Healthcare Services Group (NASDAQ:HCSG) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Healthcare Services Group (NASDAQ:HCSG) from a hold rating to a buy rating in a report published on Sunday morning.

A number of other equities analysts also recently commented on the stock. Royal Bank Of Canada assumed coverage on shares of Healthcare Services Group in a research note on Tuesday, March 3rd. They set a “sector perform” rating and a $22.00 price objective for the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Healthcare Services Group in a research report on Monday, December 29th. UBS Group set a $25.00 target price on Healthcare Services Group and gave the stock a “buy” rating in a report on Thursday, February 12th. Benchmark restated a “buy” rating on shares of Healthcare Services Group in a research note on Thursday, February 12th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $22.00 price target on shares of Healthcare Services Group in a research report on Thursday, February 12th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $22.00.

Healthcare Services Group Price Performance

NASDAQ HCSG opened at $18.49 on Friday. The firm’s 50 day moving average is $19.99 and its 200-day moving average is $18.61. The company has a market capitalization of $1.30 billion, a PE ratio of 22.55 and a beta of 0.73. Healthcare Services Group has a 12-month low of $9.13 and a 12-month high of $22.98.

Healthcare Services Group (NASDAQ:HCSG) last announced its earnings results on Wednesday, February 11th. The business services provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.23 by $0.21. Healthcare Services Group had a net margin of 3.21% and a return on equity of 16.04%. The business had revenue of $466.68 million during the quarter, compared to analysts’ expectations of $467.24 million. During the same quarter in the prior year, the company posted $0.16 earnings per share. The firm’s revenue was up 6.6% on a year-over-year basis. As a group, sell-side analysts expect that Healthcare Services Group will post 0.74 EPS for the current year.

Insider Transactions at Healthcare Services Group

In related news, EVP John Christopher Shea sold 54,357 shares of Healthcare Services Group stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $20.41, for a total transaction of $1,109,426.37. Following the completion of the transaction, the executive vice president owned 29,292 shares in the company, valued at approximately $597,849.72. This trade represents a 64.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Andrew M. Brophy sold 2,490 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $21.75, for a total value of $54,157.50. Following the transaction, the chief accounting officer directly owned 15,735 shares in the company, valued at approximately $342,236.25. This trade represents a 13.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 146,962 shares of company stock worth $3,014,100 in the last ninety days. Insiders own 2.10% of the company’s stock.

Institutional Trading of Healthcare Services Group

A number of hedge funds have recently made changes to their positions in the business. Cetera Investment Advisers increased its holdings in shares of Healthcare Services Group by 4.3% during the 4th quarter. Cetera Investment Advisers now owns 14,052 shares of the business services provider’s stock worth $269,000 after acquiring an additional 581 shares during the last quarter. Trail Ridge Investment Advisors LLC lifted its holdings in Healthcare Services Group by 2.6% during the 3rd quarter. Trail Ridge Investment Advisors LLC now owns 24,309 shares of the business services provider’s stock valued at $409,000 after purchasing an additional 609 shares during the last quarter. Amalgamated Bank boosted its position in Healthcare Services Group by 3.4% during the third quarter. Amalgamated Bank now owns 21,563 shares of the business services provider’s stock worth $363,000 after purchasing an additional 719 shares during the period. Sanctuary Advisors LLC boosted its position in Healthcare Services Group by 3.8% during the fourth quarter. Sanctuary Advisors LLC now owns 20,151 shares of the business services provider’s stock worth $385,000 after purchasing an additional 738 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Healthcare Services Group by 29.7% in the fourth quarter. GAMMA Investing LLC now owns 3,688 shares of the business services provider’s stock valued at $71,000 after purchasing an additional 845 shares during the last quarter. 97.97% of the stock is 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.