StockNews.com Upgrades Healthcare Services Group (NASDAQ:HCSG) to “Buy”

Healthcare Services Group (NASDAQ:HCSG) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

Several other equities analysts have also recently issued reports on HCSG. Benchmark reiterated a “buy” rating and issued a $17.00 price objective on shares of Healthcare Services Group in a research note on Thursday, December 19th. Robert W. Baird dropped their price target on Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, October 24th. Finally, Macquarie initiated coverage on shares of Healthcare Services Group in a research report on Monday, December 16th. They set a “neutral” rating and a $13.00 price objective on the stock. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $13.80.

Healthcare Services Group Stock Performance

Shares of NASDAQ HCSG traded up $0.12 during mid-day trading on Tuesday, reaching $11.68. 239,174 shares of the company’s stock were exchanged, compared to its average volume of 380,359. The company’s 50-day moving average is $11.91 and its 200-day moving average is $11.22. The firm has a market capitalization of $856.04 million, a price-to-earnings ratio of 16.93 and a beta of 0.56. Healthcare Services Group has a 52-week low of $8.98 and a 52-week high of $13.00.

Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. Healthcare Services Group had a net margin of 2.95% and a return on equity of 12.59%. The business had revenue of $428.10 million for the quarter, compared to the consensus estimate of $429.95 million. During the same period in the previous year, the firm earned $0.17 EPS. The business’s revenue was up 4.1% on a year-over-year basis. As a group, equities analysts predict that Healthcare Services Group will post 0.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Healthcare Services Group

A number of large investors have recently made changes to their positions in the stock. GAMMA Investing LLC increased its stake in shares of Healthcare Services Group by 100.8% during the 4th quarter. GAMMA Investing LLC now owns 2,137 shares of the business services provider’s stock worth $25,000 after purchasing an additional 1,073 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Healthcare Services Group by 804.0% in the third quarter. Farther Finance Advisors LLC now owns 2,730 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 2,428 shares in the last quarter. Headlands Technologies LLC boosted its stake in shares of Healthcare Services Group by 44.4% during the second quarter. Headlands Technologies LLC now owns 3,107 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 955 shares during the last quarter. Financial Management Professionals Inc. increased its position in Healthcare Services Group by 85.7% during the 3rd quarter. Financial Management Professionals Inc. now owns 8,180 shares of the business services provider’s stock worth $91,000 after purchasing an additional 3,774 shares in the last quarter. Finally, Bleakley Financial Group LLC acquired a new position in Healthcare Services Group in the 3rd quarter valued at about $116,000. 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.