Healthcare Services Group (NASDAQ:HCSG) Downgraded by Wall Street Zen to Buy

Healthcare Services Group (NASDAQ:HCSG) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Friday.

HCSG has been the subject of a number of other research reports. Zacks Research downgraded shares of Healthcare Services Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 30th. UBS Group reiterated a “buy” rating on shares of Healthcare Services Group in a report on Monday, November 24th. Benchmark lifted their price objective on Healthcare Services Group from $19.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Healthcare Services Group in a research report on Monday, December 29th. Finally, BMO Capital Markets assumed coverage on Healthcare Services Group in a research note on Thursday, November 13th. They set a “market perform” rating and a $20.00 price target for the company. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $19.40.

Healthcare Services Group Trading Down 0.5%

NASDAQ:HCSG traded down $0.10 on Friday, hitting $18.91. 435,424 shares of the company’s stock traded hands, compared to its average volume of 583,884. The company has a market cap of $1.33 billion, a PE ratio of 35.02 and a beta of 0.71. Healthcare Services Group has a 1 year low of $9.13 and a 1 year high of $20.26. The firm has a 50-day moving average price of $18.88 and a 200-day moving average price of $16.80.

Healthcare Services Group (NASDAQ:HCSG) last posted its quarterly earnings results on Wednesday, October 22nd. The business services provider reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. Healthcare Services Group had a net margin of 2.20% and a return on equity of 12.23%. The business had revenue of $464.34 million during the quarter, compared to analyst estimates of $460.36 million. During the same period in the prior year, the firm earned $0.19 earnings per share. The firm’s revenue was up 8.5% compared to the same quarter last year. On average, research analysts forecast that Healthcare Services Group will post 0.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Miller Global Investments LLC bought a new position in shares of Healthcare Services Group in the 4th quarter valued at approximately $26,000. EverSource Wealth Advisors LLC grew its holdings in Healthcare Services Group by 163.4% during the second quarter. EverSource Wealth Advisors LLC now owns 2,186 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 1,356 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Healthcare Services Group by 94.9% in the third quarter. GAMMA Investing LLC now owns 2,843 shares of the business services provider’s stock valued at $48,000 after purchasing an additional 1,384 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of 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 buying an additional 877 shares during the last quarter. Finally, USA Financial Formulas acquired a new stake in shares of Healthcare Services Group in the second quarter worth $60,000. Institutional investors and hedge funds own 97.97% of the company’s stock.

Healthcare Services Group Company Profile

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.