Healthcare Services Group (NASDAQ:HCSG) Stock Crosses Above Two Hundred Day Moving Average – Should You Sell?

Healthcare Services Group, Inc. (NASDAQ:HCSG)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $19.78 and traded as high as $20.68. Healthcare Services Group shares last traded at $20.37, with a volume of 516,765 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have commented on HCSG. BMO Capital Markets upped their price objective on shares of Healthcare Services Group from $22.00 to $24.00 and gave the company a “market perform” rating in a report on Thursday, April 23rd. UBS Group upped their price objective on shares of Healthcare Services Group from $25.00 to $27.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Zacks Research upgraded shares of Healthcare Services Group from a “hold” rating to a “strong-buy” rating in a report on Monday, May 4th. Benchmark upped their price objective on shares of Healthcare Services Group from $28.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Finally, Wall Street Zen upgraded shares of Healthcare Services Group from a “hold” rating to a “buy” rating in a report on Sunday, March 29th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Healthcare Services Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

Healthcare Services Group Stock Down 0.4%

The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 21.22 and a beta of 0.82. The business’s 50 day simple moving average is $20.35 and its 200-day simple moving average is $19.78.

Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings data on Wednesday, April 22nd. The business services provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.15. The firm had revenue of $462.77 million for the quarter, compared to the consensus estimate of $479.79 million. Healthcare Services Group had a net margin of 3.67% and a return on equity of 17.81%. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.23 earnings per share. On average, analysts expect that Healthcare Services Group, Inc. will post 1.01 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Miller Global Investments LLC bought a new position in shares of Healthcare Services Group in the fourth quarter worth about $26,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Healthcare Services Group by 163.4% in the second quarter. EverSource Wealth Advisors LLC now owns 2,186 shares of the business services provider’s stock worth $33,000 after acquiring an additional 1,356 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Healthcare Services Group in the fourth quarter worth about $33,000. KBC Group NV bought a new position in shares of Healthcare Services Group in the first quarter worth about $35,000. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Healthcare Services Group by 32.0% in the fourth quarter. Farther Finance Advisors LLC now owns 3,619 shares of the business services provider’s stock worth $69,000 after acquiring an additional 877 shares during the last quarter. Institutional investors 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.