Concentra Group Holdings Parent (NYSE:CON) Sets New 12-Month High – Still a Buy?

Concentra Group Holdings Parent, Inc. (NYSE:CON) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $28.47 and last traded at $28.08, with a volume of 893176 shares trading hands. The stock had previously closed at $28.13.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CON. Weiss Ratings raised shares of Concentra Group Holdings Parent from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Wells Fargo & Company boosted their price objective on shares of Concentra Group Holdings Parent from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday, March 5th. 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. Finally, Truist Financial reaffirmed a “buy” rating and set a $31.00 price objective (up from $29.00) on shares of Concentra Group Holdings Parent in a research report on Monday, May 11th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Concentra Group Holdings Parent presently has an average rating of “Moderate Buy” and a consensus target price of $30.20.

Concentra Group Holdings Parent Price Performance

The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 3.62. The company has a market capitalization of $3.63 billion, a P/E ratio of 20.43, a P/E/G ratio of 1.29 and a beta of 0.82. The company’s 50-day simple moving average is $24.49 and its 200 day simple moving average is $22.58.

Concentra Group Holdings Parent (NYSE:CON) last posted its earnings results on Thursday, May 7th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.35 by $0.05. The company had revenue of $569.56 million during the quarter, compared to the consensus estimate of $553.53 million. Concentra Group Holdings Parent had a net margin of 7.97% and a return on equity of 47.14%. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.32 earnings per share. As a group, sell-side analysts expect that Concentra Group Holdings Parent, Inc. will post 1.53 earnings per share for the current fiscal year.

Concentra Group Holdings Parent Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 19th were given a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, May 19th. Concentra Group Holdings Parent’s payout ratio is currently 17.99%.

Insider Buying and Selling

In other Concentra Group Holdings Parent news, Director Robert A. Ortenzio sold 130,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $25.00, for a total value of $3,250,000.00. Following the completion of the sale, the director directly owned 763,455 shares of the company’s stock, valued at $19,086,375. The trade was a 14.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 8.10% of the stock is owned by corporate insiders.

Institutional Trading of Concentra Group Holdings Parent

Large investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC grew its position in Concentra Group Holdings Parent by 124.6% in the second 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 grew its position in Concentra Group Holdings Parent by 2,784.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 1,442 shares of the company’s stock worth $30,000 after acquiring an additional 1,392 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of Concentra Group Holdings Parent by 49.1% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,604 shares of the company’s stock worth $34,000 after buying an additional 528 shares during the period. Kestra Advisory Services LLC bought a new stake in shares of Concentra Group Holdings Parent during the 4th quarter worth $35,000. Finally, Osaic Holdings Inc. boosted its holdings in shares of Concentra Group Holdings Parent by 59.5% during the 2nd quarter. Osaic Holdings Inc. now owns 2,041 shares of the company’s stock worth $42,000 after buying an additional 761 shares during the period.

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.