Healthcare Services Group (NASDAQ:HCSG) Upgraded at Wall Street Zen

Healthcare Services Group (NASDAQ:HCSG) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Sunday.

HCSG has been the topic of a number of other research reports. William Blair upgraded shares of Healthcare Services Group from a “market perform” rating to an “outperform” rating in a research note on Friday, February 20th. Weiss Ratings restated a “hold (c+)” rating on shares of Healthcare Services Group in a research report on Monday, December 29th. UBS Group set a $25.00 price target on Healthcare Services Group and gave the company a “buy” rating in a research report on Thursday, February 12th. Benchmark reissued a “buy” rating on shares of Healthcare Services Group in a research note on Thursday, February 12th. Finally, Robert W. Baird set a $23.00 price objective on Healthcare Services Group in a report on Thursday, February 12th. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $22.00.

Healthcare Services Group Stock Down 3.2%

Shares of HCSG opened at $18.49 on Friday. The firm has a 50-day moving average price of $19.99 and a 200 day moving average price of $18.59. The firm has a market capitalization of $1.30 billion, a PE ratio of 22.55 and a beta of 0.73. Healthcare Services Group has a 52-week low of $9.13 and a 52-week high of $22.98.

Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings results on Wednesday, February 11th. The business services provider reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.21. The company had revenue of $466.68 million for the quarter, compared to the consensus estimate of $467.24 million. Healthcare Services Group had a net margin of 3.21% and a return on equity of 16.04%. Healthcare Services Group’s revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.16 EPS. On average, equities analysts expect that Healthcare Services Group will post 0.74 EPS for the current year.

Insider Buying and Selling

In other Healthcare Services Group news, EVP John Christopher Shea sold 54,357 shares of Healthcare Services Group stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $20.41, for a total value of $1,109,426.37. Following the transaction, the executive vice president owned 29,292 shares in the company, valued at approximately $597,849.72. The trade was a 64.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Patrick J. Orr sold 44,615 shares of Healthcare Services Group stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $20.53, for a total transaction of $915,945.95. The SEC filing for this sale provides additional information. Insiders have sold 146,962 shares of company stock worth $3,014,100 in the last ninety days. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Healthcare Services Group

A number of institutional investors and hedge funds have recently modified their holdings of HCSG. 8 Knots Management LLC bought a new stake in shares of Healthcare Services Group during the 3rd quarter worth $56,527,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Healthcare Services Group by 240.1% in the 2nd 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. raised its position in shares of Healthcare Services Group by 80.2% during the third quarter. Ameriprise Financial Inc. now owns 1,981,840 shares of the business services provider’s stock worth $33,354,000 after purchasing an additional 882,213 shares during the period. American Century Companies Inc. raised its position in shares of Healthcare Services Group by 183.0% during the second quarter. American Century Companies Inc. now owns 1,278,993 shares of the business services provider’s stock worth $19,223,000 after purchasing an additional 827,057 shares during the period. Finally, Qube Research & Technologies Ltd lifted its holdings in shares of Healthcare Services Group by 1,116.3% during the second quarter. Qube Research & Technologies Ltd now owns 448,806 shares of the business services provider’s stock valued at $6,746,000 after purchasing an additional 411,908 shares during the last quarter. Institutional investors and hedge funds own 97.97% of the company’s stock.

About Healthcare Services Group

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.