Healthcare Services Group, Inc. (NASDAQ:HCSG) Receives Consensus Rating of “Hold” from Brokerages

Healthcare Services Group, Inc. (NASDAQ:HCSG) has been given an average rating of “Hold” by the seven ratings firms that are covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $19.40.

A number of analysts have commented on the stock. Benchmark upped their target price on shares of Healthcare Services Group from $19.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. BMO Capital Markets started coverage on shares of Healthcare Services Group in a report on Thursday, November 13th. They issued a “market perform” rating and a $20.00 target price for the company. Macquarie reissued a “buy” rating on shares of Healthcare Services Group in a research note on Wednesday, November 26th. Zacks Research downgraded Healthcare Services Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 30th. Finally, UBS Group reaffirmed a “buy” rating on shares of Healthcare Services Group in a research note on Monday, November 24th.

Healthcare Services Group Stock Performance

Shares of NASDAQ:HCSG opened at $19.31 on Monday. The stock’s 50-day simple moving average is $18.59 and its two-hundred day simple moving average is $16.54. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 35.76 and a beta of 0.71. Healthcare Services Group has a 52-week low of $9.13 and a 52-week high of $20.26.

Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings results 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. The firm had revenue of $464.34 million during the quarter, compared to analyst estimates of $460.36 million. Healthcare Services Group had a net margin of 2.20% and a return on equity of 12.23%. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.19 EPS. As a group, equities analysts forecast that Healthcare Services Group will post 0.74 earnings per share for the current fiscal year.

Institutional Trading of Healthcare Services Group

Several institutional investors and hedge funds have recently made changes to their positions in HCSG. SG Americas Securities LLC grew its holdings in shares of Healthcare Services Group by 298.1% in the fourth quarter. SG Americas Securities LLC now owns 43,739 shares of the business services provider’s stock worth $836,000 after purchasing an additional 32,752 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Healthcare Services Group by 44.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 24,557 shares of the business services provider’s stock valued at $463,000 after buying an additional 7,507 shares during the period. CWA Asset Management Group LLC grew its stake in Healthcare Services Group by 2.9% in the 4th quarter. CWA Asset Management Group LLC now owns 84,353 shares of the business services provider’s stock worth $1,613,000 after acquiring an additional 2,397 shares in the last quarter. Miller Global Investments LLC purchased a new position in shares of Healthcare Services Group during the fourth quarter worth approximately $26,000. Finally, GAMMA Investing LLC increased its position in shares of Healthcare Services Group by 29.7% during the fourth quarter. GAMMA Investing LLC now owns 3,688 shares of the business services provider’s stock worth $71,000 after acquiring an additional 845 shares during the period. 97.97% of the stock is currently owned by institutional investors.

About Healthcare Services Group

Healthcare Services Group, Inc (NASDAQ: HCSG) is a leading provider of support services to healthcare facilities across the United States. The company specializes in environmental services, including housekeeping and sanitation, as well as linen and laundry management. In addition, Healthcare Services Group offers dietary and nutrition services, catering to hospitals, skilled nursing facilities, assisted living communities and other long-term care providers.

Founded as a family-owned business in the late 1970s, the company completed its initial public offering in 1997.