Healthcare Services Group, Inc. (NASDAQ:HCSG) Given Consensus Recommendation of “Moderate Buy” by Analysts

Healthcare Services Group, Inc. (NASDAQ:HCSG) has been assigned an average recommendation of “Moderate Buy” from the nine research firms that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $26.50.

HCSG has been the topic of several analyst reports. Oppenheimer initiated coverage on shares of Healthcare Services Group in a research note on Wednesday, August 19th. They set an “outperform” rating and a $28.00 price target on the stock. Zacks Research upgraded Healthcare Services Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 3rd. UBS Group raised their target price on Healthcare Services Group from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Wall Street Zen downgraded Healthcare Services Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Weiss Ratings raised Healthcare Services Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 28th.

Insider Buying and Selling at Healthcare Services Group

In other news, COO Andrew Kush sold 15,598 shares of Healthcare Services Group stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $23.24, for a total transaction of $362,497.52. Following the transaction, the chief operating officer directly owned 22,741 shares of the company’s stock, valued at $528,500.84. The trade was a 40.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Healthcare Services Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HCSG. Nykredit A S purchased a new position in Healthcare Services Group during the second quarter valued at approximately $28,000. EverSource Wealth Advisors LLC increased its stake in shares of 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 worth $33,000 after purchasing an additional 1,356 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Healthcare Services Group in the fourth quarter worth $33,000. KBC Group NV bought a new stake in shares of Healthcare Services Group during the 1st quarter valued at $35,000. Finally, Allworth Financial LP bought a new stake in shares of Healthcare Services Group during the 2nd quarter valued at $55,000. Institutional investors own 97.97% of the company’s stock.

Healthcare Services Group Trading Down 2.0%

HCSG opened at $21.99 on Tuesday. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 12.78 and a beta of 0.81. The company’s 50 day moving average is $23.30 and its 200 day moving average is $21.58. Healthcare Services Group has a 12-month low of $15.13 and a 12-month high of $25.75.

Healthcare Services Group (NASDAQ:HCSG) last announced its earnings results on Wednesday, July 22nd. The business services provider reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.10. Healthcare Services Group had a net margin of 6.59% and a return on equity of 18.97%. The company had revenue of $470.81 million during the quarter, compared to analyst estimates of $471.22 million. During the same period in the previous year, the business posted ($0.44) earnings per share. As a group, analysts predict that Healthcare Services Group will post 1.14 EPS for the current fiscal year.

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.