Healthcare Services Group (NASDAQ:HCSG) Stock Rating Reaffirmed by Benchmark

Benchmark restated their buy rating on shares of Healthcare Services Group (NASDAQ:HCSG) in a report issued on Thursday morning, Benzinga reports. The firm currently has a $17.00 price objective on the business services provider’s stock.

Several other brokerages have also recently issued reports on HCSG. Royal Bank of Canada lowered their price target on Healthcare Services Group from $15.00 to $14.00 and set an outperform rating on the stock in a research report on Thursday. Robert W. Baird lifted their price target on Healthcare Services Group from $13.00 to $14.00 and gave the company a neutral rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $14.50.

Healthcare Services Group Price Performance

HCSG opened at $11.35 on Thursday. Healthcare Services Group has a 12 month low of $8.75 and a 12 month high of $13.01. The stock has a market cap of $835.93 million, a P/E ratio of 19.91 and a beta of 0.53. The stock’s 50 day moving average price is $10.80 and its 200 day moving average price is $11.14.

Healthcare Services Group (NASDAQ:HCSG) last posted its earnings results on Wednesday, July 24th. The business services provider reported $0.20 EPS for the quarter, meeting the consensus estimate of $0.20. Healthcare Services Group had a return on equity of 12.58% and a net margin of 1.82%. The firm had revenue of $426.30 million for the quarter, compared to analysts’ expectations of $424.94 million. During the same period last year, the firm earned $0.12 EPS. The firm’s revenue was up 1.8% compared to the same quarter last year. Equities analysts anticipate that Healthcare Services Group will post 0.56 EPS for the current year.

Institutional Investors Weigh In On Healthcare Services Group

Several large investors have recently modified their holdings of HCSG. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Healthcare Services Group by 2,692.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 979,748 shares of the business services provider’s stock worth $13,178,000 after acquiring an additional 944,658 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Healthcare Services Group by 2,698.7% in the first quarter. Janus Henderson Group PLC now owns 919,069 shares of the business services provider’s stock worth $11,470,000 after buying an additional 886,230 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Healthcare Services Group by 91.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,561,283 shares of the business services provider’s stock worth $16,191,000 after buying an additional 744,527 shares during the period. Azarias Capital Management L.P. boosted its position in shares of Healthcare Services Group by 50.7% in the second quarter. Azarias Capital Management L.P. now owns 1,226,773 shares of the business services provider’s stock worth $12,979,000 after buying an additional 412,704 shares during the period. Finally, Invenomic Capital Management LP acquired a new stake in shares of Healthcare Services Group in the fourth quarter worth $4,216,000. 97.97% of the stock is owned by institutional investors.

Healthcare Services Group Company Profile

Healthcare Services Group, Inc provides management, administrative, and operating services to the housekeeping, laundry, linen, facility maintenance, and dietary service departments of nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.