Healthcare Services Group (NASDAQ:HCSG) Hits New 52-Week High – Should You Buy?

Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) hit a new 52-week high during trading on Thursday . The stock traded as high as $25.55 and last traded at $25.11, with a volume of 547742 shares. The stock had previously closed at $24.56.

Analysts Set New Price Targets

Several research analysts have weighed in on HCSG shares. Wall Street Zen raised shares of Healthcare Services Group from a “hold” rating to a “buy” rating in a report on Sunday, March 29th. Zacks Research upgraded Healthcare Services Group from a “hold” rating to a “strong-buy” rating in a report on Monday, May 4th. UBS Group upped their target price on Healthcare Services Group from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Benchmark increased their target price on Healthcare Services Group from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Healthcare Services Group in a research note on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Healthcare Services Group has an average rating of “Moderate Buy” and an average price target of $24.00.

Healthcare Services Group Price Performance

The business’s 50-day moving average is $21.78 and its 200 day moving average is $20.35. The firm has a market capitalization of $1.72 billion, a P/E ratio of 26.16 and a beta of 0.78.

Healthcare Services Group (NASDAQ:HCSG) last posted its quarterly earnings data on Wednesday, April 22nd. The business services provider reported $0.37 earnings per share (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 firm had revenue of $462.77 million during the quarter, compared to the consensus estimate of $479.79 million. During the same quarter in the previous year, the firm posted $0.23 EPS. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. Analysts anticipate that Healthcare Services Group, Inc. will post 1.01 EPS for the current fiscal year.

Institutional Investors Weigh In On Healthcare Services Group

A number of large investors have recently added to or reduced their stakes in HCSG. 8 Knots Management LLC acquired a new position in Healthcare Services Group in the 3rd quarter valued at $56,527,000. Dimensional Fund Advisors LP grew its holdings in shares of Healthcare Services Group by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,400,681 shares of the business services provider’s stock worth $44,534,000 after purchasing an additional 62,689 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Healthcare Services Group by 80.2% during the 3rd 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 in the last quarter. American Century Companies Inc. increased its position in shares of Healthcare Services Group by 38.1% in the third quarter. American Century Companies Inc. now owns 1,766,601 shares of the business services provider’s stock worth $29,732,000 after purchasing an additional 487,608 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Healthcare Services Group by 12.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,475,369 shares of the business services provider’s stock worth $28,209,000 after purchasing an additional 158,261 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.