Healthcare Services Group (NASDAQ:HCSG) Upgraded to “Outperform” at Macquarie

Macquarie upgraded shares of Healthcare Services Group (NASDAQ:HCSG) from a neutral rating to an outperform rating in a report released on Tuesday morning, Marketbeat reports. Macquarie currently has $16.00 target price on the business services provider’s stock, up from their previous target price of $15.00.

Several other equities analysts have also recently weighed in on the company. Benchmark raised their price target on Healthcare Services Group from $17.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Robert W. Baird raised their price target on Healthcare Services Group from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. UBS Group upgraded Healthcare Services Group from a “neutral” rating to a “buy” rating and raised their price target for the company from $12.00 to $15.00 in a report on Thursday, April 24th. Finally, Wall Street Zen cut Healthcare Services Group from a “strong-buy” rating to a “buy” rating in a report on Saturday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.25.

Healthcare Services Group Stock Up 0.2%

NASDAQ HCSG opened at $13.27 on Tuesday. The stock’s 50-day moving average price is $14.22 and its 200-day moving average price is $12.38. Healthcare Services Group has a 52 week low of $9.13 and a 52 week high of $15.73. The company has a market capitalization of $960.88 million, a P/E ratio of 94.79 and a beta of 0.57.

Healthcare Services Group (NASDAQ:HCSG) last released its earnings results on Wednesday, July 23rd. The business services provider reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.01. Healthcare Services Group had a return on equity of 11.74% and a net margin of 0.61%. The firm had revenue of $458.50 million during the quarter, compared to analysts’ expectations of $450.78 million. During the same quarter last year, the business posted $0.20 earnings per share. The firm’s revenue was up 7.6% on a year-over-year basis. Research analysts anticipate that Healthcare Services Group will post 0.74 EPS for the current year.

Hedge Funds Weigh In On Healthcare Services Group

A number of large investors have recently bought and sold shares of the business. Sterling Capital Management LLC grew its position in shares of Healthcare Services Group by 803.4% in the fourth quarter. Sterling Capital Management LLC now owns 2,358 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 2,097 shares in the last quarter. USA Financial Formulas purchased a new stake in shares of Healthcare Services Group in the second quarter valued at approximately $60,000. US Bancorp DE grew its position in shares of Healthcare Services Group by 161.4% in the first quarter. US Bancorp DE now owns 8,097 shares of the business services provider’s stock valued at $82,000 after purchasing an additional 5,000 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of Healthcare Services Group in the fourth quarter valued at approximately $118,000. Finally, Martingale Asset Management L P purchased a new position in Healthcare Services Group in the first quarter worth approximately $127,000. Institutional investors and hedge funds 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.