Healthcare Services Group, Inc. (NASDAQ:HCSG) Receives Average Rating of “Hold” from Analysts

Healthcare Services Group, Inc. (NASDAQ:HCSG) has been assigned an average recommendation of “Hold” from the seven research firms that are covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $19.40.

Several brokerages have recently weighed in on HCSG. Macquarie reissued a “buy” rating on shares of Healthcare Services Group in a research report on Wednesday, November 26th. Benchmark raised their price objective on shares of Healthcare Services Group from $19.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Wall Street Zen downgraded shares of Healthcare Services Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 23rd. BMO Capital Markets started coverage on shares of Healthcare Services Group in a research report on Thursday, November 13th. They issued a “market perform” rating and a $20.00 target price on the stock. Finally, UBS Group reiterated a “buy” rating on shares of Healthcare Services Group in a research note on Monday, November 24th.

Healthcare Services Group Trading Up 0.9%

Shares of HCSG stock opened at $19.48 on Friday. The company has a market cap of $1.37 billion, a P/E ratio of 36.07 and a beta of 0.74. The firm has a fifty day moving average price of $19.06 and a 200 day moving average price of $17.14. Healthcare Services Group has a 12 month low of $9.13 and a 12 month high of $20.26.

Institutional Trading of Healthcare Services Group

A number of large investors have recently made changes to their positions in HCSG. 8 Knots Management LLC acquired a new position in Healthcare Services Group during the third quarter worth approximately $56,527,000. Arrowstreet Capital Limited Partnership grew its position in shares of Healthcare Services Group by 240.1% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,496,835 shares of the business services provider’s stock worth $22,497,000 after acquiring an additional 1,056,705 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Healthcare Services Group by 80.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,981,840 shares of the business services provider’s stock valued at $33,354,000 after acquiring an additional 882,213 shares during the period. American Century Companies Inc. raised its position in Healthcare Services Group by 183.0% in the 2nd quarter. American Century Companies Inc. now owns 1,278,993 shares of the business services provider’s stock valued at $19,223,000 after purchasing an additional 827,057 shares during the last quarter. Finally, CSM Advisors LLC acquired a new stake in Healthcare Services Group during the 2nd quarter worth $8,864,000. 97.97% of the stock is owned by institutional investors and hedge funds.

Healthcare Services Group Company Profile

Healthcare Services Group, Inc (NASDAQ: HCSG) is a leading provider of support services to healthcare facilities across the United States. The company specializes in environmental services, including housekeeping and sanitation, as well as linen and laundry management. In addition, Healthcare Services Group offers dietary and nutrition services, catering to hospitals, skilled nursing facilities, assisted living communities and other long-term care providers.

Founded as a family-owned business in the late 1970s, the company completed its initial public offering in 1997.