Healthcare Services Group, Inc. (NASDAQ:HCSG) Given Average Recommendation of “Hold” by Brokerages

Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) have earned a consensus recommendation of “Hold” from the nine ratings firms that are presently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $24.50.

Several brokerages have issued reports on HCSG. Weiss Ratings reissued a “hold (c+)” rating on shares of Healthcare Services Group in a research note on Tuesday, June 2nd. Zacks Research lowered shares of Healthcare Services Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Benchmark boosted their target price on shares of Healthcare Services Group from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. UBS Group increased their target price on shares of Healthcare Services Group from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Wall Street Zen upgraded shares of Healthcare Services Group from a “hold” rating to a “buy” rating in a report on Sunday, March 29th.

Institutional Trading of Healthcare Services Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Miller Global Investments LLC bought a new position in Healthcare Services Group in the fourth quarter worth approximately $26,000. EverSource Wealth Advisors LLC increased its holdings in shares of 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 acquiring an additional 1,356 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Healthcare Services Group during the fourth quarter valued at approximately $33,000. KBC Group NV acquired a new position in shares of Healthcare Services Group during the first quarter worth approximately $35,000. Finally, Farther Finance Advisors LLC raised its position in shares of Healthcare Services Group by 32.0% during the fourth quarter. Farther Finance Advisors LLC now owns 3,619 shares of the business services provider’s stock worth $69,000 after purchasing an additional 877 shares during the period. 97.97% of the stock is owned by institutional investors.

Healthcare Services Group Stock Down 1.4%

Shares of HCSG opened at $23.79 on Monday. Healthcare Services Group has a 12-month low of $12.66 and a 12-month high of $25.75. The stock’s fifty day simple moving average is $22.18 and its 200-day simple moving average is $20.60. The firm has a market capitalization of $1.63 billion, a PE ratio of 24.78 and a beta of 0.78.

Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings data on Wednesday, April 22nd. The business services provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $462.77 million for the quarter, compared to the consensus estimate of $479.79 million. During the same period in the previous year, the business earned $0.23 EPS. The firm’s revenue was up 3.4% compared to the same quarter last year. Analysts anticipate that Healthcare Services Group will post 1.01 EPS 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.