Healthcare Services Group, Inc. (NASDAQ:HCSG) Stock Has Consensus Price Target of $26.67

Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) have been assigned a consensus recommendation of “Moderate Buy” from the ten research firms that are covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $26.67.

HCSG has been the topic of several recent research reports. UBS Group upped their price objective on Healthcare Services Group from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Robert W. Baird cut their target price on shares of Healthcare Services Group from $26.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, October 8th. Wall Street Zen cut shares of Healthcare Services Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Weiss Ratings raised shares of Healthcare Services Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, September 25th. Finally, Oppenheimer initiated coverage on shares of Healthcare Services Group in a research report on Wednesday, August 19th. They issued an “outperform” rating and a $28.00 price objective for the company.

Healthcare Services Group Stock Up 1.8%

Shares of HCSG stock opened at $21.50 on Wednesday. Healthcare Services Group has a 52-week low of $16.40 and a 52-week high of $25.75. The stock has a market cap of $1.48 billion, a PE ratio of 12.50 and a beta of 0.81. The business has a 50-day simple moving average of $21.58 and a 200-day simple moving average of $21.83.

Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.10. Healthcare Services Group had a return on equity of 18.97% and a net margin of 6.59%. The company had revenue of $470.81 million during the quarter, compared to the consensus estimate of $471.22 million. During the same period in the previous year, the company posted ($0.44) earnings per share. Sell-side analysts anticipate that Healthcare Services Group will post 1.14 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Andrew Kush sold 15,598 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $23.24, for a total transaction of $362,497.52. Following the sale, the chief operating officer directly owned 22,741 shares in the company, valued at $528,500.84. This trade represents a 40.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Healthcare Services Group

Several institutional investors and hedge funds have recently modified their holdings of HCSG. Nisa Investment Advisors LLC raised its stake in shares of Healthcare Services Group by 52.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 4,981 shares of the business services provider’s stock worth $102,000 after buying an additional 1,722 shares during the period. AMI Asset Management Corp lifted its position in shares of Healthcare Services Group by 48.4% during the 3rd quarter. AMI Asset Management Corp now owns 38,388 shares of the business services provider’s stock valued at $785,000 after buying an additional 12,519 shares in the last quarter. CWA Asset Management Group LLC grew its stake in Healthcare Services Group by 11.6% in the 3rd quarter. CWA Asset Management Group LLC now owns 119,890 shares of the business services provider’s stock valued at $2,452,000 after acquiring an additional 12,484 shares during the period. SummerHaven Investment Management LLC acquired a new stake in Healthcare Services Group in the 3rd quarter valued at $1,484,000. Finally, Kintegral Advisory LLC acquired a new stake in Healthcare Services Group in the 3rd quarter valued at $128,000. Hedge funds and other institutional investors own 97.97% of the company’s stock.

Healthcare Services Group Company Profile

Healthcare Services Group, Inc (NASDAQ:HCSG) provides outsourced support services to healthcare facilities in the United States. Its customers primarily include nursing homes, skilled nursing facilities, continuing care retirement communities, assisted-living facilities and other institutional healthcare providers.

The company’s principal service offerings include housekeeping, laundry and linen services, as well as dining and nutritional services. These services are designed to help healthcare operators manage nonclinical functions, maintain facility standards and support the daily needs of residents and patients.

Healthcare Services Group was founded in 1976 and is headquartered in Bensalem, Pennsylvania.