Barrington Thinks Cross Country Healthcare’s Stock is Going to Recover


In a report released today, Kevin Steinke from Barrington maintained a Buy rating on Cross Country Healthcare (CCRN), with a price target of $11. The company’s shares closed yesterday at $8.34, close to its 52-week low of $7.41.

Steinke noted:

“We are encouraged by the strong order growth, which management expects will help return the company to organic revenue growth in 2019. However, investments in revenue-producing headcount and less premium rate business are anticipated to partially offset the company’s cost reduction initiatives. As a result, we are reducing our 2019 adjusted EBITDA estimate to $42.6 million (from $50.4 million) and lowering our 2019 adjusted EPS estimate to $0.31 (from $0.47).”

According to TipRanks.com, Steinke is a 1-star analyst with an average return of -1.9% and a 44.2% success rate. Steinke covers the Services sector, focusing on stocks such as Echo Global Logistics, Heidrick & Struggles, and Navigant Consulting.

Cross Country Healthcare has an analyst consensus of Moderate Buy, with a price target consensus of $11, a 31.9% upside from current levels. In a report issued on November 2, Lake Street also upgraded the stock to Buy with a $12 price target.

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Cross Country Healthcare’s market cap is currently $296.7M and has a P/E ratio of 9.84. The company has a Price to Book ratio of 1.25.

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Cross Country Healthcare, Inc. engages in the provision of healthcare staffing and workforce management solutions. It operates through the following segments: Nurse and Allied Staffing, Physician Staffing, and Other Human Capital Management Services.

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