Healthcare Services Group (NASDAQ:HCSG) Raised to “Strong-Buy” at Wall Street Zen

Healthcare Services Group (NASDAQ:HCSG) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report issued on Saturday.

HCSG has been the subject of several other research reports. Macquarie reissued a “buy” rating on shares of Healthcare Services Group in a report on Wednesday, November 26th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Healthcare Services Group in a research report on Tuesday, November 25th. Zacks Research downgraded shares of Healthcare Services Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 30th. Benchmark upped their price target on shares of Healthcare Services Group from $19.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Finally, BMO Capital Markets began coverage on shares of Healthcare Services Group in a research note on Thursday, November 13th. They set a “market perform” rating and a $20.00 price objective for the company. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Healthcare Services Group has a consensus rating of “Hold” and a consensus target price of $19.40.

Healthcare Services Group Trading Up 0.5%

NASDAQ HCSG opened at $18.88 on Friday. The firm’s fifty day simple moving average is $17.52 and its two-hundred day simple moving average is $15.70. The firm has a market capitalization of $1.33 billion, a P/E ratio of 34.96 and a beta of 0.75. Healthcare Services Group has a 12-month low of $9.13 and a 12-month high of $20.00.

Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings data on Wednesday, October 22nd. The business services provider reported $0.23 EPS for the quarter, beating the consensus estimate of $0.21 by $0.02. Healthcare Services Group had a return on equity of 12.23% and a net margin of 2.20%.The firm had revenue of $464.34 million during the quarter, compared to analyst estimates of $460.36 million. During the same quarter in the prior year, the business posted $0.19 EPS. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, sell-side analysts predict that Healthcare Services Group will post 0.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Healthcare Services Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC boosted its position in Healthcare Services Group by 163.4% during the second quarter. EverSource Wealth Advisors LLC now owns 2,186 shares of the business services provider’s stock worth $33,000 after purchasing an additional 1,356 shares in the last quarter. GAMMA Investing LLC grew its holdings in Healthcare Services Group by 94.9% in the 3rd quarter. GAMMA Investing LLC now owns 2,843 shares of the business services provider’s stock valued at $48,000 after buying an additional 1,384 shares in the last quarter. USA Financial Formulas acquired a new stake in Healthcare Services Group during the second quarter worth about $60,000. US Bancorp DE raised its position in shares of Healthcare Services Group by 161.4% during the 1st quarter. US Bancorp DE now owns 8,097 shares of the business services provider’s stock valued at $82,000 after buying an additional 5,000 shares during the period. Finally, LSV Asset Management acquired a new position in shares of Healthcare Services Group in the 3rd quarter valued at $108,000. 97.97% of the stock is owned by institutional investors and hedge funds.

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.