Healthcare Services Group (NASDAQ:HCSG) Upgraded by Wall Street Zen to Strong-Buy Rating

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

HCSG has been the topic of a number of other reports. BMO Capital Markets reaffirmed a “market perform” rating and issued a $22.00 target price on shares of Healthcare Services Group in a report on Thursday. Robert W. Baird set a $23.00 target price on shares of Healthcare Services Group in a report on Thursday. UBS Group set a $25.00 price target on Healthcare Services Group and gave the company a “buy” rating in a research note on Thursday. Macquarie Infrastructure reiterated a “buy” rating on shares of Healthcare Services Group in a research report on Wednesday, November 26th. Finally, Benchmark reiterated a “buy” rating on shares of Healthcare Services Group in a research report on Thursday. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $22.00.

Healthcare Services Group Trading Up 1.2%

NASDAQ HCSG opened at $21.59 on Friday. Healthcare Services Group has a 12 month low of $9.13 and a 12 month high of $22.98. The stock’s fifty day moving average price is $19.26 and its 200-day moving average price is $17.43. The stock has a market cap of $1.52 billion, a P/E ratio of 26.33 and a beta of 0.74.

Healthcare Services Group (NASDAQ:HCSG) last posted its quarterly earnings results on Wednesday, February 11th. The business services provider reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.21. The firm had revenue of $466.68 million during the quarter, compared to analyst estimates of $467.24 million. Healthcare Services Group had a return on equity of 16.04% and a net margin of 3.21%.Healthcare Services Group’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.16 EPS. As a group, 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 the company. Miller Global Investments LLC acquired a new position in Healthcare Services Group during the 4th quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Healthcare Services Group during the fourth quarter valued at $33,000. EverSource Wealth Advisors LLC grew its holdings in shares of 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 valued at $33,000 after buying an additional 1,356 shares during the last quarter. GAMMA Investing LLC increased its position in shares of 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 acquiring an additional 1,384 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in Healthcare Services Group by 32.0% in the 4th quarter. Farther Finance Advisors LLC now owns 3,619 shares of the business services provider’s stock worth $69,000 after acquiring an additional 877 shares during the last quarter. 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.