Analysts Set Healthcare Services Group, Inc. (NASDAQ:HCSG) Target Price at $22.00

Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) have been assigned an average recommendation of “Hold” from the nine ratings firms that are presently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $22.00.

A number of research analysts have recently weighed in on the company. Robert W. Baird set a $23.00 price objective on Healthcare Services Group in a report on Thursday, February 12th. UBS Group set a $25.00 target price on Healthcare Services Group and gave the stock a “buy” rating in a report on Thursday, February 12th. Benchmark reiterated a “buy” rating on shares of Healthcare Services Group in a research report on Thursday, February 12th. Wall Street Zen upgraded shares of Healthcare Services Group from a “hold” rating to a “buy” rating in a report on Sunday. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Healthcare Services Group in a research report on Monday, December 29th.

Healthcare Services Group Price Performance

Shares of HCSG opened at $17.85 on Friday. The company’s fifty day moving average price is $19.96 and its 200-day moving average price is $18.64. Healthcare Services Group has a 1-year low of $9.13 and a 1-year high of $22.98. The firm has a market capitalization of $1.25 billion, a PE ratio of 21.77 and a beta of 0.80.

Healthcare Services Group (NASDAQ:HCSG) last issued its earnings results on Wednesday, February 11th. The business services provider reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.21. Healthcare Services Group had a return on equity of 16.04% and a net margin of 3.21%.The company had revenue of $466.68 million during the quarter, compared to analyst estimates of $467.24 million. During the same quarter last year, the business posted $0.16 EPS. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. As a group, research analysts anticipate that Healthcare Services Group will post 0.74 EPS for the current fiscal year.

Insider Activity

In other news, EVP John Christopher Shea sold 54,357 shares of the stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $20.41, for a total value of $1,109,426.37. Following the sale, the executive vice president owned 29,292 shares in the company, valued at $597,849.72. This represents a 64.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Patrick J. Orr sold 44,615 shares of the firm’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $20.53, for a total transaction of $915,945.95. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 146,962 shares of company stock valued at $3,014,100 in the last ninety days. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Healthcare Services Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Miller Global Investments LLC acquired a new position in shares of Healthcare Services Group in the 4th quarter valued at about $26,000. Caitong International Asset Management Co. Ltd purchased a new position in Healthcare Services Group during the fourth quarter valued at approximately $33,000. EverSource Wealth Advisors LLC lifted its holdings in Healthcare Services Group by 163.4% in the second quarter. EverSource Wealth Advisors LLC now owns 2,186 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 1,356 shares during the period. GAMMA Investing LLC lifted its holdings in Healthcare Services Group by 94.9% in the third quarter. GAMMA Investing LLC now owns 2,843 shares of the business services provider’s stock valued at $48,000 after acquiring an additional 1,384 shares during the period. Finally, Farther Finance Advisors LLC boosted its position in Healthcare Services Group by 32.0% in the 4th quarter. Farther Finance Advisors LLC now owns 3,619 shares of the business services provider’s stock worth $69,000 after purchasing an additional 877 shares in the last quarter. 97.97% of the stock is owned by institutional investors and hedge funds.

Healthcare Services Group Company Profile

Healthcare Services Group, Inc (NASDAQ: HCSG) is a leading provider of support services to healthcare facilities across the United States. The company specializes in environmental services, including housekeeping and sanitation, as well as linen and laundry management. In addition, Healthcare Services Group offers dietary and nutrition services, catering to hospitals, skilled nursing facilities, assisted living communities and other long-term care providers.

Founded as a family-owned business in the late 1970s, the company completed its initial public offering in 1997.