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

Healthcare Services Group (NASDAQ:HCSG) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

HCSG has been the subject of a number of other reports. UBS Group set a $25.00 price objective on Healthcare Services Group and gave the stock a “buy” rating in a report on Thursday, February 12th. Macquarie Infrastructure reiterated a “buy” rating on shares of Healthcare Services Group in a report on Wednesday, November 26th. Royal Bank Of Canada started coverage on shares of Healthcare Services Group in a research note on Tuesday, March 3rd. They set a “sector perform” rating and a $22.00 target price on the stock. William Blair raised Healthcare Services Group from a “market perform” rating to an “outperform” rating in a research note on Friday, February 20th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Healthcare Services Group in a research note on Monday, December 29th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $22.00.

Healthcare Services Group Trading Down 1.0%

Shares of Healthcare Services Group stock opened at $18.97 on Friday. The stock has a fifty day simple moving average of $19.99 and a 200 day simple moving average of $18.46. The company has a market capitalization of $1.33 billion, a P/E ratio of 23.13 and a beta of 0.73. Healthcare Services Group has a 12-month low of $9.13 and a 12-month high of $22.98.

Healthcare Services Group (NASDAQ:HCSG) last posted its quarterly earnings data on Wednesday, February 11th. The business services provider reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.21. The business had revenue of $466.68 million for the quarter, compared to analysts’ expectations of $467.24 million. Healthcare Services Group had a return on equity of 16.04% and a net margin of 3.21%.The business’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.16 earnings per share. On average, analysts predict that Healthcare Services Group will post 0.74 EPS for the current year.

Insider Activity at Healthcare Services Group

In other news, CAO Andrew M. Brophy sold 2,490 shares of the stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $21.75, for a total transaction of $54,157.50. Following the completion of the sale, the chief accounting officer owned 15,735 shares in the company, valued at approximately $342,236.25. This represents a 13.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP John Christopher Shea sold 54,357 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $20.41, for a total value of $1,109,426.37. Following the sale, the executive vice president owned 29,292 shares in the company, valued at approximately $597,849.72. The trade was a 64.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 146,962 shares of company stock valued at $3,014,100 over the last quarter. 2.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Healthcare Services Group

Institutional investors have recently modified their holdings of the business. Miller Global Investments LLC acquired a new position in Healthcare Services Group in the 4th quarter worth about $26,000. EverSource Wealth Advisors LLC grew its holdings in Healthcare Services Group by 163.4% in the second quarter. EverSource Wealth Advisors LLC now owns 2,186 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 1,356 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Healthcare Services Group in the fourth quarter valued at approximately $33,000. GAMMA Investing LLC grew its stake 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 acquiring an additional 1,384 shares during the period. Finally, Farther Finance Advisors LLC grew 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 valued at $69,000 after acquiring an additional 877 shares during the period. 97.97% of the stock is currently owned by institutional investors and hedge funds.

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.