Cantor Fitzgerald analyst Joseph France reiterated a Hold rating on Cross Country Healthcare (NASDAQ: CCRN) today and set a price target of $10. The company’s shares opened today at $8.41, close to its 52-week low of $7.41.
France wrote:
“CCRN is the smallest, but possibly the most operationally-leveraged, public investment vehicle for capitalizing on the growing outsourcing of nurse staffing by large healthcare systems. Increased spending to support new contracts has weighed on results in recent periods, and we believe there could be continued weakness in nurse staffing volumes due to RN shortages and hospitals cutting contingent labor spending. We reiterate our Neutral rating on CCRN. $10 price target is based on a blend of our DCF and comparable-company analysis.”
According to TipRanks.com, France is a 5-star analyst with an average return of 10.4% and a 58.9% success rate. France covers the Services sector, focusing on stocks such as Five Star Quality Care, Addus Homecare Corp, and US Physical Therapy.
Cross Country Healthcare has an analyst consensus of Moderate Buy, with a price target consensus of $11.33.
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The company has a one-year high of $14.65 and a one-year low of $7.41. Currently, Cross Country Healthcare has an average volume of 269.7K.
Based on the recent corporate insider activity of 50 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CCRN in relation to earlier this year.
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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.
