StockNews.com Downgrades Healthcare Services Group (NASDAQ:HCSG) to Hold

StockNews.com cut shares of Healthcare Services Group (NASDAQ:HCSG) from a buy rating to a hold rating in a report issued on Wednesday.

HCSG has been the topic of a number of other research reports. Benchmark reissued a “buy” rating and issued a $17.00 price target on shares of Healthcare Services Group in a research note on Thursday, December 19th. Macquarie began coverage on shares of 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, Robert W. Baird decreased 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. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $13.80.

Healthcare Services Group Stock Performance

Shares of Healthcare Services Group stock opened at $11.29 on Wednesday. The firm has a 50-day simple moving average of $11.86 and a two-hundred day simple moving average of $11.26. Healthcare Services Group has a fifty-two week low of $8.98 and a fifty-two week high of $13.00. The company has a market cap of $827.44 million, a P/E ratio of 16.36 and a beta of 0.56.

Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $0.19 earnings per share (EPS) for the quarter, topping 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 return on equity of 12.59% and a net margin of 2.95%. Healthcare Services Group’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.17 earnings per share. Equities research analysts forecast that Healthcare Services Group will post 0.81 EPS for the current year.

Hedge Funds Weigh In On Healthcare Services Group

Several hedge funds and other institutional investors have recently modified their holdings of HCSG. GAMMA Investing LLC raised its holdings in Healthcare Services Group by 100.8% in the 4th quarter. GAMMA Investing LLC now owns 2,137 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 1,073 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of 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 purchasing an additional 2,428 shares during the last quarter. Financial Management Professionals Inc. lifted its position in Healthcare Services Group by 85.7% during the third quarter. Financial Management Professionals Inc. now owns 8,180 shares of the business services provider’s stock worth $91,000 after buying an additional 3,774 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Healthcare Services Group by 1,017.5% during the third quarter. International Assets Investment Management LLC now owns 10,292 shares of the business services provider’s stock worth $1,150,000 after buying an additional 9,371 shares during the last quarter. Finally, Bleakley Financial Group LLC purchased a new stake in Healthcare Services Group in the 3rd quarter valued at $116,000. 97.97% of the stock is owned by hedge funds and other institutional investors.

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.