Healthcare Services Group, Inc. (HCSG) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) from a buy rating to a hold rating in a research report released on Tuesday morning.

According to Zacks, “Healthcare Services Group, Inc. provides housekeeping, laundry, linen, facility maintenance and food services to the health care industry, including nursing homes, retirement complexes, rehabilitation centers and hospitals. “

Several other research firms have also weighed in on HCSG. BidaskClub raised Healthcare Services Group from a buy rating to a strong-buy rating in a research note on Wednesday, July 19th. Credit Suisse Group reiterated an outperform rating and issued a $56.00 target price (up from $50.00) on shares of Healthcare Services Group in a research report on Thursday, July 13th. Jefferies Group LLC reiterated a hold rating and issued a $49.00 target price on shares of Healthcare Services Group in a research report on Tuesday, August 22nd. Robert W. Baird increased their target price on Healthcare Services Group from $47.00 to $52.00 and gave the company an outperform rating in a research report on Wednesday, July 12th. They noted that the move was a valuation call. Finally, Stifel Nicolaus reiterated a buy rating and issued a $50.00 target price (up from $48.00) on shares of Healthcare Services Group in a research report on Wednesday, July 12th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $53.00.

Shares of Healthcare Services Group (HCSG) traded up 0.97% during mid-day trading on Tuesday, reaching $50.95. The company’s stock had a trading volume of 569,903 shares. The firm has a market cap of $3.73 billion, a PE ratio of 44.69 and a beta of 0.63. The company has a 50-day moving average of $51.20 and a 200-day moving average of $47.42. Healthcare Services Group has a 12 month low of $34.83 and a 12 month high of $54.28.

Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings data on Tuesday, July 11th. The business services provider reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.01. The business had revenue of $470.90 million for the quarter, compared to analyst estimates of $425.24 million. Healthcare Services Group had a return on equity of 24.12% and a net margin of 5.07%. Healthcare Services Group’s revenue was up 21.8% compared to the same quarter last year. During the same period last year, the firm posted $0.26 earnings per share. On average, analysts predict that Healthcare Services Group will post $1.25 earnings per share for the current year.

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The company also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, August 18th will be given a $0.1888 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This is an increase from Healthcare Services Group’s previous quarterly dividend of $0.19. This represents a $0.76 annualized dividend and a yield of 1.48%. Healthcare Services Group’s dividend payout ratio (DPR) is currently 65.22%.

In other Healthcare Services Group news, Director John Briggs sold 2,500 shares of the stock in a transaction dated Tuesday, August 29th. The stock was 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 in the company, valued at $942,884.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert L. Frome sold 5,000 shares of the stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $53.00, for a total value of $265,000.00. Following the completion of the transaction, the director now owns 20,501 shares of the company’s stock, valued at $1,086,553. The disclosure for this sale can be found here. Insiders sold 36,750 shares of company stock valued at $1,910,345 over the last quarter. Corporate insiders own 4.30% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Miles Capital Inc. raised its position in Healthcare Services Group by 0.3% in the first quarter. Miles Capital Inc. now owns 6,881 shares of the business services provider’s stock valued at $297,000 after purchasing an additional 20 shares during the last quarter. 1st Global Advisors Inc. raised its position in Healthcare Services Group by 0.5% in the second quarter. 1st Global Advisors Inc. now owns 16,996 shares of the business services provider’s stock valued at $796,000 after purchasing an additional 81 shares during the last quarter. Teacher Retirement System of Texas raised its position in Healthcare Services Group by 1.6% in the second quarter. Teacher Retirement System of Texas now owns 5,809 shares of the business services provider’s stock valued at $272,000 after purchasing an additional 94 shares during the last quarter. Ashford Capital Management Inc. raised its position in shares of Healthcare Services Group by 0.3% during the first quarter. Ashford Capital Management Inc. now owns 28,398 shares of the business services provider’s stock worth $1,224,000 after acquiring an additional 95 shares during the last quarter. Finally, TD Asset Management Inc. raised its position in shares of Healthcare Services Group by 1.0% during the second quarter. TD Asset Management Inc. now owns 10,483 shares of the business services provider’s stock worth $491,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 91.72% of the company’s stock.

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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