Healthcare Services Group’s (HCSG) “Buy” Rating Reaffirmed at Benchmark

Benchmark restated their buy rating on shares of Healthcare Services Group (NASDAQ:HCSG) in a report released on Wednesday morning, AnalystRatings.com reports. They currently have a $34.00 price objective on the business services provider’s stock, down from their prior price objective of $37.00.

Several other equities analysts also recently issued reports on the company. BidaskClub upgraded Healthcare Services Group from a sell rating to a hold rating in a research report on Wednesday, September 11th. ValuEngine upgraded Healthcare Services Group from a sell rating to a hold rating in a research report on Wednesday, October 2nd. Zacks Investment Research upgraded Healthcare Services Group from a strong sell rating to a hold rating in a research report on Wednesday, September 25th. Sidoti reduced their price objective on Healthcare Services Group from $51.00 to $43.00 and set a buy rating for the company in a research report on Wednesday, July 24th. Finally, Jefferies Financial Group reiterated a hold rating and set a $32.00 price objective (down from $40.00) on shares of Healthcare Services Group in a research report on Friday, July 12th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $36.00.

Shares of NASDAQ HCSG traded down $0.12 during midday trading on Wednesday, hitting $23.57. 866,000 shares of the company’s stock were exchanged, compared to its average volume of 905,958. The stock’s 50 day moving average price is $24.36 and its 200-day moving average price is $28.44. The firm has a market cap of $1.91 billion, a P/E ratio of 21.04 and a beta of 0.74. Healthcare Services Group has a twelve month low of $21.16 and a twelve month high of $48.73.

Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $0.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.03). The business had revenue of $455.60 million for the quarter, compared to analyst estimates of $451.31 million. Healthcare Services Group had a return on equity of 17.38% and a net margin of 4.09%. The business’s quarterly revenue was down 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.35 earnings per share. As a group, equities research analysts predict that Healthcare Services Group will post 0.93 earnings per share for the current fiscal year.

In other Healthcare Services Group news, Director Robert L. Frome sold 8,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $24.06, for a total value of $204,510.00. Following the completion of the sale, the director now directly owns 9,907 shares in the company, valued at $238,362.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Financial Gravity Wealth Inc. lifted its position in Healthcare Services Group by 1,148.6% in the second quarter. Financial Gravity Wealth Inc. now owns 899 shares of the business services provider’s stock worth $27,000 after purchasing an additional 827 shares during the period. Tompkins Financial Corp acquired a new stake in Healthcare Services Group in the second quarter worth approximately $30,000. Huntington National Bank lifted its position in Healthcare Services Group by 88.8% in the second quarter. Huntington National Bank now owns 1,210 shares of the business services provider’s stock worth $37,000 after purchasing an additional 569 shares during the period. Quadrant Capital Group LLC lifted its position in Healthcare Services Group by 6,935.3% in the third quarter. Quadrant Capital Group LLC now owns 2,392 shares of the business services provider’s stock worth $57,000 after purchasing an additional 2,358 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new stake in Healthcare Services Group in the second quarter worth approximately $71,000.

Healthcare Services Group Company Profile

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.

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Analyst Recommendations for Healthcare Services Group (NASDAQ:HCSG)

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