Healthcare Services Group (HCSG) Downgraded to “Sell” at BidaskClub

BidaskClub lowered shares of Healthcare Services Group (NASDAQ:HCSG) from a hold rating to a sell rating in a report issued on Thursday.

Several other research firms have also issued reports on HCSG. Robert W. Baird reissued a buy rating and set a $52.00 target price on shares of Healthcare Services Group in a research note on Wednesday, October 4th. Jefferies Group reissued a hold rating and set a $49.00 target price on shares of Healthcare Services Group in a research note on Friday, September 29th. Credit Suisse Group reaffirmed an outperform rating and issued a $62.00 price target (up previously from $56.00) on shares of Healthcare Services Group in a research report on Friday, November 3rd. Zacks Investment Research lowered Healthcare Services Group from a buy rating to a hold rating in a research report on Friday, October 20th. Finally, Stifel Nicolaus reaffirmed a buy rating on shares of Healthcare Services Group in a research report on Thursday, October 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $54.80.

Shares of Healthcare Services Group (HCSG) traded up $0.24 on Thursday, hitting $51.23. The company had a trading volume of 265,900 shares, compared to its average volume of 348,667. Healthcare Services Group has a 52-week low of $37.54 and a 52-week high of $55.68. The stock has a market capitalization of $3,753.78, a PE ratio of 43.05, a price-to-earnings-growth ratio of 3.75 and a beta of 0.62.

Healthcare Services Group (NASDAQ:HCSG) last issued its earnings results on Tuesday, October 17th. The business services provider reported $0.31 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.31. The company had revenue of $491.40 million during the quarter, compared to analysts’ expectations of $485.53 million. Healthcare Services Group had a return on equity of 24.17% and a net margin of 5.00%. The firm’s quarterly revenue was up 25.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.27 EPS. equities analysts predict that Healthcare Services Group will post 1.24 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, November 17th will be given a $0.19 dividend. The ex-dividend date is Thursday, November 16th. This represents a $0.76 dividend on an annualized basis and a yield of 1.48%. This is a positive change from Healthcare Services Group’s previous quarterly dividend of $0.19. Healthcare Services Group’s dividend payout ratio (DPR) is currently 63.87%.

In other Healthcare Services Group news, EVP Michael E. Mcbryan sold 800 shares of Healthcare Services Group stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $53.00, for a total value of $42,400.00. Following the transaction, the executive vice president now directly owns 14,413 shares in the company, valued at approximately $763,889. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael E. Mcbryan sold 22,500 shares of Healthcare Services Group stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $53.03, for a total value of $1,193,175.00. Following the completion of the transaction, the insider now owns 14,413 shares in the company, valued at $764,321.39. The disclosure for this sale can be found here. 4.30% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in HCSG. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Healthcare Services Group by 9.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,700 shares of the business services provider’s stock valued at $126,000 after buying an additional 242 shares during the period. LS Investment Advisors LLC lifted its holdings in shares of Healthcare Services Group by 4.0% in the 2nd quarter. LS Investment Advisors LLC now owns 2,834 shares of the business services provider’s stock valued at $133,000 after buying an additional 108 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in shares of Healthcare Services Group by 4.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,005 shares of the business services provider’s stock valued at $141,000 after buying an additional 135 shares during the period. Bruderman Asset Management LLC acquired a new stake in shares of Healthcare Services Group in the 2nd quarter valued at approximately $170,000. Finally, ETRADE Capital Management LLC acquired a new stake in shares of Healthcare Services Group in the 3rd quarter valued at approximately $202,000. Institutional investors own 93.16% of the company’s stock.

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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 of the healthcare industry, including nursing homes, retirement complexes, rehabilitation centers and hospitals located throughout the United States.

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