Cross Country Healthcare (CCRN) Receives a Rating Update from a Top Analyst

By Ryan Adsit

Oppenheimer analyst Michael Wiederhorn maintained a Hold rating on Cross Country Healthcare (CCRNResearch Report) today. The company’s shares closed last Friday at $5.19, close to its 52-week low of $4.50.

According to TipRanks.com, Wiederhorn is a top 100 analyst with an average return of 14.7% and a 65.4% success rate. Wiederhorn covers the Healthcare sector, focusing on stocks such as Community Health, The Ensign Group, and Addus Homecare.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Cross Country Healthcare with a $8.67 average price target, representing an 81.8% upside. In a report issued on May 8, SunTrust Robinson also maintained a Hold rating on the stock with a $7.00 price target.

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Based on Cross Country Healthcare’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $210 million and GAAP net loss of $2.09 million. In comparison, last year the company earned revenue of $195 million and had a GAAP net loss of $1.77 million.

Based on the recent corporate insider activity of 22 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. The Nurse and Allied Staffing segment provides workforce solutions and traditional staffing, including temporary and permanent placement of travel nurses and allied professionals, branch-based local nurses, and allied staffing. The Physician Staffing segment consists of certified registered nurse anesthetists, nurse practitioners, and physician assistants. The Other Human Capital Management Services segment includes retained and contingent search services for physicians, healthcare executives, and other healthcare professionals. The company was founded in 1975 and is headquartered in Boca Raton, FL.