Credit Suisse Group Reaffirms Outperform Rating for Healthcare Services Group, Inc. (NASDAQ:HCSG)

Healthcare Services Group, Inc. (NASDAQ:HCSG)‘s stock had its “outperform” rating restated by Credit Suisse Group in a research note issued on Friday, November 3rd. They currently have a $62.00 price target on the business services provider’s stock, up from their prior price target of $56.00. Credit Suisse Group’s target price suggests a potential upside of 21.93% from the company’s current price.

Other equities analysts have also issued research reports about the company. BidaskClub lowered Healthcare Services Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. Zacks Investment Research upgraded Healthcare Services Group from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research note on Friday, July 14th. Stifel Nicolaus reiterated a “buy” rating and issued a $50.00 target price (up previously from $48.00) on shares of Healthcare Services Group in a research note on Wednesday, July 12th. Robert W. Baird reiterated a “buy” rating and issued a $52.00 target price on shares of Healthcare Services Group in a research note on Wednesday, October 4th. Finally, Jefferies Group LLC set a $52.00 target price on Healthcare Services Group and gave the company a “hold” rating in a research note on Thursday, October 19th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Healthcare Services Group has a consensus rating of “Buy” and an average target price of $54.80.

Healthcare Services Group (HCSG) traded down $0.18 during mid-day trading on Friday, hitting $50.85. The company had a trading volume of 467,107 shares, compared to its average volume of 340,669. The company has a market capitalization of $3,730.00, a P/E ratio of 42.04, a P/E/G ratio of 3.66 and a beta of 0.64. Healthcare Services Group has a 12-month low of $37.54 and a 12-month high of $55.68.

Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings data on Tuesday, October 17th. The business services provider reported $0.31 earnings per share for the quarter, meeting the consensus estimate of $0.31. The firm had revenue of $491.40 million during the quarter, compared to the consensus estimate of $485.53 million. Healthcare Services Group had a return on equity of 24.17% and a net margin of 5.00%. The firm’s quarterly revenue was up 25.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.27 earnings per share. sell-side analysts forecast that Healthcare Services Group will post 1.24 EPS for the current fiscal year.

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In related news, insider Michael E. Mcbryan sold 22,500 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $53.03, for a total value of $1,193,175.00. Following the sale, the insider now owns 14,413 shares in the company, valued at $764,321.39. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John Briggs sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $50.75, for a total value of $126,875.00. Following the completion of the transaction, the director now directly owns 18,579 shares of the company’s stock, valued at $942,884.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,800 shares of company stock worth $1,362,450. 4.30% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Healthcare Services Group by 9.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,700 shares of the business services provider’s stock valued at $126,000 after acquiring an additional 242 shares during the period. LS Investment Advisors LLC lifted its holdings in Healthcare Services Group by 4.0% in the second quarter. LS Investment Advisors LLC now owns 2,834 shares of the business services provider’s stock valued at $133,000 after acquiring an additional 108 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in Healthcare Services Group by 4.7% in the second quarter. Public Employees Retirement System of Ohio now owns 3,005 shares of the business services provider’s stock valued at $141,000 after acquiring an additional 135 shares during the period. Bruderman Asset Management LLC acquired a new position in Healthcare Services Group in the second quarter valued at approximately $170,000. Finally, ETRADE Capital Management LLC acquired a new position in Healthcare Services Group in the third quarter valued at approximately $202,000. 92.25% of the stock is owned by institutional investors.

Healthcare Services Group Company Profile

Healthcare Services Group, Inc provides management, administrative and operating services to the housekeeping, laundry, linen, facility maintenance and dietary service departments of the healthcare industry, including nursing homes, retirement complexes, rehabilitation centers and hospitals located throughout the United States.

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