Healthcare Services Group, Inc. (HCSG) Cut to Hold at Zacks Investment Research

Healthcare Services Group, Inc. (NASDAQ:HCSG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

According to Zacks, “Healthcare Services Group, Inc. provides housekeeping, laundry, linen, facility maintenance and food services to the health care industry, including nursing homes, retirement complexes, rehabilitation centers and hospitals. “

Several other equities analysts have also issued reports on the stock. BidaskClub raised shares of Healthcare Services Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 19th. Jefferies Group LLC reiterated a “hold” rating and set a $49.00 price objective (up from $41.00) on shares of Healthcare Services Group in a research note on Tuesday, June 6th. Credit Suisse Group assumed coverage on shares of Healthcare Services Group in a research note on Friday, May 19th. They set an “outperform” rating and a $50.00 price objective for the company. Stifel Nicolaus reiterated a “buy” rating and set a $50.00 price objective (up from $48.00) on shares of Healthcare Services Group in a research note on Wednesday, July 12th. Finally, Robert W. Baird boosted their target price on shares of Healthcare Services Group from $47.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, July 12th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $53.00.

Shares of Healthcare Services Group (HCSG) traded down 0.20% on Tuesday, reaching $50.63. The company had a trading volume of 191,886 shares. The stock’s 50 day moving average is $51.55 and its 200 day moving average is $47.25. Healthcare Services Group has a 52 week low of $34.83 and a 52 week high of $54.28. The firm has a market capitalization of $3.71 billion, a price-to-earnings ratio of 44.41 and a beta of 0.63.

Healthcare Services Group (NASDAQ:HCSG) last issued its earnings results on Tuesday, July 11th. The business services provider reported $0.30 EPS for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.01. The business had revenue of $470.90 million for the quarter, compared to analyst estimates of $425.24 million. Healthcare Services Group had a net margin of 5.07% and a return on equity of 24.12%. The company’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same period last year, the company posted $0.26 earnings per share. On average, equities analysts anticipate that Healthcare Services Group will post $1.25 EPS for the current year.

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In other Healthcare Services Group news, CFO John Christopher Shea sold 4,750 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $52.00, for a total value of $247,000.00. Following the completion of the transaction, the chief financial officer now owns 7,157 shares in the company, valued at $372,164. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Michael E. Mcbryan sold 22,500 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $51.82, for a total transaction of $1,165,950.00. Following the completion of the transaction, the insider now owns 32,542 shares of the company’s stock, valued at approximately $1,686,326.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,750 shares of company stock valued at $1,910,345. Insiders own 4.30% of the company’s stock.

Several institutional investors have recently modified their holdings of HCSG. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Healthcare Services Group by 9.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,700 shares of the business services provider’s stock worth $126,000 after acquiring an additional 242 shares during the period. LS Investment Advisors LLC raised its position in shares of Healthcare Services Group by 4.0% in the second quarter. LS Investment Advisors LLC now owns 2,834 shares of the business services provider’s stock worth $133,000 after acquiring an additional 108 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of Healthcare Services Group by 4.7% in the second quarter. Public Employees Retirement System of Ohio now owns 3,005 shares of the business services provider’s stock worth $141,000 after acquiring an additional 135 shares during the period. Bruderman Asset Management LLC acquired a new position in shares of Healthcare Services Group in the second quarter worth about $170,000. Finally, Riverhead Capital Management LLC raised its position in shares of Healthcare Services Group by 69.1% in the second quarter. Riverhead Capital Management LLC now owns 4,059 shares of the business services provider’s stock worth $190,000 after acquiring an additional 1,659 shares during the period. Institutional investors and hedge funds own 91.72% of the company’s stock.

About Healthcare Services Group

Healthcare Services Group, Inc provides management, administrative and operating services to the housekeeping, laundry, linen, facility maintenance and dietary service departments of the healthcare industry, including nursing homes, retirement complexes, rehabilitation centers and hospitals located throughout the United States.

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