Healthcare Services Group (NASDAQ:HCSG) Lowered to “Buy” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Healthcare Services Group (NASDAQ:HCSG) from a strong-buy rating to a buy rating in a research note issued to investors on Sunday.

A number of other equities analysts also recently weighed in on the stock. BMO Capital Markets started coverage on shares of Healthcare Services Group in a research note on Thursday, November 13th. They issued a “market perform” rating and a $20.00 target price for the company. Macquarie restated a “buy” rating on shares of Healthcare Services Group in a research report on Wednesday, November 26th. Benchmark upped their price objective on Healthcare Services Group from $19.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Zacks Research cut Healthcare Services Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 30th. Finally, UBS Group restated a “buy” rating on shares of Healthcare Services Group in a research report on Monday, November 24th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $19.40.

Healthcare Services Group Price Performance

HCSG stock opened at $19.37 on Friday. The business has a fifty day moving average price of $17.75 and a 200 day moving average price of $15.87. Healthcare Services Group has a fifty-two week low of $9.13 and a fifty-two week high of $20.00. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 35.87 and a beta of 0.75.

Healthcare Services Group (NASDAQ:HCSG) last announced its earnings results on Wednesday, October 22nd. The business services provider reported $0.23 EPS for the quarter, topping 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 company had revenue of $464.34 million for the quarter, compared to analysts’ expectations of $460.36 million. During the same quarter in the prior year, the business earned $0.19 earnings per share. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, equities analysts expect that Healthcare Services Group will post 0.74 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Cambria Investment Management L.P. grew its stake in shares of Healthcare Services Group by 25.0% during the third quarter. Cambria Investment Management L.P. now owns 39,017 shares of the business services provider’s stock worth $657,000 after purchasing an additional 7,803 shares during the period. CANADA LIFE ASSURANCE Co boosted its holdings in Healthcare Services Group by 3.0% during the third quarter. CANADA LIFE ASSURANCE Co now owns 61,586 shares of the business services provider’s stock worth $1,015,000 after buying an additional 1,809 shares during the last quarter. PharVision Advisers LLC acquired a new position in shares of Healthcare Services Group during the 3rd quarter worth about $176,000. Polymer Capital Management US LLC bought a new stake in shares of Healthcare Services Group in the 3rd quarter valued at about $397,000. Finally, Mariner LLC acquired a new stake in shares of Healthcare Services Group in the 3rd quarter valued at approximately $460,000. 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.