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

Wall Street Zen upgraded shares of Healthcare Services Group (NASDAQ:HCSG) from a buy rating to a strong-buy rating in a research report released on Saturday morning.

A number of other research firms have also issued reports on HCSG. UBS Group set a $25.00 price target on shares of Healthcare Services Group and gave the stock a “buy” rating in a research report on Thursday. Benchmark reissued a “buy” rating on shares of Healthcare Services Group in a report on Thursday. Macquarie Infrastructure restated a “buy” rating on shares of Healthcare Services Group in a research report on Wednesday, November 26th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Healthcare Services Group in a research note on Monday, December 29th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $22.00 price objective on shares of Healthcare Services Group in a report on Thursday. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $22.00.

Healthcare Services Group Stock Performance

Shares of HCSG opened at $21.59 on Friday. The stock has a 50-day moving average of $19.26 and a two-hundred day moving average of $17.46. 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 has a one year low of $9.13 and a one year high of $22.98.

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

Hedge Funds Weigh In On Healthcare Services Group

Large investors have recently bought and sold shares of the business. Marshall Wace LLP grew its holdings in Healthcare Services Group by 354.7% in the fourth quarter. Marshall Wace LLP now owns 114,639 shares of the business services provider’s stock valued at $2,192,000 after purchasing an additional 89,428 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Healthcare Services Group by 12.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,475,369 shares of the business services provider’s stock valued at $28,209,000 after buying an additional 158,261 shares in the last quarter. Ieq Capital LLC grew its stake in Healthcare Services Group by 38.0% in the 4th quarter. Ieq Capital LLC now owns 133,417 shares of the business services provider’s stock valued at $2,551,000 after acquiring an additional 36,711 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in Healthcare Services Group in the 4th quarter valued at $33,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Healthcare Services Group by 3.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 138,058 shares of the business services provider’s stock worth $2,640,000 after acquiring an additional 5,076 shares in the last quarter. Institutional investors and hedge funds own 97.97% of the company’s stock.

Healthcare Services Group Company Profile

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.