As of Friday close, Cross Country Healthcare Inc.’s (NASDAQ:CCRN) stock was up $0.85, moving up 3.53 percent to $24.95. The average number of shares traded per day over the past five days has been 592,620 shares. 4 times new highs have been achieved over the past 5 days, with a $1.94 gain in that time frame. In the last twenty days, the average volume was 754,000, while in the previous 50 days, it was 568,106.
Since last month, CCRN stock retreated -10.25%. Shares of the company fell to $21.34 on 08/07/23, the lowest level in the past month. A 52-week high of $40.12 was reached on 02/06/23 after having rallying from a 52-week low of $20.50. Since the beginning of this year, CCRN’s stock price has dropped by -6.10% or -$1.62, and marked a new high 9 times. However, the stock has declined by -37.81% since its 52-week high.
CCRN stock investors should be aware that Cross Country Healthcare Inc. (CCRN) stock had its last reported insider trading activity 264 days ago on Nov 28. Grieco Cynthia Ann, the VP, Corporate Treasurer of the company, disposed of 1,071 shares for $36.00 on Nov 28. It resulted in a $38,556 divestment by the insider. Burns William J. sold 40,293 shares at an average price of $30.91 on Oct 03. The insider now owns 206,111 shares following the transaction. On Oct 03, General Counsel and Secretary Ball Susan E sold 14,901 shares at $30.00 apiece. The transaction was valued at $447,030.
Valuation Metrics
Right now, Cross Country Healthcare Inc. (CCRN) has a P/E ratio of about 7.37. The stock’s beta is 1.01. Besides these, the trailing price-to-sales (P/S) ratio of 0.37, the price-to-book (PB) ratio of 1.87, and the price-to-cash flow ratio of 3.01 may also be considered.
Financial Health
In the three months ended June 29, Cross Country Healthcare Inc.’s quick ratio stood at 2.30, while its current ratio was 2.30, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.07, and the total debt-to-equity ratio was 0.07. On the profitability front, the trailing twelve-month gross margin is 22.50% percent. In the year ended June 29, EBITDA margin amounted to 10.54%, whereas operating margins totaled 7.40%. Based on annual data, CCRN earned $627.69 million in gross profit and brought in $2.81 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 33.30%. Return on equity (ROE) for the past 12 months was 27.60%.
According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. CCRN’s revenue fell -39.37% to $622.71 million during the quarter, while net income inched up to $540.7 million. While analysts expected Cross Country Healthcare Inc. to report $0.61 quarterly earnings, the actual figure was $0.69 per share, beating the consensus estimate by 13.10%. During the quarter, the company generated $39.62 million in EBITDA. The liabilities of Cross Country Healthcare Inc. were 300.78 million at the end of its most recent quarter ended June 29, and its total debt was $37.44 million. The value of shareholders’ equity is $35.8 million.
Technical Picture
This quick technical analysis looks at Cross Country Healthcare Inc.’s (CCRN) price momentum. With a historical volatility rate of 36.96%, the RSI 9-day stood at 56.36% on 18 August.
With respect to its five-day moving average, the current Cross Country Healthcare Inc. price is up by +8.43% percent or $1.94. At present, CCRN shares trade -9.11% below its 20-day simple moving average and +4.31% percent above its 100-day simple moving average. However, the stock is currently trading approximately -8.91% below its SMA50 and -32.73% below its SMA200.
Stochastic coefficient K was 55.22% and Stochastic coefficient D was 51.22%, while ATR was 1.08. Given the Stochastic reading of 68.89% for the 14-day period, the RSI (14) reading has been calculated as 51.14%. As of today, the MACD Oscillator reading stands at 0.60, while the 14-day reading stands at 0.62.
Analyst Ratings
William Blair launched its rating on Cross Country Healthcare Inc. (NASDAQ: CCRN) to an Outperform in a note to investors on June 26, 2023. Cross Country Healthcare Inc. (CCRN) has been rated Overweight by analysts. According to 0 brokerage firms, CCRN is a sell, and 3 firms recommend it is a Hold. There are 1 analyst who say the stock is underweight. A total of 0 analysts rate Cross Country Healthcare Inc. stock as buy, with 4 recommending it as overweight.
With a median target price of $27.50, the current consensus forecast for the stock is $22.00 – $40.00. Based on these forecasts, analysts predict Cross Country Healthcare Inc. (CCRN) will achieve an average price target of $28.83.
