Healthcare Services Group, Inc. (NASDAQ:HCSG) Receives Average Recommendation of “Hold” from Brokerages

Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) have been given a consensus rating of “Hold” by the seven brokerages that are presently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $19.40.

A number of analysts recently issued reports on the company. Wall Street Zen raised Healthcare Services Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 10th. BMO Capital Markets started coverage on Healthcare Services Group in a research note on Thursday, November 13th. They issued a “market perform” rating and a $20.00 price objective for the company. Benchmark increased their price objective on Healthcare Services Group from $19.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Healthcare Services Group in a report on Monday, December 29th. Finally, UBS Group reiterated a “buy” rating on shares of Healthcare Services Group in a research report on Monday, November 24th.

Healthcare Services Group Trading Down 1.2%

HCSG stock opened at $19.09 on Monday. Healthcare Services Group has a twelve month low of $9.13 and a twelve month high of $20.26. The company’s 50 day moving average is $18.74 and its two-hundred day moving average is $16.67. The stock has a market cap of $1.35 billion, a P/E ratio of 35.35 and a beta of 0.71.

Healthcare Services Group (NASDAQ:HCSG) last issued its earnings results on Wednesday, October 22nd. The business services provider reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.02. The business had revenue of $464.34 million during the quarter, compared to analysts’ expectations of $460.36 million. Healthcare Services Group had a net margin of 2.20% and a return on equity of 12.23%. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.19 EPS. On average, equities research analysts predict that Healthcare Services Group will post 0.74 earnings per share for the current year.

Institutional Trading of Healthcare Services Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC grew its stake in shares of Healthcare Services Group by 1.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 350,812 shares of the business services provider’s stock worth $6,708,000 after purchasing an additional 5,480 shares during the period. Hennion & Walsh Asset Management Inc. boosted its holdings in Healthcare Services Group by 14.8% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 38,912 shares of the business services provider’s stock worth $744,000 after buying an additional 5,009 shares in the last quarter. SG Americas Securities LLC grew its position in Healthcare Services Group by 298.1% during the fourth quarter. SG Americas Securities LLC now owns 43,739 shares of the business services provider’s stock worth $836,000 after buying an additional 32,752 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in Healthcare Services Group by 44.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 24,557 shares of the business services provider’s stock valued at $463,000 after buying an additional 7,507 shares in the last quarter. Finally, CWA Asset Management Group LLC increased its holdings in Healthcare Services Group by 2.9% in the fourth quarter. CWA Asset Management Group LLC now owns 84,353 shares of the business services provider’s stock valued at $1,613,000 after buying an additional 2,397 shares in the last quarter. 97.97% of the stock is owned by hedge funds and other institutional investors.

About Healthcare Services Group

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.