Healthcare Services Group (NASDAQ:HCSG) Now Covered by Royal Bank Of Canada

Royal Bank Of Canada assumed coverage on shares of Healthcare Services Group (NASDAQ:HCSG) in a report released on Tuesday, MarketBeat Ratings reports. The brokerage issued a sector perform rating and a $22.00 price target on the business services provider’s stock.

A number of other equities analysts have also recently commented on HCSG. Robert W. Baird set a $23.00 target price on shares of Healthcare Services Group in a research report on Thursday, February 12th. Macquarie Infrastructure reissued a “buy” rating on shares of Healthcare Services Group in a research note on Wednesday, November 26th. UBS Group set a $25.00 target price on Healthcare Services Group and gave the company a “buy” rating in a report on Thursday, February 12th. Weiss Ratings restated a “hold (c+)” rating on shares of Healthcare Services Group in a research report on Monday, December 29th. Finally, Wall Street Zen cut Healthcare Services Group from a “strong-buy” rating to a “buy” rating in a research note on Sunday, February 22nd. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $22.00.

Healthcare Services Group Price Performance

NASDAQ:HCSG opened at $21.30 on Tuesday. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 25.98 and a beta of 0.73. The business has a 50 day moving average of $19.76 and a 200 day moving average of $18.08. Healthcare Services Group has a 1-year low of $9.13 and a 1-year high of $22.98.

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

Insider Activity at Healthcare Services Group

In other news, EVP Patrick J. Orr sold 45,500 shares of Healthcare Services Group stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $20.54, for a total value of $934,570.00. Following the sale, the executive vice president directly owned 44,615 shares in the company, valued at approximately $916,392.10. This trade represents a 50.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John Christopher Shea sold 54,357 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 29,292 shares in the company, valued at $597,849.72. This trade represents a 64.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 146,962 shares of company stock worth $3,014,100 in the last 90 days. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Healthcare Services Group

Several large investors have recently added to or reduced their stakes in the stock. 8 Knots Management LLC bought a new position in Healthcare Services Group in the 3rd quarter worth $56,527,000. Arrowstreet Capital Limited Partnership increased its position in shares of Healthcare Services Group by 240.1% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,496,835 shares of the business services provider’s stock valued at $22,497,000 after buying an additional 1,056,705 shares during the period. Ameriprise Financial Inc. raised its stake in Healthcare Services Group by 80.2% in the third quarter. Ameriprise Financial Inc. now owns 1,981,840 shares of the business services provider’s stock worth $33,354,000 after buying an additional 882,213 shares in the last quarter. American Century Companies Inc. lifted its holdings in Healthcare Services Group by 183.0% in the second quarter. American Century Companies Inc. now owns 1,278,993 shares of the business services provider’s stock worth $19,223,000 after buying an additional 827,057 shares during the period. Finally, CSM Advisors LLC bought a new stake in Healthcare Services Group during the 2nd quarter valued at approximately $8,864,000. Institutional investors own 97.97% of the company’s stock.

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.