Healthcare Services Group (NASDAQ:HCSG) Stock Rating Upgraded by StockNews.com

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

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

Healthcare Services Group Price Performance

NASDAQ:HCSG opened at $11.74 on Tuesday. The firm has a market capitalization of $860.44 million, a P/E ratio of 17.01 and a beta of 0.56. The business has a 50 day simple moving average of $11.91 and a 200 day simple moving average of $11.23. Healthcare Services Group has a 12-month low of $8.98 and a 12-month high of $13.00.

Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $0.19 EPS for the quarter, topping the consensus estimate 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 business had revenue of $428.10 million during the quarter, compared to analyst estimates of $429.95 million. During the same quarter in the prior year, the firm earned $0.17 earnings per share. The company’s quarterly revenue was up 4.1% on a year-over-year basis. Research analysts anticipate that Healthcare Services Group will post 0.81 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC boosted its stake in Healthcare Services Group by 80.8% during the 3rd quarter. Jane Street Group LLC now owns 175,444 shares of the business services provider’s stock valued at $1,960,000 after purchasing an additional 78,391 shares in the last quarter. Geode Capital Management LLC boosted its stake in Healthcare Services Group by 2.9% during the third quarter. Geode Capital Management LLC now owns 1,760,971 shares of the business services provider’s stock valued at $19,674,000 after buying an additional 50,375 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Healthcare Services Group by 11.0% during the third quarter. JPMorgan Chase & Co. now owns 773,635 shares of the business services provider’s stock valued at $8,642,000 after buying an additional 76,456 shares in the last quarter. Foundry Partners LLC grew its holdings in Healthcare Services Group by 86.5% during the third quarter. Foundry Partners LLC now owns 807,031 shares of the business services provider’s stock worth $9,015,000 after acquiring an additional 374,301 shares during the period. Finally, Franklin Resources Inc. raised its position in Healthcare Services Group by 39.9% in the third quarter. Franklin Resources Inc. now owns 560,588 shares of the business services provider’s stock worth $5,858,000 after acquiring an additional 159,878 shares in the last quarter. Institutional investors and hedge funds own 97.97% of the company’s stock.

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.