Healthcare Services Group (NASDAQ:HCSG) Stock Price Up 3.1%

Healthcare Services Group, Inc. (NASDAQ:HCSG)’s share price traded up 3.1% during trading on Tuesday . The company traded as high as $10.85 and last traded at $10.84. 67,669 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 518,072 shares. The stock had previously closed at $10.51.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on HCSG. Benchmark reissued a “buy” rating and issued a $17.00 price target on shares of Healthcare Services Group in a report on Thursday, July 25th. Royal Bank of Canada cut their target price on Healthcare Services Group from $15.00 to $14.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Finally, Robert W. Baird boosted their price target on shares of Healthcare Services Group from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Healthcare Services Group presently has a consensus rating of “Hold” and a consensus target price of $14.50.

Healthcare Services Group Stock Up 2.4 %

The company has a market cap of $789.57 million, a price-to-earnings ratio of 18.44 and a beta of 0.53. The business has a 50-day simple moving average of $10.92 and a two-hundred day simple moving average of $11.27.

Healthcare Services Group (NASDAQ:HCSG) last announced its earnings results on Wednesday, July 24th. The business services provider reported $0.20 EPS for the quarter, hitting the consensus estimate of $0.20. The firm had revenue of $426.30 million for the quarter, compared to the consensus estimate of $424.94 million. Healthcare Services Group had a net margin of 1.82% and a return on equity of 12.58%. The business’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.12 EPS. As a group, equities analysts anticipate that Healthcare Services Group, Inc. will post 0.78 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Headlands Technologies LLC bought a new stake in shares of Healthcare Services Group during the first quarter valued at approximately $27,000. Financial Management Professionals Inc. acquired a new stake in Healthcare Services Group during the first quarter valued at approximately $55,000. PNC Financial Services Group Inc. grew its position in Healthcare Services Group by 38.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,186 shares of the business services provider’s stock valued at $64,000 after acquiring an additional 1,714 shares during the period. International Assets Investment Management LLC acquired a new position in Healthcare Services Group during the fourth quarter worth $921,000. Finally, Hennion & Walsh Asset Management Inc. bought a new position in shares of Healthcare Services Group during the second quarter valued at $124,000. Institutional investors and hedge funds own 97.97% of the company’s stock.

About Healthcare Services Group

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.