Concentra Group Holdings Parent, Inc. (NYSE:CON) Receives Average Rating of “Moderate Buy” from Brokerages

Concentra Group Holdings Parent, Inc. (NYSE:CON) has been assigned an average rating of “Moderate Buy” from the eight ratings firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $31.40.

A number of research firms have recently weighed in on CON. Truist Financial increased their price target on Concentra Group Holdings Parent from $31.00 to $37.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. William Blair initiated coverage on Concentra Group Holdings Parent in a report on Wednesday, July 1st. They issued an “outperform” rating for the company. Weiss Ratings raised Concentra Group Holdings Parent from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Finally, The Goldman Sachs Group assumed coverage on Concentra Group Holdings Parent in a report on Friday, June 5th. They set a “buy” rating and a $30.00 target price on the stock.

Concentra Group Holdings Parent Trading Up 0.3%

CON opened at $31.73 on Tuesday. The firm has a 50 day simple moving average of $29.31 and a 200 day simple moving average of $25.15. Concentra Group Holdings Parent has a fifty-two week low of $18.55 and a fifty-two week high of $32.86. The company has a market cap of $4.06 billion, a price-to-earnings ratio of 22.83, a price-to-earnings-growth ratio of 1.44 and a beta of 0.61. The company has a debt-to-equity ratio of 3.62, a current ratio of 1.26 and a quick ratio of 1.26.

Concentra Group Holdings Parent (NYSE:CON) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. Concentra Group Holdings Parent had a net margin of 7.97% and a return on equity of 47.14%. The firm had revenue of $569.55 million for the quarter, compared to analysts’ expectations of $553.53 million. During the same period last year, the firm earned $0.32 earnings per share. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. On average, sell-side analysts anticipate that Concentra Group Holdings Parent will post 1.52 earnings per share for the current year.

Insider Activity at Concentra Group Holdings Parent

In related news, Director Robert A. Ortenzio sold 130,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $30.50, for a total value of $3,965,000.00. Following the sale, the director directly owned 633,455 shares in the company, valued at $19,320,377.50. This trade represents a 17.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 390,000 shares of company stock valued at $10,465,000. Corporate insiders own 8.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CON. EverSource Wealth Advisors LLC raised its holdings 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 purchasing an additional 663 shares during the period. Caitong International Asset Management Co. Ltd grew its holdings in shares of Concentra Group Holdings Parent by 2,784.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,442 shares of the company’s stock valued at $30,000 after buying an additional 1,392 shares during the period. Public Employees Retirement System of Ohio increased its position in shares of Concentra Group Holdings Parent by 49.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,604 shares of the company’s stock valued at $34,000 after buying an additional 528 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Concentra Group Holdings Parent in the 4th quarter valued at $35,000. Finally, Osaic Holdings Inc. increased its position in shares of Concentra Group Holdings Parent by 59.5% in the 2nd quarter. Osaic Holdings Inc. now owns 2,041 shares of the company’s stock valued at $42,000 after buying an additional 761 shares in the last quarter.

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.