Healthcare Services Group (NASDAQ:HCSG) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Healthcare Services Group (NASDAQ:HCSG) from a buy rating to a hold rating in a research report released on Saturday morning.

HCSG has been the subject of a number of other research reports. Benchmark restated a “buy” rating and issued a $17.00 price objective on shares of Healthcare Services Group in a research note on Thursday, October 24th. Robert W. Baird reduced their price target on shares of Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $13.80.

Healthcare Services Group Price Performance

Shares of HCSG stock opened at $12.37 on Friday. The firm has a 50-day moving average of $11.53 and a 200-day moving average of $11.05. Healthcare Services Group has a one year low of $8.98 and a one year high of $13.00. The company has a market cap of $906.61 million, a P/E ratio of 17.93 and a beta of 0.55.

Healthcare Services Group (NASDAQ:HCSG) last posted its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $0.19 EPS for the quarter, beating the consensus estimate of $0.16 by $0.03. The firm had revenue of $428.10 million during the quarter, compared to analyst estimates of $429.95 million. Healthcare Services Group had a net margin of 2.95% and a return on equity of 12.59%. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter last year, the business posted $0.17 EPS. As a group, research analysts expect that Healthcare Services Group will post 0.81 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Farther Finance Advisors LLC increased its holdings in Healthcare Services Group by 804.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,730 shares of the business services provider’s stock worth $30,000 after acquiring an additional 2,428 shares during the last quarter. Headlands Technologies LLC increased its stake in shares of Healthcare Services Group by 44.4% in the second quarter. Headlands Technologies LLC now owns 3,107 shares of the business services provider’s stock worth $33,000 after purchasing an additional 955 shares in the last quarter. Financial Management Professionals Inc. increased its stake in shares of Healthcare Services Group by 85.7% in the third quarter. Financial Management Professionals Inc. now owns 8,180 shares of the business services provider’s stock worth $91,000 after purchasing an additional 3,774 shares in the last quarter. Bleakley Financial Group LLC bought a new stake in shares of Healthcare Services Group in the third quarter valued at approximately $116,000. Finally, Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Healthcare Services Group during the 2nd quarter valued at approximately $124,000. Hedge funds and other institutional investors 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.