Healthcare Services Group (NASDAQ:HCSG) Rating Increased to Buy at StockNews.com

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

Several other brokerages have also commented on HCSG. Robert W. Baird dropped their price target on Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, October 24th. Benchmark reiterated a “buy” rating and set a $17.00 target price on shares of Healthcare Services Group in a report on Thursday, December 19th. Finally, Macquarie started coverage on shares of Healthcare Services Group in a report on Monday, December 16th. They issued a “neutral” rating and a $13.00 price target on the stock. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Healthcare Services Group presently has an average rating of “Moderate Buy” and an average price target of $13.80.

Healthcare Services Group Stock Up 1.0 %

Shares of HCSG stock traded up $0.12 during trading hours on Tuesday, hitting $11.68. 239,174 shares of the company were exchanged, compared to its average volume of 380,359. The firm has a fifty day moving average of $11.91 and a 200 day moving average of $11.22. Healthcare Services Group has a 1 year low of $8.98 and a 1 year high of $13.00. The firm has a market cap of $856.04 million, a PE ratio of 16.93 and a beta of 0.56.

Healthcare Services Group (NASDAQ:HCSG) last posted its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. Healthcare Services Group had a net margin of 2.95% and a return on equity of 12.59%. The company had revenue of $428.10 million for the quarter, compared to the consensus estimate of $429.95 million. During the same quarter last year, the firm posted $0.17 earnings per share. Healthcare Services Group’s revenue was up 4.1% on a year-over-year basis. Analysts expect that Healthcare Services Group will post 0.81 earnings per share for the current year.

Hedge Funds Weigh In On Healthcare Services Group

Institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in shares of Healthcare Services Group by 100.8% during the 4th quarter. GAMMA Investing LLC now owns 2,137 shares of the business services provider’s stock valued at $25,000 after buying an additional 1,073 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in Healthcare Services Group by 804.0% in the third quarter. Farther Finance Advisors LLC now owns 2,730 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 2,428 shares in the last quarter. Headlands Technologies LLC raised its holdings in Healthcare Services Group by 44.4% in the second quarter. Headlands Technologies LLC now owns 3,107 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 955 shares in the last quarter. Financial Management Professionals Inc. boosted its stake in Healthcare Services Group by 85.7% during the 3rd quarter. Financial Management Professionals Inc. now owns 8,180 shares of the business services provider’s stock valued at $91,000 after acquiring an additional 3,774 shares during the last quarter. Finally, Bleakley Financial Group LLC acquired a new position in Healthcare Services Group during the 3rd quarter worth $116,000. Institutional investors and hedge funds own 97.97% of the company’s stock.

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.