Healthcare Services Group, Inc. (NASDAQ:HCSG) Given Average Rating of “Moderate Buy” by Brokerages

Healthcare Services Group, Inc. (NASDAQ:HCSG) has been given a consensus rating of “Moderate Buy” by the nine ratings firms that are currently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $24.00.

Several brokerages recently commented on HCSG. Royal Bank Of Canada upped their target price on Healthcare Services Group from $22.00 to $24.00 and gave the company a “sector perform” rating in a report on Thursday, April 23rd. Wall Street Zen raised Healthcare Services Group from a “hold” rating to a “buy” rating in a research note on Sunday, March 29th. BMO Capital Markets boosted 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. Benchmark boosted their price target on Healthcare Services Group from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Finally, Zacks Research raised Healthcare Services Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 4th.

Insider Transactions at Healthcare Services Group

In other Healthcare Services Group news, CAO Andrew M. Brophy sold 2,490 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $21.75, for a total value of $54,157.50. Following the transaction, the chief accounting officer directly owned 15,735 shares of the company’s stock, valued at approximately $342,236.25. The trade was a 13.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Healthcare Services Group

Several institutional investors have recently added to or reduced their stakes in HCSG. Miller Global Investments LLC acquired a new position in Healthcare Services Group in the fourth quarter valued at approximately $26,000. EverSource Wealth Advisors LLC lifted its stake 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 buying an additional 1,356 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in Healthcare Services Group in the fourth quarter valued at approximately $33,000. KBC Group NV acquired a new position in Healthcare Services Group in the first quarter valued at approximately $35,000. Finally, Farther Finance Advisors LLC lifted its stake 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 valued at $69,000 after buying an additional 877 shares during the period. 97.97% of the stock is owned by institutional investors and hedge funds.

Healthcare Services Group Price Performance

Shares of HCSG stock opened at $20.43 on Friday. The business’s 50 day simple moving average is $20.18 and its 200 day simple moving average is $19.59. Healthcare Services Group has a one year low of $12.66 and a one year high of $24.39. The stock has a market capitalization of $1.40 billion, a PE ratio of 21.28 and a beta of 0.85.

Healthcare Services Group (NASDAQ:HCSG) last announced its earnings results on Wednesday, April 22nd. The business services provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.22 by $0.15. Healthcare Services Group had a return on equity of 17.81% and a net margin of 3.67%.The business had revenue of $462.77 million for the quarter, compared to analysts’ expectations of $479.79 million. During the same period in the prior year, the business posted $0.23 earnings per share. The firm’s revenue was up 3.4% on a year-over-year basis. As a group, research analysts expect that Healthcare Services Group will post 1.01 earnings per share for the current year.

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.