Analysts Set Healthcare Services Group, Inc. (NASDAQ:HCSG) Price Target at $16.25

Healthcare Services Group, Inc. (NASDAQ:HCSG) has been assigned an average rating of “Buy” from the five analysts that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $16.25.

HCSG has been the subject of a number of research analyst reports. Benchmark lifted their price objective on shares of Healthcare Services Group from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Robert W. Baird boosted their price target on shares of Healthcare Services Group from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. UBS Group raised shares of Healthcare Services Group from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $12.00 to $15.00 in a research note on Thursday, April 24th. Wall Street Zen downgraded shares of Healthcare Services Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 26th. Finally, Zacks Research raised shares of Healthcare Services Group to a “strong-buy” rating in a research note on Tuesday, August 12th.

Insider Activity

In other Healthcare Services Group news, EVP John Christopher Shea sold 21,368 shares of the business’s stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $13.25, for a total value of $283,126.00. Following the transaction, the executive vice president owned 32,976 shares in the company, valued at approximately $436,932. The trade was a 39.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Healthcare Services Group

Hedge funds have recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its position in shares of Healthcare Services Group by 1,152.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 166,643 shares of the business services provider’s stock valued at $1,680,000 after acquiring an additional 153,333 shares during the period. Mackenzie Financial Corp increased its position in shares of Healthcare Services Group by 0.8% during the first quarter. Mackenzie Financial Corp now owns 4,128,934 shares of the business services provider’s stock valued at $41,620,000 after buying an additional 34,037 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Healthcare Services Group during the first quarter valued at about $1,121,000. Palisade Capital Management LP increased its position in shares of Healthcare Services Group by 0.9% during the first quarter. Palisade Capital Management LP now owns 2,237,866 shares of the business services provider’s stock valued at $22,558,000 after buying an additional 20,720 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in shares of Healthcare Services Group during the first quarter valued at about $1,007,000. Hedge funds and other institutional investors own 97.97% of the company’s stock.

Healthcare Services Group Stock Performance

NASDAQ HCSG opened at $15.02 on Friday. 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 $1.09 billion, a P/E ratio of 107.29 and a beta of 0.54. The company has a fifty day moving average of $14.21 and a 200-day moving average of $12.62.

Healthcare Services Group (NASDAQ:HCSG) last posted its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. Healthcare Services Group had a net margin of 0.61% and a return on equity of 11.74%. The company had revenue of $458.50 million during the quarter, compared to the consensus estimate of $450.78 million. During the same period in the previous year, the firm posted $0.20 EPS. The firm’s revenue was up 7.6% compared to the same quarter last year. As a group, analysts forecast that Healthcare Services Group will post 0.74 EPS for the current fiscal year.

About Healthcare Services Group

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.