Healthcare Services Group (NASDAQ:HCSG) Stock Rating Raised to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Healthcare Services Group (NASDAQ:HCSG) from a hold rating to a strong-buy rating in a research report sent to investors on Wednesday,Zacks reports.

A number of other analysts have also recently commented on HCSG. UBS Group upped their price objective on shares of Healthcare Services Group from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Wall Street Zen downgraded Healthcare Services Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Oppenheimer started coverage on Healthcare Services Group in a report on Wednesday, August 19th. They set an “outperform” rating and a $28.00 target price on the stock. Robert W. Baird decreased their target price on Healthcare Services Group from $26.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, October 8th. Finally, Weiss Ratings upgraded Healthcare Services Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, September 25th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $26.67.

Healthcare Services Group Trading Up 2.6%

Shares of NASDAQ:HCSG opened at $24.68 on Wednesday. Healthcare Services Group has a 1-year low of $16.78 and a 1-year high of $25.75. The stock has a market capitalization of $1.66 billion, a P/E ratio of 16.56 and a beta of 0.81. The business has a 50-day moving average price of $21.94 and a two-hundred day moving average price of $21.36.

Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings data on Wednesday, October 21st. The business services provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.12. The firm had revenue of $479.60 million for the quarter, compared to analysts’ expectations of $480.80 million. Healthcare Services Group had a net margin of 5.58% and a return on equity of 20.22%. During the same period last year, the firm earned $0.59 earnings per share. As a group, equities analysts predict that Healthcare Services Group will post 1.32 EPS for the current year.

Insider Activity at Healthcare Services Group

In other Healthcare Services Group news, COO Andrew Kush sold 15,598 shares of Healthcare Services Group stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $23.24, for a total value of $362,497.52. Following the transaction, the chief operating officer owned 22,741 shares of the company’s stock, valued at approximately $528,500.84. The trade was 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. Also, EVP Jason J. Bundick sold 18,239 shares of the company’s stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $25.11, for a total transaction of $457,981.29. Following the completion of the transaction, the executive vice president owned 17,125 shares of the company’s stock, valued at $430,008.75. This trade represents a 51.58% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Healthcare Services Group

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Healthcare Services Group in the second quarter valued at $279,379,000. Dimensional Fund Advisors LP increased its stake in Healthcare Services Group by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,400,681 shares of the business services provider’s stock valued at $44,534,000 after buying an additional 62,689 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Healthcare Services Group by 454.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,405,952 shares of the business services provider’s stock worth $26,080,000 after buying an additional 1,152,176 shares in the last quarter. Jupiter Topco LLC bought a new stake in Healthcare Services Group during the 2nd quarter worth about $22,406,000. Finally, Janus Henderson Group PLC lifted its position in Healthcare Services Group by 5.5% during the 1st quarter. Janus Henderson Group PLC now owns 890,035 shares of the business services provider’s stock worth $16,510,000 after buying an additional 46,427 shares in the last quarter. 97.97% of the stock is owned by institutional investors.

About Healthcare Services Group

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.