concentra Group Holdings Parent Company Profile

Concentra Group Holdings Parent (NYSE:CON) is a Canada-based financial services holding company that specializes in serving Canadian credit unions and their members. Through its operating subsidiaries, the group provides wholesale funding, lending solutions and investment management services tailored to the unique needs of cooperative financial institutions. Concentra’s broad suite of offerings includes trust and custody services, mortgage investment products and equipment financing, all designed to support credit-union growth and stability.

In addition to wholesale funding and lending, Concentra Group Holdings Parent distributes life and general insurance products through affiliated insurance brokers and credit-union channels.