Healthcare Services Group (NASDAQ:HCSG) Downgraded to Hold Rating by Zacks Research

Zacks Research cut shares of Healthcare Services Group (NASDAQ:HCSG) from a strong-buy rating to a hold rating in a research report released on Tuesday,Zacks.com reports.

A number of other equities analysts also recently commented on HCSG. BMO Capital Markets boosted their price objective on shares of Healthcare Services Group from $22.00 to $24.00 and gave the stock a “market perform” rating in a research note on Thursday, April 23rd. UBS Group increased their target price on Healthcare Services Group from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Healthcare Services Group in a report on Tuesday, June 2nd. Wall Street Zen raised Healthcare Services Group from a “hold” rating to a “buy” rating in a research report on Sunday, March 29th. Finally, Royal Bank Of Canada raised their price objective on Healthcare Services Group from $22.00 to $24.00 and gave the company a “sector perform” rating in a research report on Thursday, April 23rd. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $24.00.

Healthcare Services Group Stock Performance

NASDAQ HCSG opened at $25.11 on Tuesday. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 26.16 and a beta of 0.78. The company’s 50-day simple moving average is $21.78 and its two-hundred day simple moving average is $20.35. Healthcare Services Group has a one year low of $12.66 and a one year high of $25.55.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Cetera Investment Advisers boosted its holdings in Healthcare Services Group by 4.3% in the fourth quarter. Cetera Investment Advisers now owns 14,052 shares of the business services provider’s stock worth $269,000 after acquiring an additional 581 shares in the last quarter. Sanctuary Advisors LLC grew its position in Healthcare Services Group by 3.8% during the 4th quarter. Sanctuary Advisors LLC now owns 20,151 shares of the business services provider’s stock worth $385,000 after purchasing an additional 738 shares during the last quarter. GAMMA Investing LLC increased its stake in Healthcare Services Group by 29.7% during the 4th quarter. GAMMA Investing LLC now owns 3,688 shares of the business services provider’s stock valued at $71,000 after purchasing an additional 845 shares in the last quarter. Farther Finance Advisors LLC increased its stake in Healthcare Services Group by 32.0% during the 4th quarter. Farther Finance Advisors LLC now owns 3,619 shares of the business services provider’s stock valued at $69,000 after purchasing an additional 877 shares in the last quarter. Finally, LPL Financial LLC raised its holdings in shares of Healthcare Services Group by 8.2% in the fourth quarter. LPL Financial LLC now owns 11,802 shares of the business services provider’s stock worth $226,000 after buying an additional 895 shares during the last quarter. 97.97% of the stock is 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.