Robert W. Baird Cuts Healthcare Services Group (NASDAQ:HCSG) Price Target to $12.00

Healthcare Services Group (NASDAQ:HCSG) had its target price cut by Robert W. Baird from $14.00 to $12.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

Other equities research analysts have also issued reports about the stock. Benchmark reissued a “buy” rating and set a $17.00 target price on shares of Healthcare Services Group in a report on Thursday, July 25th. Royal Bank of Canada reduced their price objective on shares of Healthcare Services Group from $15.00 to $14.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Healthcare Services Group presently has a consensus rating of “Hold” and an average target price of $14.00.

Healthcare Services Group Stock Performance

Shares of HCSG opened at $10.74 on Thursday. Healthcare Services Group has a 52 week low of $8.94 and a 52 week high of $13.00. The stock has a market capitalization of $788.10 million, a price-to-earnings ratio of 24.98 and a beta of 0.52. The stock has a fifty day moving average of $10.72 and a 200-day moving average of $10.87.

Healthcare Services Group (NASDAQ:HCSG) last posted its earnings results on Wednesday, October 23rd. The business services provider reported $0.19 EPS for the quarter, beating the consensus estimate of $0.16 by $0.03. The firm had revenue of $428.10 million during the quarter, compared to the consensus estimate of $429.95 million. Healthcare Services Group had a return on equity of 12.58% and a net margin of 1.82%. The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period last year, the company earned $0.17 earnings per share. As a group, equities analysts forecast that Healthcare Services Group will post 0.78 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Healthcare Services Group by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 8,629,517 shares of the business services provider’s stock worth $89,488,000 after buying an additional 167,779 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Healthcare Services Group by 38.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,186 shares of the business services provider’s stock worth $64,000 after acquiring an additional 1,714 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Healthcare Services Group in the 1st quarter valued at about $344,000. Financial Management Professionals Inc. bought a new stake in shares of Healthcare Services Group during the 1st quarter valued at about $55,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Healthcare Services Group by 2,692.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 979,748 shares of the business services provider’s stock worth $13,178,000 after purchasing an additional 944,658 shares during the period. 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.