Healthcare Services Group (NASDAQ:HCSG) Rating Lowered to “Hold” at Wall Street Zen

Healthcare Services Group (NASDAQ:HCSG) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

HCSG has been the topic of a number of other reports. BMO Capital Markets increased their target price on shares of Healthcare Services Group from $22.00 to $24.00 and gave the stock a “market perform” rating in a report on Thursday, April 23rd. Royal Bank Of Canada boosted their price target on shares of Healthcare Services Group from $22.00 to $24.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 23rd. Zacks Research downgraded shares of Healthcare Services Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 30th. UBS Group upped their price objective on Healthcare Services Group from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Finally, Weiss Ratings upgraded Healthcare Services Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, July 28th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.20.

Healthcare Services Group Price Performance

Shares of NASDAQ:HCSG opened at $23.30 on Friday. The firm has a market capitalization of $1.60 billion, a PE ratio of 13.55 and a beta of 0.81. The firm’s 50-day moving average is $22.87 and its two-hundred day moving average is $21.10. Healthcare Services Group has a 1 year low of $12.84 and a 1 year high of $25.75.

Healthcare Services Group (NASDAQ:HCSG) last posted its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $0.32 EPS for the quarter, beating the consensus estimate of $0.22 by $0.10. The business had revenue of $470.81 million during the quarter, compared to analyst estimates of $471.22 million. Healthcare Services Group had a net margin of 6.59% and a return on equity of 18.97%. During the same quarter last year, the firm posted ($0.44) earnings per share. Analysts expect that Healthcare Services Group will post 1.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC grew its holdings in Healthcare Services Group by 5.5% during the 1st quarter. Janus Henderson Group PLC now owns 890,035 shares of the business services provider’s stock worth $16,510,000 after acquiring an additional 46,427 shares in the last quarter. California State Teachers Retirement System increased its holdings in Healthcare Services Group by 35.1% in the first quarter. California State Teachers Retirement System now owns 91,270 shares of the business services provider’s stock valued at $1,693,000 after buying an additional 23,700 shares during the last quarter. Royal Bank of Canada raised its stake in Healthcare Services Group by 33.1% in the first quarter. Royal Bank of Canada now owns 393,601 shares of the business services provider’s stock valued at $7,301,000 after buying an additional 97,833 shares in the last quarter. Empowered Funds LLC raised its stake in Healthcare Services Group by 123.6% in the first quarter. Empowered Funds LLC now owns 215,824 shares of the business services provider’s stock valued at $4,004,000 after buying an additional 119,290 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Healthcare Services Group by 40.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 29,711 shares of the business services provider’s stock worth $551,000 after buying an additional 8,604 shares during the last quarter. Hedge funds and other institutional investors 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.