Healthcare Services Group, Inc. (NASDAQ:HCSG) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) have earned an average recommendation of “Moderate Buy” from the eight analysts that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $26.20.

Several research firms recently issued reports on HCSG. Wall Street Zen downgraded Healthcare Services Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. BMO Capital Markets lifted their target price on Healthcare Services Group from $22.00 to $24.00 and gave the stock a “market perform” rating in a report on Thursday, April 23rd. Benchmark upped their price target on shares of Healthcare Services Group from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Zacks Research raised shares of Healthcare Services Group from a “hold” rating to a “strong-buy” rating in a research report on Monday. Finally, Royal Bank Of Canada boosted their price objective on shares of Healthcare Services Group from $22.00 to $24.00 and gave the company a “sector perform” rating in a report on Thursday, April 23rd.

Insider Activity

In related news, COO Andrew Kush sold 15,598 shares of the stock in a transaction that occurred on 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 owned 22,741 shares of the company’s stock, valued at $528,500.84. This represents a 40.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 2.90% of the company’s stock.

Institutional Trading of Healthcare Services Group

Institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp acquired a new stake in shares of Healthcare Services Group during the 2nd quarter worth $10,438,000. State of Wyoming acquired a new position in Healthcare Services Group in the second quarter valued at about $365,000. Janus Henderson Group PLC lifted its position in Healthcare Services Group by 5.5% during the first quarter. Janus Henderson Group PLC now owns 890,035 shares of the business services provider’s stock worth $16,510,000 after purchasing an additional 46,427 shares during the period. California State Teachers Retirement System lifted its position in Healthcare Services Group by 35.1% during the first quarter. California State Teachers Retirement System now owns 91,270 shares of the business services provider’s stock worth $1,693,000 after purchasing an additional 23,700 shares during the period. Finally, Royal Bank of Canada grew its stake in Healthcare Services Group by 33.1% during the first quarter. Royal Bank of Canada now owns 393,601 shares of the business services provider’s stock worth $7,301,000 after buying an additional 97,833 shares in the last quarter. 97.97% of the stock is currently owned by institutional investors.

Healthcare Services Group Stock Down 3.5%

Healthcare Services Group stock opened at $22.05 on Friday. The stock has a market cap of $1.51 billion, a P/E ratio of 12.82 and a beta of 0.81. Healthcare Services Group has a twelve month low of $13.69 and a twelve month high of $25.75. The company’s 50-day moving average price is $23.06 and its two-hundred day moving average price is $21.20.

Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $0.32 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $471.22 million. During the same quarter in the previous year, the company posted ($0.44) earnings per share. Equities analysts anticipate that Healthcare Services Group will post 1.1 earnings per share for the current fiscal 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.