Healthcare Services Group (NASDAQ:HCSG) Reaches New 12-Month High – Here’s What Happened

Healthcare Services Group, Inc. (NASDAQ:HCSG) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $14.90 and last traded at $14.55, with a volume of 47009 shares. The stock had previously closed at $14.27.

Analysts Set New Price Targets

HCSG has been the topic of a number of analyst reports. Robert W. Baird lifted their target price on shares of Healthcare Services Group from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Thursday, April 24th. UBS Group upgraded Healthcare Services Group from a “neutral” rating to a “buy” rating and lifted their target price for the company from $12.00 to $15.00 in a research report on Thursday, April 24th. Macquarie increased their price target on Healthcare Services Group from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Monday, April 28th. Finally, StockNews.com raised Healthcare Services Group from a “hold” rating to a “buy” rating in a research report on Friday, April 25th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $14.80.

Healthcare Services Group Stock Up 1.9%

The business’s fifty day moving average price is $11.22 and its 200 day moving average price is $11.40. The firm has a market capitalization of $1.06 billion, a PE ratio of 26.94 and a beta of 0.55.

Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings data on Wednesday, April 23rd. The business services provider reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.05. Healthcare Services Group had a return on equity of 11.76% and a net margin of 2.30%. The firm had revenue of $447.66 million during the quarter, compared to the consensus estimate of $443.82 million. During the same period last year, the business posted $0.22 EPS. Healthcare Services Group’s quarterly revenue was up 5.7% on a year-over-year basis. On average, analysts anticipate that Healthcare Services Group, Inc. will post 0.74 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in HCSG. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Healthcare Services Group by 54.7% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 181,169 shares of the business services provider’s stock valued at $1,826,000 after buying an additional 64,042 shares during the period. National Bank of Canada FI lifted its position in shares of Healthcare Services Group by 13.3% in the 1st quarter. National Bank of Canada FI now owns 28,900 shares of the business services provider’s stock worth $291,000 after buying an additional 3,386 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Healthcare Services Group by 8.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 965,843 shares of the business services provider’s stock valued at $9,736,000 after purchasing an additional 74,476 shares during the last quarter. US Bancorp DE raised its position in shares of Healthcare Services Group by 161.4% during the 1st quarter. US Bancorp DE now owns 8,097 shares of the business services provider’s stock worth $82,000 after purchasing an additional 5,000 shares during the period. Finally, XTX Topco Ltd bought a new position in Healthcare Services Group during the 1st quarter worth $591,000. 97.97% of the stock is owned by hedge funds and other institutional investors.

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.