Healthcare Services Group (NASDAQ:HCSG) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday.
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. Healthcare Services Group has the experience and expertise to meet these needs, making the preferred choice for hospital and senior living clients nationwide. Healthcare Services Group has delivered exceptional housekeeping/laundry and dining/nutrition services to an ever-changing healthcare industry. Healthcare Services provide professional management of ancillary services to a diverse mix of satisfied clients. Flexible and responsive, our people are trained to help you achieve success by delivering innovative solutions, exceptional performance and measurable results. “
Other equities analysts also recently issued reports about the company. Benchmark started coverage on Healthcare Services Group in a report on Tuesday, June 12th. They issued a “buy” rating and a $50.00 price target for the company. Stifel Nicolaus downgraded Healthcare Services Group from a “buy” rating to a “hold” rating and lowered their price target for the company from $57.00 to $44.00 in a report on Wednesday, April 18th. Jefferies Financial Group set a $40.00 price objective on Healthcare Services Group and gave the company a “hold” rating in a research note on Tuesday, April 17th. Robert W. Baird reduced their price objective on Healthcare Services Group from $50.00 to $48.00 and set a “hold” rating for the company in a research note on Tuesday, April 17th. Finally, William Blair upgraded Healthcare Services Group from a “market perform” rating to an “outperform” rating in a research note on Wednesday, June 6th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $46.33.
Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings results on Tuesday, April 17th. The business services provider reported $0.00 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.38). The business had revenue of $501.81 million during the quarter, compared to analyst estimates of $505.44 million. Healthcare Services Group had a net margin of 3.38% and a return on equity of 16.99%. The business’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same period last year, the company earned $0.30 earnings per share. equities research analysts predict that Healthcare Services Group will post 1.54 EPS for the current fiscal year.
In other Healthcare Services Group news, Director Robert J. Moss sold 3,001 shares of the business’s stock in a transaction that occurred on Wednesday, June 13th. The stock was sold at an average price of $41.61, for a total value of $124,871.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Allianz Asset Management GmbH purchased a new stake in Healthcare Services Group in the first quarter valued at approximately $212,000. WINTON GROUP Ltd purchased a new stake in Healthcare Services Group in the first quarter valued at approximately $602,000. Wesbanco Bank Inc. purchased a new stake in shares of Healthcare Services Group during the first quarter worth approximately $1,155,000. Xact Kapitalforvaltning AB raised its stake in shares of Healthcare Services Group by 78.3% during the first quarter. Xact Kapitalforvaltning AB now owns 12,295 shares of the business services provider’s stock worth $535,000 after purchasing an additional 5,400 shares during the last quarter. Finally, Foundry Partners LLC raised its stake in shares of Healthcare Services Group by 5.3% during the first quarter. Foundry Partners LLC now owns 57,468 shares of the business services provider’s stock worth $2,499,000 after purchasing an additional 2,900 shares during the last quarter. Institutional investors own 97.92% 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 to nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.
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