Healthcare Services Group (NASDAQ:HCSG) Lifted to Hold at Zacks Investment Research

Healthcare Services Group (NASDAQ:HCSGGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Thursday, Zacks.com reports.

According to Zacks, “Healthcare Services Group, Inc. provides housekeeping, laundry, linen, facility maintenance and food services to the health care industry, including nursing homes, retirement complexes, rehabilitation centers and hospitals. Healthcare Services Group has the experience and expertise to meet these needs, making the preferred choice for hospital and senior living clients nationwide. Healthcare Services Group has delivered exceptional housekeeping/laundry and dining/nutrition services to an ever-changing healthcare industry. Healthcare Services provide professional management of ancillary services to a diverse mix of satisfied clients. Flexible and responsive, our people are trained to help you achieve success by delivering innovative solutions, exceptional performance and measurable results. “

Other equities analysts also recently issued research reports about the stock. Jefferies Financial Group downgraded shares of Healthcare Services Group from a “hold” rating to an “underperform” rating and cut their price objective for the company from $19.00 to $13.50 in a report on Thursday, February 10th. Credit Suisse Group upped their price objective on Healthcare Services Group from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday. Robert W. Baird upped their price objective on Healthcare Services Group from $17.00 to $23.00 in a research report on Thursday. StockNews.com assumed coverage on Healthcare Services Group in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Royal Bank of Canada increased their target price on Healthcare Services Group from $17.00 to $20.00 and gave the company a “sector perform” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $21.70.

HCSG traded down $0.12 during trading on Thursday, reaching $19.79. The company had a trading volume of 1,930,003 shares, compared to its average volume of 1,202,877. Healthcare Services Group has a 52 week low of $14.75 and a 52 week high of $32.96. The stock has a market cap of $1.46 billion, a P/E ratio of 31.92 and a beta of 0.35. The business has a 50 day simple moving average of $17.24 and a 200-day simple moving average of $18.38.

Healthcare Services Group (NASDAQ:HCSGGet Rating) last released its quarterly earnings data on Wednesday, April 20th. The business services provider reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.09. Healthcare Services Group had a net margin of 2.79% and a return on equity of 9.58%. The company had revenue of $426.80 million during the quarter, compared to analyst estimates of $424.78 million. During the same period in the prior year, the firm earned $0.33 earnings per share. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities research analysts expect that Healthcare Services Group will post 0.43 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Healthcare Services Group by 403.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,546 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 1,239 shares during the period. Point72 Hong Kong Ltd lifted its position in Healthcare Services Group by 275.0% during the third quarter. Point72 Hong Kong Ltd now owns 1,560 shares of the business services provider’s stock worth $39,000 after buying an additional 1,144 shares during the period. Sageworth Trust Co of South Dakota purchased a new position in Healthcare Services Group during the fourth quarter worth about $46,000. Covestor Ltd acquired a new stake in Healthcare Services Group during the fourth quarter worth about $46,000. Finally, Public Employees Retirement System of Ohio increased its stake in Healthcare Services Group by 18.0% during the fourth quarter. Public Employees Retirement System of Ohio now owns 7,285 shares of the business services provider’s stock worth $130,000 after acquiring an additional 1,113 shares during the last quarter.

Healthcare Services Group Company Profile (Get Rating)

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.

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