Healthcare Services Group (NASDAQ:HCSG) Stock Rating Lowered by StockNews.com

Healthcare Services Group (NASDAQ:HCSG) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

HCSG has been the subject of several other research reports. Macquarie started coverage on Healthcare Services Group in a report on Monday, December 16th. They set a “neutral” rating and a $13.00 price target for the company. Robert W. Baird lowered their target price on shares of Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, October 24th. Finally, Benchmark reissued a “buy” rating and set a $17.00 price target on shares of Healthcare Services Group in a research report on Thursday, December 19th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Healthcare Services Group currently has an average rating of “Hold” and a consensus target price of $14.00.

Healthcare Services Group Stock Performance

HCSG stock opened at $10.78 on Wednesday. The company has a market capitalization of $792.22 million, a P/E ratio of 19.96 and a beta of 0.56. The company has a fifty day moving average price of $11.39 and a 200-day moving average price of $11.22. Healthcare Services Group has a 52-week low of $9.70 and a 52-week high of $13.00.

Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings results on Wednesday, February 12th. The business services provider reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.04). Healthcare Services Group had a return on equity of 11.76% and a net margin of 2.30%. As a group, sell-side analysts forecast that Healthcare Services Group will post 0.74 earnings per share for the current fiscal year.

Institutional Trading of Healthcare Services Group

Hedge funds have recently added to or reduced their stakes in the business. Wealthfront Advisers LLC bought a new stake in Healthcare Services Group in the fourth quarter valued at approximately $166,278,000. Vanguard Group Inc. increased its stake in shares of Healthcare Services Group by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 8,276,610 shares of the business services provider’s stock worth $96,133,000 after buying an additional 23,373 shares during the period. Royce & Associates LP raised its holdings in Healthcare Services Group by 4.9% during the 4th quarter. Royce & Associates LP now owns 4,668,599 shares of the business services provider’s stock valued at $54,226,000 after buying an additional 219,103 shares during the last quarter. State Street Corp boosted its position in Healthcare Services Group by 8.3% during the 3rd quarter. State Street Corp now owns 2,964,325 shares of the business services provider’s stock valued at $33,112,000 after buying an additional 226,818 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Healthcare Services Group by 9.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,523,745 shares of the business services provider’s stock worth $29,313,000 after acquiring an additional 208,810 shares during the last quarter. 97.97% of the stock is owned by institutional investors.

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 nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.