Healthcare Services Group (NASDAQ:HCSG) Upgraded by StockNews.com to Buy Rating

Healthcare Services Group (NASDAQ:HCSG) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

Other analysts have also issued research reports about the stock. Benchmark reaffirmed a “buy” rating and set a $17.00 target price on shares of Healthcare Services Group in a report on Thursday, October 24th. Robert W. Baird decreased their price target on shares of Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $14.00.

Healthcare Services Group Trading Up 0.6 %

Shares of NASDAQ HCSG traded up $0.07 during mid-day trading on Friday, hitting $12.42. The company had a trading volume of 205,384 shares, compared to its average volume of 488,777. Healthcare Services Group has a 1 year low of $8.98 and a 1 year high of $13.00. The company has a market capitalization of $910.27 million, a price-to-earnings ratio of 18.00 and a beta of 0.55. The stock’s 50-day moving average price is $11.24 and its 200-day moving average price is $10.97.

Healthcare Services Group (NASDAQ:HCSG) last posted its earnings results on Wednesday, October 23rd. The business services provider reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. Healthcare Services Group had a return on equity of 12.59% and a net margin of 2.95%. The business had revenue of $428.10 million during the quarter, compared to analyst estimates of $429.95 million. During the same quarter in the previous year, the firm earned $0.17 EPS. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. As a group, equities research analysts forecast that Healthcare Services Group will post 0.81 earnings per share for the current year.

Institutional Investors Weigh In On Healthcare Services Group

Several hedge funds have recently bought and sold shares of HCSG. Price T Rowe Associates Inc. MD lifted its holdings in shares of Healthcare Services Group by 8.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 39,830 shares of the business services provider’s stock worth $498,000 after acquiring an additional 3,252 shares during the last quarter. CWM LLC lifted its stake in Healthcare Services Group by 26.6% during the second quarter. CWM LLC now owns 15,641 shares of the business services provider’s stock worth $165,000 after purchasing an additional 3,284 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Healthcare Services Group in the 2nd quarter worth about $188,000. Stanley Laman Group Ltd. grew its position in Healthcare Services Group by 1.7% during the second quarter. Stanley Laman Group Ltd. now owns 343,455 shares of the business services provider’s stock valued at $3,634,000 after acquiring an additional 5,816 shares during the last quarter. Finally, Raymond James & Associates raised its stake in shares of Healthcare Services Group by 9.2% during the second quarter. Raymond James & Associates now owns 383,864 shares of the business services provider’s stock worth $4,061,000 after acquiring an additional 32,411 shares in the last quarter. 97.97% of the stock is currently owned by institutional investors.

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 nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.