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

Healthcare Services Group (NASDAQ:HCSG) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday, Zacks reports.

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

Healthcare Services Group Trading Up 2.6%

Shares of HCSG stock opened at $24.68 on Wednesday. The stock has a market capitalization of $1.66 billion, a P/E ratio of 16.15 and a beta of 0.81. The firm’s 50 day moving average is $21.94 and its 200 day moving average is $21.36. Healthcare Services Group has a 12 month low of $16.78 and a 12 month high of $25.75.

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

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 on Tuesday, August 4th. The shares were sold at an average price of $23.24, for a total transaction of $362,497.52. Following the completion of the sale, the chief operating officer directly owned 22,741 shares of the company’s stock, valued at approximately $528,500.84. The trade was a 40.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jason J. Bundick sold 18,239 shares of Healthcare Services Group stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $25.11, for a total value of $457,981.29. Following the sale, the executive vice president directly owned 17,125 shares of the company’s stock, valued at approximately $430,008.75. This trade represents a 51.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Healthcare Services Group

A number of large investors have recently modified their holdings of HCSG. Bridge City Capital LLC grew its holdings in shares of Healthcare Services Group by 21.3% during the 3rd quarter. Bridge City Capital LLC now owns 169,640 shares of the business services provider’s stock worth $3,469,000 after acquiring an additional 29,788 shares during the period. State of Wyoming boosted its stake in Healthcare Services Group by 22.0% in the 3rd quarter. State of Wyoming now owns 18,148 shares of the business services provider’s stock worth $371,000 after purchasing an additional 3,276 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al grew its holdings in shares of Healthcare Services Group by 11.1% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 24,100 shares of the business services provider’s stock valued at $493,000 after buying an additional 2,400 shares during the last quarter. Sterling Capital Management LLC increased its holdings in shares of Healthcare Services Group by 6.5% in the 3rd quarter. Sterling Capital Management LLC now owns 16,358 shares of the business services provider’s stock worth $335,000 after purchasing an additional 1,002 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in Healthcare Services Group by 52.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 4,981 shares of the business services provider’s stock valued at $102,000 after acquiring an additional 1,722 shares during the period. Institutional investors own 97.97% of the company’s stock.

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.