Healthcare Services Group (NASDAQ:HCSG) Shares Gap Down – Should You Sell?

Healthcare Services Group, Inc. (NASDAQ:HCSG)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $10.29, but opened at $9.95. Healthcare Services Group shares last traded at $9.89, with a volume of 29,115 shares.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Royal Bank of Canada cut their target price on Healthcare Services Group from $15.00 to $14.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Robert W. Baird increased their price objective on Healthcare Services Group from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Finally, Benchmark reaffirmed a “buy” rating and set a $17.00 target price on shares of Healthcare Services Group in a report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $14.50.

Healthcare Services Group Trading Down 0.6 %

The firm has a market cap of $753.40 million, a PE ratio of 17.89 and a beta of 0.52. The company has a 50-day simple moving average of $10.72 and a 200 day simple moving average of $10.89.

Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings results on Wednesday, July 24th. The business services provider reported $0.20 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.20. Healthcare Services Group had a net margin of 1.82% and a return on equity of 12.58%. The firm had revenue of $426.30 million for the quarter, compared to the consensus estimate of $424.94 million. During the same period in the prior year, the firm posted $0.12 earnings per share. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. On average, equities analysts expect that Healthcare Services Group, Inc. will post 0.78 earnings per share for the current year.

Institutional Investors Weigh In On Healthcare Services Group

A number of institutional investors have recently added to or reduced their stakes in the stock. Hennion & Walsh Asset Management Inc. lifted its holdings in Healthcare Services Group by 62.6% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 19,119 shares of the business services provider’s stock valued at $214,000 after purchasing an additional 7,362 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Healthcare Services Group by 1,017.5% in the 3rd quarter. International Assets Investment Management LLC now owns 10,292 shares of the business services provider’s stock valued at $1,150,000 after buying an additional 9,371 shares in the last quarter. Stanley Laman Group Ltd. boosted its holdings in Healthcare Services Group by 1.2% in the 3rd quarter. Stanley Laman Group Ltd. now owns 347,581 shares of the business services provider’s stock worth $3,882,000 after buying an additional 4,126 shares during the last quarter. Mitsubishi UFJ Asset Management UK Ltd. boosted its holdings in Healthcare Services Group by 54.3% in the 3rd quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 54,000 shares of the business services provider’s stock worth $603,000 after buying an additional 19,000 shares during the last quarter. Finally, Bleakley Financial Group LLC purchased a new stake in Healthcare Services Group during the 3rd quarter worth approximately $116,000. Institutional investors and hedge funds own 97.97% of the company’s stock.

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.