Macquarie Begins Coverage on Healthcare Services Group (NASDAQ:HCSG)

Equities research analysts at Macquarie initiated coverage on shares of Healthcare Services Group (NASDAQ:HCSG) in a note issued to investors on Monday,Briefing.com Automated Import reports. The firm set a “neutral” rating on the business services provider’s stock.

Several other analysts have also commented on HCSG. Benchmark restated a “buy” rating and set a $17.00 price target on shares of Healthcare Services Group in a research report on Thursday, October 24th. StockNews.com cut Healthcare Services Group from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Robert W. Baird reduced their price target on Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Healthcare Services Group currently has an average rating of “Hold” and an average target price of $14.00.

Healthcare Services Group Price Performance

Shares of Healthcare Services Group stock opened at $12.54 on Monday. Healthcare Services Group has a 1 year low of $8.98 and a 1 year high of $13.00. The stock has a market cap of $919.07 million, a PE ratio of 18.17 and a beta of 0.55. The firm has a fifty day moving average price of $11.48 and a 200 day moving average price of $11.04.

Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. The business had revenue of $428.10 million during the quarter, compared to analyst estimates of $429.95 million. Healthcare Services Group had a return on equity of 12.59% and a net margin of 2.95%. The company’s revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the business posted $0.17 EPS. As a group, equities analysts expect that Healthcare Services Group will post 0.81 EPS for the current year.

Institutional Investors Weigh In On Healthcare Services Group

Several institutional investors have recently bought and sold shares of HCSG. Franklin Resources Inc. lifted its stake in Healthcare Services Group by 39.9% in the 3rd quarter. Franklin Resources Inc. now owns 560,588 shares of the business services provider’s stock worth $5,858,000 after purchasing an additional 159,878 shares in the last quarter. Tidal Investments LLC grew its holdings in Healthcare Services Group by 1.7% in the 3rd quarter. Tidal Investments LLC now owns 78,218 shares of the business services provider’s stock valued at $874,000 after buying an additional 1,276 shares in the last quarter. Barclays PLC increased its stake in shares of Healthcare Services Group by 169.3% in the 3rd quarter. Barclays PLC now owns 145,926 shares of the business services provider’s stock worth $1,631,000 after acquiring an additional 91,733 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Healthcare Services Group by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,760,971 shares of the business services provider’s stock worth $19,674,000 after acquiring an additional 50,375 shares during the period. Finally, National Bank of Canada FI boosted its position in shares of Healthcare Services Group by 15.8% during the 3rd quarter. National Bank of Canada FI now owns 20,877 shares of the business services provider’s stock valued at $233,000 after acquiring an additional 2,853 shares during the last quarter. 97.97% of the stock is currently owned by institutional investors and hedge funds.

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.