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

StockNews.com downgraded shares of Healthcare Services Group (NASDAQ:HCSG) from a buy rating to a hold rating in a research note published on Wednesday.

A number of other brokerages also recently issued reports on HCSG. Macquarie started coverage on Healthcare Services Group in a research report on Monday, December 16th. They set a “neutral” rating and a $13.00 price target on the stock. Robert W. Baird dropped their price target on Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, October 24th. Finally, Benchmark reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Healthcare Services Group in a research report on Thursday, December 19th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Healthcare Services Group has an average rating of “Hold” and an average target price of $13.80.

Healthcare Services Group Trading Down 1.2 %

Shares of NASDAQ:HCSG opened at $11.29 on Wednesday. The company has a market capitalization of $827.44 million, a PE ratio of 16.36 and a beta of 0.56. Healthcare Services Group has a 12-month low of $8.98 and a 12-month high of $13.00. The business’s fifty day simple moving average is $11.86 and its 200-day simple moving average is $11.26.

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

Institutional Investors Weigh In On Healthcare Services Group

Large investors have recently bought and sold shares of the company. GAMMA Investing LLC raised its position in Healthcare Services Group by 100.8% during the 4th quarter. GAMMA Investing LLC now owns 2,137 shares of the business services provider’s stock worth $25,000 after buying an additional 1,073 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of Healthcare Services Group by 1.7% during the third quarter. Tidal Investments LLC now owns 78,218 shares of the business services provider’s stock worth $874,000 after purchasing an additional 1,276 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Healthcare Services Group by 4.8% in the second quarter. The Manufacturers Life Insurance Company now owns 28,368 shares of the business services provider’s stock valued at $300,000 after purchasing an additional 1,311 shares during the last quarter. Confluence Investment Management LLC grew its position in Healthcare Services Group by 1.1% during the 4th quarter. Confluence Investment Management LLC now owns 168,841 shares of the business services provider’s stock worth $1,961,000 after purchasing an additional 1,897 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in shares of Healthcare Services Group by 804.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,730 shares of the business services provider’s stock valued at $30,000 after buying an additional 2,428 shares during the last quarter. 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.