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

Shares of Concentra Group Holdings Parent, Inc. (NYSE:CON) have been assigned a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $30.20.

CON has been the topic of a number of research reports. Truist Financial reaffirmed a “buy” rating and set a $31.00 target price (up from $29.00) on shares of Concentra Group Holdings Parent in a research note on Monday, May 11th. Wells Fargo & Company boosted their target price on shares of Concentra Group Holdings Parent from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday, March 5th. Weiss Ratings raised shares of 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 initiated coverage on shares of Concentra Group Holdings Parent in a research note on Friday, June 5th. They set a “buy” rating and a $30.00 target price on the stock.

Concentra Group Holdings Parent Stock Up 0.0%

CON stock opened at $28.14 on Monday. The firm has a 50-day moving average price of $24.04 and a 200-day moving average price of $22.42. Concentra Group Holdings Parent has a 12 month low of $18.55 and a 12 month high of $28.21. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 3.62. The stock has a market capitalization of $3.60 billion, a P/E ratio of 20.24, a price-to-earnings-growth ratio of 1.28 and a beta of 0.82.

Concentra Group Holdings Parent (NYSE:CON) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The business had revenue of $569.56 million during the quarter, compared to analysts’ expectations of $553.53 million. Concentra Group Holdings Parent had a net margin of 7.97% and a return on equity of 47.14%. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.32 EPS. As a group, equities research analysts anticipate that Concentra Group Holdings Parent will post 1.53 EPS for the current fiscal year.

Concentra Group Holdings Parent Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 19th were paid a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, May 19th. Concentra Group Holdings Parent’s payout ratio is presently 17.99%.

Insider Buying and Selling at Concentra Group Holdings Parent

In other Concentra Group Holdings Parent news, Director Robert A. Ortenzio sold 130,000 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $25.00, for a total transaction of $3,250,000.00. Following the sale, the director owned 763,455 shares of the company’s stock, valued at approximately $19,086,375. The trade was a 14.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 8.10% of the company’s stock.

Hedge Funds Weigh In On Concentra Group Holdings Parent

Hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC grew its stake in shares of 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 last quarter. Caitong International Asset Management Co. Ltd raised its position in Concentra Group Holdings Parent by 2,784.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,442 shares of the company’s stock worth $30,000 after purchasing an additional 1,392 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Concentra Group Holdings Parent by 49.1% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,604 shares of the company’s stock worth $34,000 after purchasing an additional 528 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in Concentra Group Holdings Parent during the 4th quarter worth about $35,000. Finally, Osaic Holdings Inc. lifted its holdings in Concentra Group Holdings Parent by 59.5% during the 2nd quarter. Osaic Holdings Inc. now owns 2,041 shares of the company’s stock worth $42,000 after buying an additional 761 shares during the period.

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.