Jefferies Financial Group Upgrades Concentra Group Holdings Parent (NYSE:CON) to Strong-Buy

Concentra Group Holdings Parent (NYSE:CON) was upgraded by investment analysts at Jefferies Financial Group to a “strong-buy” rating in a research report issued on Friday, Zacks reports.

Several other equities research analysts also recently issued reports on the stock. Zacks Research upgraded shares of Concentra Group Holdings Parent from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 31st. Weiss Ratings upgraded Concentra Group Holdings Parent from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. JPMorgan Chase & Co. upped their target price on Concentra Group Holdings Parent from $34.00 to $43.00 and gave the company an “overweight” rating in a research report on Thursday, September 10th. Truist Financial increased their target price on Concentra Group Holdings Parent from $37.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Finally, Wells Fargo & Company lifted their price target on Concentra Group Holdings Parent from $28.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating and seven have given a Buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $40.67.

Concentra Group Holdings Parent Stock Performance

Shares of NYSE CON traded down $0.58 during mid-day trading on Friday, reaching $38.57. 1,303,041 shares of the company were exchanged, compared to its average volume of 1,230,610. The stock has a market capitalization of $4.92 billion, a P/E ratio of 24.88, a P/E/G ratio of 1.42 and a beta of 0.63. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 3.22. The company’s 50-day simple moving average is $35.31 and its 200-day simple moving average is $29.81. Concentra Group Holdings Parent has a twelve month low of $18.55 and a twelve month high of $39.60.

Concentra Group Holdings Parent (NYSE:CON) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.10. Concentra Group Holdings Parent had a net margin of 8.69% and a return on equity of 47.81%. The business had revenue of $606.03 million for the quarter, compared to analyst estimates of $591.75 million. During the same quarter in the prior year, the business earned $0.37 EPS. Concentra Group Holdings Parent’s quarterly revenue was up 10.0% on a year-over-year basis. As a group, research analysts predict that Concentra Group Holdings Parent will post 1.65 earnings per share for the current year.

Insider Transactions at Concentra Group Holdings Parent

In related news, Director Robert Ortenzio sold 130,000 shares of Concentra Group Holdings Parent stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $31.84, for a total value of $4,139,200.00. Following the transaction, the director directly owned 503,455 shares of the company’s stock, valued at $16,030,007.20. This trade represents a 20.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 8.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CON. Jennison Associates LLC lifted its stake in shares of Concentra Group Holdings Parent by 195.8% in the 1st quarter. Jennison Associates LLC now owns 2,172,291 shares of the company’s stock valued at $46,596,000 after acquiring an additional 1,437,912 shares during the last quarter. Ancora Advisors LLC bought a new position in shares of Concentra Group Holdings Parent during the second quarter valued at $13,285,000. Janus Henderson Group PLC lifted its holdings in Concentra Group Holdings Parent by 722.9% during the 1st quarter. Janus Henderson Group PLC now owns 419,772 shares of the company’s stock worth $9,003,000 after buying an additional 368,761 shares during the period. HBK Investments L P boosted its holdings in Concentra Group Holdings Parent by 21.1% in the second quarter. HBK Investments L P now owns 1,044,614 shares of the company’s stock valued at $31,077,000 after acquiring an additional 181,864 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Concentra Group Holdings Parent by 4.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,107,254 shares of the company’s stock valued at $66,645,000 after purchasing an additional 144,379 shares during the last quarter.

Concentra Group Holdings Parent Company Profile

Concentra Group Holdings Parent, Inc is the parent company of Concentra, a provider of occupational health services in the United States. The company helps employers manage workplace health needs, including injury care, workers’ compensation services, physical examinations, drug and alcohol testing, immunizations, and other employee health programs.

Concentra also operates urgent care centers that provide treatment for non-life-threatening illnesses and injuries. Its services may include occupational medicine, urgent care, physical therapy, physical rehabilitation, and related employer-focused health services.