Healthcare Services Group (NASDAQ:HCSG) Rating Increased to Buy at UBS Group

Healthcare Services Group (NASDAQ:HCSG) was upgraded by analysts at UBS Group from a “neutral” rating to a “buy” rating in a research note issued on Thursday, MarketBeat Ratings reports. The firm presently has a $15.00 price objective on the business services provider’s stock, up from their prior price objective of $12.00. UBS Group’s price objective indicates a potential upside of 9.73% from the company’s previous close.

Separately, StockNews.com cut shares of Healthcare Services Group from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Healthcare Services Group currently has a consensus rating of “Moderate Buy” and an average target price of $14.40.

Healthcare Services Group Stock Performance

HCSG stock opened at $13.67 on Thursday. Healthcare Services Group has a fifty-two week low of $9.13 and a fifty-two week high of $13.69. The company has a market capitalization of $996.76 million, a price-to-earnings ratio of 25.32 and a beta of 0.62. The business’s 50 day moving average price is $10.45 and its two-hundred day moving average price is $11.12.

Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings results on Wednesday, April 23rd. The business services provider reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.05. The company had revenue of $447.66 million for the quarter, compared to analysts’ expectations of $443.82 million. Healthcare Services Group had a return on equity of 11.76% and a net margin of 2.30%. Sell-side analysts forecast that Healthcare Services Group will post 0.74 earnings per share for the current year.

Institutional Investors Weigh In On Healthcare Services Group

A number of institutional investors have recently modified their holdings of HCSG. GAMMA Investing LLC boosted its stake in Healthcare Services Group by 100.8% in the 4th quarter. GAMMA Investing LLC now owns 2,137 shares of the business services provider’s stock worth $25,000 after purchasing an additional 1,073 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Healthcare Services Group during the 4th quarter valued at about $25,000. Sterling Capital Management LLC raised its holdings in Healthcare Services Group by 803.4% in the fourth quarter. Sterling Capital Management LLC now owns 2,358 shares of the business services provider’s stock worth $27,000 after buying an additional 2,097 shares during the last quarter. Bank of Montreal Can bought a new position in shares of Healthcare Services Group in the fourth quarter worth approximately $118,000. Finally, Ieq Capital LLC bought a new position in shares of Healthcare Services Group in the fourth quarter worth approximately $118,000. 97.97% of the stock is 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 nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.