Healthcare Services Group (NASDAQ:HCSG) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of Healthcare Services Group (NASDAQ:HCSG) from a hold rating to a strong-buy rating in a research note published on Monday morning,Zacks.com reports.

Several other research analysts also recently commented on the stock. Weiss Ratings raised shares of Healthcare Services Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 28th. Wall Street Zen cut Healthcare Services Group from a “buy” rating to a “hold” rating in a report on Saturday. Royal Bank Of Canada boosted their target price on Healthcare Services Group from $22.00 to $24.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 23rd. BMO Capital Markets increased their price target on Healthcare Services Group from $22.00 to $24.00 and gave the company a “market perform” rating in a research note on Thursday, April 23rd. Finally, Benchmark raised their price target on Healthcare Services Group from $28.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Healthcare Services Group has a consensus rating of “Moderate Buy” and an average target price of $26.20.

Healthcare Services Group Stock Performance

HCSG stock opened at $23.15 on Monday. The company’s fifty day moving average price is $22.99 and its 200-day moving average price is $21.16. Healthcare Services Group has a one year low of $13.65 and a one year high of $25.75. The company has a market capitalization of $1.59 billion, a PE ratio of 13.46 and a beta of 0.81.

Healthcare Services Group (NASDAQ:HCSG) last posted its earnings results on Wednesday, July 22nd. The business services provider reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.10. The company had revenue of $470.81 million during the quarter, compared to analysts’ expectations of $471.22 million. Healthcare Services Group had a net margin of 6.59% and a return on equity of 18.97%. During the same period last year, the company posted ($0.44) earnings per share. On average, research analysts predict that Healthcare Services Group will post 1.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Healthcare Services Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Cetera Investment Advisers increased its holdings in shares of Healthcare Services Group by 4.3% in the 4th quarter. Cetera Investment Advisers now owns 14,052 shares of the business services provider’s stock worth $269,000 after buying an additional 581 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of Healthcare Services Group by 3.8% in the 4th quarter. Sanctuary Advisors LLC now owns 20,151 shares of the business services provider’s stock valued at $385,000 after acquiring an additional 738 shares during the last quarter. Farther Finance Advisors LLC grew its position in Healthcare Services Group by 32.0% in the fourth quarter. Farther Finance Advisors LLC now owns 3,619 shares of the business services provider’s stock worth $69,000 after acquiring an additional 877 shares in the last quarter. LPL Financial LLC grew its position in Healthcare Services Group by 8.2% in the fourth quarter. LPL Financial LLC now owns 11,802 shares of the business services provider’s stock worth $226,000 after acquiring an additional 895 shares in the last quarter. Finally, Legal & General Group Plc grew its position in Healthcare Services Group by 0.5% in the third quarter. Legal & General Group Plc now owns 200,393 shares of the business services provider’s stock worth $3,373,000 after acquiring an additional 970 shares in the last quarter. 97.97% of the stock is owned by hedge funds and other institutional investors.

About Healthcare Services Group

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.