Healthcare Services Group (NASDAQ:HCSG) Stock Price Expected to Rise, Macquarie Analyst Says

Healthcare Services Group (NASDAQ:HCSG) had its price objective increased by analysts at Macquarie from $13.00 to $15.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the business services provider’s stock. Macquarie’s price objective points to a potential upside of 6.91% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. StockNews.com upgraded shares of Healthcare Services Group from a “hold” rating to a “buy” rating in a research report on Friday, April 25th. Robert W. Baird lifted their price objective on shares of Healthcare Services Group from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Thursday, April 24th. Finally, UBS Group upgraded Healthcare Services Group from a “neutral” rating to a “buy” rating and boosted their price target for the company from $12.00 to $15.00 in a research report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $14.80.

Healthcare Services Group Stock Up 1.7 %

Shares of HCSG opened at $14.03 on Monday. Healthcare Services Group has a fifty-two week low of $9.13 and a fifty-two week high of $14.17. The company has a market cap of $1.02 billion, a P/E ratio of 25.98 and a beta of 0.62. The firm’s 50 day moving average price is $10.58 and its 200 day moving average price is $11.18.

Healthcare Services Group (NASDAQ:HCSG) last posted its earnings results on Wednesday, April 23rd. The business services provider reported $0.23 EPS for the quarter, beating the consensus estimate of $0.18 by $0.05. The firm had revenue of $447.66 million for the quarter, compared to analyst estimates of $443.82 million. Healthcare Services Group had a return on equity of 11.76% and a net margin of 2.30%. Healthcare Services Group’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.22 earnings per share. Research 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 hedge funds and other institutional investors have recently modified their holdings of HCSG. Barclays PLC boosted its position in shares of Healthcare Services Group by 169.3% in the 3rd quarter. Barclays PLC now owns 145,926 shares of the business services provider’s stock worth $1,631,000 after buying an additional 91,733 shares in the last quarter. Tidal Investments LLC grew its position in shares of Healthcare Services Group by 1.7% in the third quarter. Tidal Investments LLC now owns 78,218 shares of the business services provider’s stock valued at $874,000 after purchasing an additional 1,276 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Healthcare Services Group by 39.9% during the 3rd quarter. Franklin Resources Inc. now owns 560,588 shares of the business services provider’s stock worth $5,858,000 after purchasing an additional 159,878 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Healthcare Services Group by 11.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 773,635 shares of the business services provider’s stock worth $8,642,000 after purchasing an additional 76,456 shares during the last quarter. Finally, Confluence Investment Management LLC lifted its stake in Healthcare Services Group by 1.1% in the 4th quarter. Confluence Investment Management LLC now owns 168,841 shares of the business services provider’s stock valued at $1,961,000 after buying an additional 1,897 shares in the last quarter. 97.97% of the stock is currently owned by institutional investors and hedge funds.

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.