Jefferies Financial Group Reaffirms Hold Rating for Healthcare Services Group (NASDAQ:HCSG)

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Healthcare Services Group (NASDAQ:HCSG)‘s stock had its “hold” rating reaffirmed by Jefferies Financial Group in a note issued to investors on Friday, Marketbeat reports. They currently have a $32.00 price objective on the business services provider’s stock, down from their previous price objective of $40.00. Jefferies Financial Group’s price objective would suggest a potential upside of 5.30% from the company’s previous close.

Several other brokerages also recently issued reports on HCSG. Stephens set a $71.00 price objective on Saia and gave the stock a “hold” rating in a research report on Thursday, May 2nd. TheStreet upgraded Tupperware Brands from a “d+” rating to a “c” rating in a research report on Friday, March 15th. BidaskClub downgraded Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, June 26th. Robert W. Baird reduced their price objective on Healthcare Services Group from $39.00 to $33.00 and set a “neutral” rating for the company in a research report on Tuesday, March 19th. Finally, ValuEngine upgraded Zumiez from a “sell” rating to a “hold” rating in a research report on Saturday, June 22nd. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $38.67.

NASDAQ:HCSG opened at $30.39 on Friday. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of 27.13, a PEG ratio of 2.41 and a beta of 0.76. The company’s 50 day moving average is $31.54. Healthcare Services Group has a 52 week low of $28.24 and a 52 week high of $48.73.

Healthcare Services Group (NASDAQ:HCSG) last posted its earnings results on Tuesday, April 30th. The business services provider reported $0.12 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.24). The company had revenue of $476.11 million for the quarter, compared to the consensus estimate of $489.64 million. Healthcare Services Group had a net margin of 4.67% and a return on equity of 21.65%. The firm’s revenue was down 4.9% compared to the same quarter last year. On average, equities research analysts predict that Healthcare Services Group will post 1.16 earnings per share for the current fiscal year.

In other news, Director Robert L. Frome sold 7,502 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $32.64, for a total transaction of $244,865.28. Following the completion of the transaction, the director now directly owns 18,407 shares in the company, valued at $600,804.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.00% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Icon Wealth Partners LLC acquired a new stake in Healthcare Services Group in the first quarter worth approximately $45,000. Bronfman E.L. Rothschild L.P. lifted its position in Healthcare Services Group by 43.6% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 1,512 shares of the business services provider’s stock worth $61,000 after purchasing an additional 459 shares during the period. Ropes Wealth Advisors LLC lifted its position in Healthcare Services Group by 419.2% in the first quarter. Ropes Wealth Advisors LLC now owns 2,700 shares of the business services provider’s stock worth $89,000 after purchasing an additional 2,180 shares during the period. Quantamental Technologies LLC lifted its position in Healthcare Services Group by 402.6% in the first quarter. Quantamental Technologies LLC now owns 2,900 shares of the business services provider’s stock worth $96,000 after purchasing an additional 2,323 shares during the period. Finally, Osborn Williams & Donohoe LLC acquired a new stake in Healthcare Services Group in the first quarter worth approximately $112,000.

Healthcare Services Group Company Profile

Healthcare Services Group, Inc provides management, administrative, and operating services to the housekeeping, laundry, linen, facility maintenance, and dietary service departments of nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.

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Analyst Recommendations for Healthcare Services Group (NASDAQ:HCSG)

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