Healthcare Services Group, Inc. (NASDAQ:HCSG) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) have been given an average rating of “Moderate Buy” by the nine analysts that are covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $24.00.

HCSG has been the subject of a number of research analyst reports. Zacks Research upgraded Healthcare Services Group from a “hold” rating to a “strong-buy” rating in a report on Monday, May 4th. UBS Group raised their target price on Healthcare Services Group from $25.00 to $27.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. William Blair upgraded Healthcare Services Group from a “market perform” rating to an “outperform” rating in a report on Friday, February 20th. Weiss Ratings restated a “hold (c+)” rating on shares of Healthcare Services Group in a report on Tuesday, June 2nd. Finally, BMO Capital Markets raised their target price on Healthcare Services Group from $22.00 to $24.00 and gave the company a “market perform” rating in a report on Thursday, April 23rd.

Healthcare Services Group Price Performance

NASDAQ HCSG opened at $21.31 on Thursday. The firm’s 50-day moving average is $20.49 and its two-hundred day moving average is $19.88. Healthcare Services Group has a 12 month low of $12.66 and a 12 month high of $24.39. The stock has a market capitalization of $1.46 billion, a P/E ratio of 22.20 and a beta of 0.82.

Healthcare Services Group (NASDAQ:HCSG) last posted its earnings results on Wednesday, April 22nd. The business services provider reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.15. Healthcare Services Group had a net margin of 3.67% and a return on equity of 17.81%. The company had revenue of $462.77 million for the quarter, compared to analysts’ expectations of $479.79 million. During the same quarter in the prior year, the company posted $0.23 earnings per share. Healthcare Services Group’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, analysts anticipate that Healthcare Services Group will post 1.01 EPS for the current year.

Institutional Investors Weigh In On Healthcare Services Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Miller Global Investments LLC acquired a new stake in shares of Healthcare Services Group during the 4th quarter worth about $26,000. Caitong International Asset Management Co. Ltd acquired a new position in Healthcare Services Group during the fourth quarter worth approximately $33,000. KBC Group NV acquired a new position in Healthcare Services Group during the first quarter worth approximately $35,000. EverSource Wealth Advisors LLC increased its position in Healthcare Services Group by 163.4% during the second quarter. EverSource Wealth Advisors LLC now owns 2,186 shares of the business services provider’s stock worth $33,000 after buying an additional 1,356 shares during the period. Finally, Farther Finance Advisors LLC increased its position in Healthcare Services Group by 32.0% during the fourth quarter. Farther Finance Advisors LLC now owns 3,619 shares of the business services provider’s stock worth $69,000 after buying an additional 877 shares during the period. Institutional investors and hedge funds own 97.97% of the company’s stock.

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.