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

Healthcare Services Group, Inc. (NASDAQ:HCSG) has earned a consensus recommendation of “Hold” from the five research firms that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $13.80.

A number of analysts have weighed in on the company. Robert W. Baird cut their price target on Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, October 24th. Benchmark reissued a “buy” rating and set a $17.00 target price on shares of Healthcare Services Group in a research report on Thursday, December 19th. Macquarie initiated coverage on Healthcare Services Group in a research note on Monday, December 16th. They set a “neutral” rating and a $13.00 target price for the company. Finally, StockNews.com lowered shares of Healthcare Services Group from a “buy” rating to a “hold” rating in a research note on Saturday, December 14th.

Hedge Funds Weigh In On Healthcare Services Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cerity Partners LLC purchased a new stake in shares of Healthcare Services Group in the third quarter valued at approximately $9,166,000. Foundry Partners LLC grew its stake in Healthcare Services Group by 86.5% in the 3rd quarter. Foundry Partners LLC now owns 807,031 shares of the business services provider’s stock valued at $9,015,000 after acquiring an additional 374,301 shares during the last quarter. Royce & Associates LP increased its holdings in Healthcare Services Group by 7.0% during the 3rd quarter. Royce & Associates LP now owns 4,449,496 shares of the business services provider’s stock valued at $49,701,000 after acquiring an additional 290,621 shares in the last quarter. Invenomic Capital Management LP acquired a new position in Healthcare Services Group during the third quarter worth about $3,217,000. Finally, State Street Corp lifted its holdings in shares of Healthcare Services Group by 8.3% in the third quarter. State Street Corp now owns 2,964,325 shares of the business services provider’s stock valued at $33,112,000 after purchasing an additional 226,818 shares in the last quarter. Institutional investors and hedge funds own 97.97% of the company’s stock.

Healthcare Services Group Stock Performance

HCSG stock opened at $11.81 on Friday. The company’s 50 day moving average price is $11.88 and its 200 day moving average price is $11.19. The firm has a market capitalization of $865.57 million, a price-to-earnings ratio of 17.12 and a beta of 0.56. Healthcare Services Group has a fifty-two week low of $8.98 and a fifty-two week high of $13.00.

Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. The company had revenue of $428.10 million for the quarter, compared to the consensus estimate of $429.95 million. Healthcare Services Group had a net margin of 2.95% and a return on equity of 12.59%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.17 EPS. Equities analysts forecast that Healthcare Services Group will post 0.81 EPS for the current fiscal year.

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.