Healthcare Services Group (NASDAQ:HCSG) Stock Crosses Above Two Hundred Day Moving Average – Should You Sell?

Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $19.78 and traded as high as $20.68. Healthcare Services Group shares last traded at $20.37, with a volume of 516,765 shares.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on HCSG shares. Zacks Research upgraded shares of Healthcare Services Group from a “hold” rating to a “strong-buy” rating in a report on Monday, May 4th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Healthcare Services Group in a report on Tuesday. Benchmark raised their price objective on shares of Healthcare Services Group from $28.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. William Blair upgraded shares of Healthcare Services Group from a “market perform” rating to an “outperform” rating in a report on Friday, February 20th. Finally, Wall Street Zen upgraded shares of Healthcare Services Group from a “hold” rating to a “buy” rating in a report on Sunday, March 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.00.

Healthcare Services Group Trading Down 0.4%

The company has a market cap of $1.40 billion, a price-to-earnings ratio of 21.22 and a beta of 0.82. The firm’s 50-day moving average price is $20.35 and its 200 day moving average price is $19.78.

Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings data on Wednesday, April 22nd. The business services provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.22 by $0.15. The company had revenue of $462.77 million during the quarter, compared to the consensus estimate of $479.79 million. Healthcare Services Group had a net margin of 3.67% and a return on equity of 17.81%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.23 EPS. Analysts forecast that Healthcare Services Group, Inc. will post 1.01 earnings per share for the current fiscal year.

Institutional Trading of Healthcare Services Group

Several hedge funds have recently bought and sold shares of HCSG. Miller Global Investments LLC acquired a new stake in Healthcare Services Group in the 4th quarter valued at $26,000. EverSource Wealth Advisors LLC grew its position in Healthcare Services Group by 163.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,186 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 1,356 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in Healthcare Services Group in the 4th quarter valued at $33,000. KBC Group NV acquired a new stake in Healthcare Services Group in the 1st quarter valued at $35,000. Finally, Farther Finance Advisors LLC grew its position in Healthcare Services Group by 32.0% in the 4th quarter. Farther Finance Advisors LLC now owns 3,619 shares of the business services provider’s stock valued at $69,000 after purchasing an additional 877 shares during the period. Institutional investors and hedge funds own 97.97% of the company’s stock.

About Healthcare Services Group

Healthcare Services Group, Inc (NASDAQ: HCSG) is a leading provider of support services to healthcare facilities across the United States. The company specializes in environmental services, including housekeeping and sanitation, as well as linen and laundry management. In addition, Healthcare Services Group offers dietary and nutrition services, catering to hospitals, skilled nursing facilities, assisted living communities and other long-term care providers.

Founded as a family-owned business in the late 1970s, the company completed its initial public offering in 1997.