Healthcare Services Group, Inc. (NASDAQ:HCSG) Given Consensus Rating of “Moderate Buy” by Brokerages

Healthcare Services Group, Inc. (NASDAQ:HCSG) has been assigned a consensus rating of “Moderate Buy” from the nine ratings firms that are currently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $24.00.

A number of research firms recently weighed in on HCSG. UBS Group lifted their price target on Healthcare Services Group from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. BMO Capital Markets lifted their price target on Healthcare Services Group from $22.00 to $24.00 and gave the company a “market perform” rating in a research note on Thursday, April 23rd. Royal Bank Of Canada boosted their target price on Healthcare Services Group from $22.00 to $24.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 23rd. Zacks Research upgraded Healthcare Services Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 4th. Finally, William Blair upgraded Healthcare Services Group from a “market perform” rating to an “outperform” rating in a research report on Friday, February 20th.

Healthcare Services Group Stock Performance

Shares of HCSG stock opened at $21.31 on Thursday. The business’s 50 day moving average is $20.49 and its two-hundred day moving average is $19.88. Healthcare Services Group has a twelve month low of $12.66 and a twelve month high of $24.39. The company has a market capitalization of $1.46 billion, a P/E ratio of 22.20 and a beta of 0.82.

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

Institutional Trading of Healthcare Services Group

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Miller Global Investments LLC purchased a new position in Healthcare Services Group during the fourth quarter worth about $26,000. Caitong International Asset Management Co. Ltd purchased a new stake in Healthcare Services Group in the fourth quarter valued at approximately $33,000. KBC Group NV purchased a new stake in Healthcare Services Group in the first quarter valued at approximately $35,000. EverSource Wealth Advisors LLC grew its holdings in Healthcare Services Group by 163.4% in the second 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. Finally, Farther Finance Advisors LLC increased its stake in Healthcare Services Group by 32.0% during the fourth quarter. Farther Finance Advisors LLC now owns 3,619 shares of the business services provider’s stock worth $69,000 after acquiring an additional 877 shares during the last quarter. 97.97% of the stock is currently owned by hedge funds and other institutional investors.

Healthcare Services Group Company Profile

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.