Healthcare Services Group (NASDAQ:HCSG) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $15.91 and traded as high as $19.59. Healthcare Services Group shares last traded at $19.36, with a volume of 800,629 shares changing hands.

Wall Street Analyst Weigh In

HCSG has been the topic of several recent research reports. BMO Capital Markets started coverage on Healthcare Services Group in a research report on Thursday, November 13th. They issued a “market perform” rating and a $20.00 price objective on the stock. Benchmark raised 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 report on Thursday, October 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Healthcare Services Group in a report on Monday, December 8th. Zacks Research lowered shares of Healthcare Services Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 30th. Finally, Macquarie restated a “buy” rating on shares of Healthcare Services Group in a research report on Wednesday, November 26th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $19.40.

Healthcare Services Group Trading Down 0.1%

The company has a fifty day moving average of $17.81 and a 200-day moving average of $15.91. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 35.85 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, beating analysts’ consensus estimates of $0.21 by $0.02. The business had revenue of $464.34 million during the quarter, compared to analysts’ expectations of $460.36 million. Healthcare Services Group had a return on equity of 12.23% and a net margin of 2.20%.The business’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.19 earnings per share. As a group, equities research analysts expect that Healthcare Services Group, Inc. will post 0.74 EPS for the current year.

Institutional Investors Weigh In On Healthcare Services Group

A number of large investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC grew its stake in Healthcare Services Group by 163.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,186 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 1,356 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Healthcare Services Group by 94.9% during the 3rd quarter. GAMMA Investing LLC now owns 2,843 shares of the business services provider’s stock worth $48,000 after purchasing an additional 1,384 shares during 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. LSV Asset Management acquired a new stake in shares of Healthcare Services Group in the third quarter valued at approximately $108,000. Finally, US Bancorp DE lifted its position in Healthcare Services Group by 161.4% during the first quarter. US Bancorp DE now owns 8,097 shares of the business services provider’s stock worth $82,000 after buying an additional 5,000 shares in the last quarter. Hedge funds and other institutional investors 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.