StockNews.com Upgrades Healthcare Services Group (NASDAQ:HCSG) to “Buy”

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

Other equities research analysts have also issued research reports about the company. Robert W. Baird reduced their target price 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 restated a “buy” rating and issued a $17.00 price objective on shares of Healthcare Services Group in a research report on Thursday, December 19th. Finally, Macquarie began coverage on Healthcare Services Group in a research report on Monday, December 16th. They set a “neutral” rating and a $13.00 price objective for the company. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Healthcare Services Group presently has an average rating of “Moderate Buy” and a consensus price target of $13.80.

Healthcare Services Group Trading Down 0.9 %

Shares of HCSG opened at $11.09 on Friday. Healthcare Services Group has a 12-month low of $8.98 and a 12-month high of $13.00. The stock has a market cap of $812.79 million, a P/E ratio of 16.07 and a beta of 0.56. The company has a 50-day moving average of $11.84 and a two-hundred day moving average of $11.27.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in HCSG. Royce & Associates LP increased its stake in Healthcare Services Group by 7.0% in the third quarter. Royce & Associates LP now owns 4,449,496 shares of the business services provider’s stock valued at $49,701,000 after purchasing an additional 290,621 shares during the last quarter. State Street Corp increased its stake in shares of Healthcare Services Group by 8.3% during the 3rd quarter. State Street Corp now owns 2,964,325 shares of the business services provider’s stock valued at $33,112,000 after acquiring an additional 226,818 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Healthcare Services Group by 9.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,057,202 shares of the business services provider’s stock valued at $21,766,000 after acquiring an additional 181,231 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Healthcare Services Group by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,760,971 shares of the business services provider’s stock worth $19,674,000 after acquiring an additional 50,375 shares during the period. Finally, Cerity Partners LLC acquired a new stake in shares of Healthcare Services Group in the third quarter worth approximately $9,166,000. Hedge funds and other institutional investors 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.