Healthcare Services Group, Inc. (NASDAQ:HCSG) Given Average Rating of “Hold” by Brokerages

Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) have received an average rating of “Hold” from the nine ratings firms that are presently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $24.00.

Several research analysts recently commented on HCSG shares. Wall Street Zen raised Healthcare Services Group from a “hold” rating to a “buy” rating in a research note on Sunday, March 29th. UBS Group lifted their price objective on Healthcare Services Group from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Healthcare Services Group in a research report on Tuesday, June 2nd. Benchmark upped their target price on shares of 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, Zacks Research cut shares of Healthcare Services Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 30th.

Healthcare Services Group Price Performance

Shares of HCSG stock opened at $25.15 on Monday. Healthcare Services Group has a 52 week low of $12.66 and a 52 week high of $25.55. The stock has a market capitalization of $1.73 billion, a PE ratio of 26.20 and a beta of 0.78. The firm has a 50 day moving average of $21.94 and a two-hundred day moving average of $20.44.

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 for the quarter, topping analysts’ consensus estimates of $0.22 by $0.15. Healthcare Services Group had a return on equity of 17.81% and a net margin of 3.67%.The business had revenue of $462.77 million for the quarter, compared to analyst estimates of $479.79 million. During the same quarter in the prior year, the company earned $0.23 earnings per share. The company’s revenue was up 3.4% on a year-over-year basis. Analysts expect that Healthcare Services Group will post 1.01 EPS for the current fiscal year.

Institutional Investors Weigh In On Healthcare Services Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Janus Henderson Group PLC lifted its position in shares of Healthcare Services Group by 5.5% during the 1st quarter. Janus Henderson Group PLC now owns 890,035 shares of the business services provider’s stock worth $16,510,000 after purchasing an additional 46,427 shares during the last quarter. California State Teachers Retirement System raised its stake in Healthcare Services Group by 35.1% in the first quarter. California State Teachers Retirement System now owns 91,270 shares of the business services provider’s stock valued at $1,693,000 after buying an additional 23,700 shares in the last quarter. Royal Bank of Canada raised its stake in Healthcare Services Group by 33.1% in the first quarter. Royal Bank of Canada now owns 393,601 shares of the business services provider’s stock valued at $7,301,000 after buying an additional 97,833 shares in the last quarter. Empowered Funds LLC lifted its holdings in Healthcare Services Group by 123.6% during the 1st quarter. Empowered Funds LLC now owns 215,824 shares of the business services provider’s stock worth $4,004,000 after buying an additional 119,290 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Healthcare Services Group by 40.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 29,711 shares of the business services provider’s stock worth $551,000 after buying an additional 8,604 shares during the last quarter. 97.97% of the stock is currently 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.