Healthcare Services Group (NASDAQ:HCSG) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Healthcare Services Group (NASDAQ:HCSG) from a hold rating to a buy rating in a research report released on Friday morning.

A number of other analysts have also recently issued reports on HCSG. Robert W. Baird dropped their price objective on Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, October 24th. Benchmark reissued a “buy” rating and set a $17.00 price objective on shares of Healthcare Services Group in a report on Thursday, October 24th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Healthcare Services Group has an average rating of “Moderate Buy” and an average target price of $14.00.

Healthcare Services Group Price Performance

Shares of NASDAQ:HCSG opened at $12.42 on Friday. The company has a market capitalization of $910.26 million, a PE ratio of 18.00 and a beta of 0.55. The business has a fifty day moving average price of $11.24 and a two-hundred day moving average price of $10.97. Healthcare Services Group has a 1 year low of $8.98 and a 1 year high of $13.00.

Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. Healthcare Services Group had a return on equity of 12.59% and a net margin of 2.95%. The firm had revenue of $428.10 million for the quarter, compared to analysts’ expectations of $429.95 million. During the same quarter in the prior year, the firm earned $0.17 EPS. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. Sell-side analysts anticipate that Healthcare Services Group will post 0.81 earnings per share for the current year.

Institutional Trading of Healthcare Services Group

Institutional investors and hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD increased its position in shares of Healthcare Services Group by 8.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 39,830 shares of the business services provider’s stock valued at $498,000 after purchasing an additional 3,252 shares during the last quarter. CWM LLC lifted its holdings in Healthcare Services Group by 26.6% in the 2nd quarter. CWM LLC now owns 15,641 shares of the business services provider’s stock worth $165,000 after buying an additional 3,284 shares during the period. SG Americas Securities LLC purchased a new stake in Healthcare Services Group in the 2nd quarter worth approximately $188,000. Stanley Laman Group Ltd. lifted its holdings in Healthcare Services Group by 1.7% in the 2nd quarter. Stanley Laman Group Ltd. now owns 343,455 shares of the business services provider’s stock worth $3,634,000 after buying an additional 5,816 shares during the period. Finally, Raymond James & Associates lifted its holdings in Healthcare Services Group by 9.2% in the 2nd quarter. Raymond James & Associates now owns 383,864 shares of the business services provider’s stock worth $4,061,000 after buying an additional 32,411 shares during the period. Hedge funds and other institutional investors own 97.97% of the company’s stock.

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.