Healthcare Services Group, Inc. (NASDAQ:HCSG) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) have been given an average rating of “Moderate Buy” by the nine ratings firms that are presently covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $24.00.

Several analysts have issued reports on HCSG shares. Royal Bank Of Canada lifted their price target on Healthcare Services Group from $22.00 to $24.00 and gave the company a “sector perform” rating in a research note on Thursday, April 23rd. Wall Street Zen raised Healthcare Services Group from a “hold” rating to a “buy” rating in a research note on Sunday, March 29th. Benchmark lifted their price target on Healthcare Services Group from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Zacks Research raised Healthcare Services Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 4th. Finally, William Blair raised Healthcare Services Group from a “market perform” rating to an “outperform” rating in a research note on Friday, February 20th.

Healthcare Services Group Trading Down 0.8%

HCSG stock opened at $22.37 on Thursday. The business’s 50-day moving average price is $20.88 and its two-hundred day moving average price is $20.01. The firm has a market cap of $1.54 billion, a PE ratio of 23.30 and a beta of 0.82. Healthcare Services Group has a 1-year low of $12.66 and a 1-year high of $24.39.

Healthcare Services Group (NASDAQ:HCSG) last posted its earnings results on Wednesday, April 22nd. The business services provider reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.15. The firm had revenue of $462.77 million for the quarter, compared to analyst estimates of $479.79 million. Healthcare Services Group had a return on equity of 17.81% and a net margin of 3.67%.The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.23 earnings per share. On average, analysts forecast that Healthcare Services Group will post 1.01 earnings per share for the current year.

Institutional Trading of Healthcare Services Group

Several hedge funds and other institutional investors have recently modified their holdings of HCSG. 8 Knots Management LLC acquired a new stake in shares of Healthcare Services Group in the 3rd quarter valued at about $56,527,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Healthcare Services Group by 454.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,405,952 shares of the business services provider’s stock valued at $26,080,000 after purchasing an additional 1,152,176 shares during the period. Ameriprise Financial Inc. increased its position in shares of 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 valued at $33,354,000 after acquiring an additional 882,213 shares during the last quarter. American Century Companies Inc. increased its position in shares of Healthcare Services Group by 38.1% in the third quarter. American Century Companies Inc. now owns 1,766,601 shares of the business services provider’s stock valued at $29,732,000 after acquiring an additional 487,608 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its position in shares of Healthcare Services Group by 1,116.3% in the second quarter. Qube Research & Technologies Ltd now owns 448,806 shares of the business services provider’s stock valued at $6,746,000 after acquiring an additional 411,908 shares during the last quarter. Institutional investors and hedge funds 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.