Healthcare Services Group, Inc. (HCSG) Receives “Buy” Rating from Robert W. Baird

Robert W. Baird reaffirmed their buy rating on shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) in a research report released on Wednesday, October 4th. Robert W. Baird currently has a $52.00 price objective on the business services provider’s stock.

A number of other research firms have also recently commented on HCSG. Jefferies Group LLC restated a hold rating and issued a $49.00 price objective on shares of Healthcare Services Group in a research report on Friday, September 29th. Zacks Investment Research upgraded Healthcare Services Group from a hold rating to a buy rating and set a $58.00 price objective for the company in a research report on Friday, July 14th. BidaskClub upgraded Healthcare Services Group from a buy rating to a strong-buy rating in a research report on Wednesday, July 19th. Credit Suisse Group restated an outperform rating and issued a $56.00 price objective (up from $50.00) on shares of Healthcare Services Group in a research report on Thursday, July 13th. Finally, Stifel Nicolaus restated a buy rating and issued a $50.00 price objective (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 assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Healthcare Services Group has a consensus rating of Buy and a consensus target price of $53.00.

Shares of Healthcare Services Group (NASDAQ:HCSG) opened at 54.45 on Wednesday. Healthcare Services Group has a 12-month low of $34.83 and a 12-month high of $55.68. The stock has a market cap of $3.98 billion, a P/E ratio of 47.76 and a beta of 0.62. The company’s 50-day moving average is $52.68 and its 200-day moving average is $49.14.

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In other news, Director Robert L. Frome sold 5,000 shares of Healthcare Services Group stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $53.00, for a total value of $265,000.00. Following the sale, the director now directly owns 20,501 shares of the company’s stock, valued at $1,086,553. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Briggs sold 2,500 shares of Healthcare Services Group stock in a transaction that occurred on 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 sale, the director now directly owns 18,579 shares in the company, valued at $942,884.25. The disclosure for this sale can be found here. Insiders sold 34,750 shares of company stock worth $1,804,825 over the last ninety days. Corporate insiders own 4.30% of the company’s stock.

Several large investors have recently modified their holdings of the company. Ashford Capital Management Inc. boosted its stake in shares of Healthcare Services Group by 1.2% in the second quarter. Ashford Capital Management Inc. now owns 28,734 shares of the business services provider’s stock worth $1,346,000 after acquiring an additional 336 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Healthcare Services Group in the second quarter worth approximately $348,000. WINTON GROUP Ltd acquired a new position in Healthcare Services Group during the second quarter worth $853,000. Wasatch Advisors Inc. boosted its stake in Healthcare Services Group by 5.5% during the second quarter. Wasatch Advisors Inc. now owns 1,005,535 shares of the business services provider’s stock worth $47,089,000 after buying an additional 52,686 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in Healthcare Services Group by 4.7% during the second quarter. Public Employees Retirement System of Ohio now owns 3,005 shares of the business services provider’s stock worth $141,000 after buying an additional 135 shares during the last quarter. 91.48% of the stock is currently owned by hedge funds and other 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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