Healthcare Services Group (NASDAQ:HCSG) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Healthcare Services Group (NASDAQ:HCSG) from a buy rating to a strong-buy rating in a report issued on Saturday morning.

A number of other equities research analysts have also recently commented on the company. BMO Capital Markets started coverage on Healthcare Services Group in a research note on Thursday, November 13th. They issued a “market perform” rating and a $20.00 price objective for the company. UBS Group restated a “buy” rating on shares of Healthcare Services Group in a report on Monday, November 24th. Benchmark lifted their price objective on shares of Healthcare Services Group from $19.00 to $24.00 and gave the company a “buy” rating in a 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, Macquarie reissued a “buy” rating on shares of Healthcare Services Group in a report on Wednesday, November 26th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $19.40.

Healthcare Services Group Stock Performance

Shares of HCSG stock opened at $19.31 on Friday. Healthcare Services Group has a fifty-two week low of $9.13 and a fifty-two week high of $20.26. The stock has a 50 day simple moving average of $18.59 and a two-hundred day simple moving average of $16.53. The company has a market cap of $1.36 billion, a P/E ratio of 35.76 and a beta of 0.71.

Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings data on Wednesday, October 22nd. The business services provider reported $0.23 EPS for the quarter, topping the consensus estimate 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 company had revenue of $464.34 million during the quarter, compared to the consensus estimate of $460.36 million. During the same quarter last year, the firm posted $0.19 EPS. The company’s quarterly revenue was up 8.5% on a year-over-year basis. On average, research analysts predict that Healthcare Services Group will post 0.74 earnings per share for the current year.

Institutional Investors Weigh In On Healthcare Services Group

Several large investors have recently made changes to their positions in the business. Miller Global Investments LLC purchased a new position in shares of Healthcare Services Group in the 4th quarter worth about $26,000. EverSource Wealth Advisors LLC boosted its stake in 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 valued at $33,000 after acquiring an additional 1,356 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Healthcare Services Group by 94.9% during the 3rd quarter. GAMMA Investing LLC now owns 2,843 shares of the business services provider’s stock valued at $48,000 after acquiring an additional 1,384 shares during the period. USA Financial Formulas bought a new position in shares of Healthcare Services Group during the 2nd quarter valued at approximately $60,000. Finally, LSV Asset Management purchased a new stake in shares of Healthcare Services Group during the 3rd quarter worth approximately $108,000. 97.97% of the stock is owned by hedge funds and other institutional investors.

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.