Healthcare Services Group (NASDAQ:HCSG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday, Zacks.com reports.

According to Zacks, “Healthcare Services Group, Inc. provides housekeeping, laundry, linen, facility maintenance and food services to the health care industry, including nursing homes, retirement complexes, rehabilitation centers and hospitals. Healthcare Services Group has the experience and expertise to meet these needs, making the preferred choice for hospital and senior living clients nationwide. Healthcare Services Group has delivered exceptional housekeeping/laundry and dining/nutrition services to an ever-changing healthcare industry. Healthcare Services provide professional management of ancillary services to a diverse mix of satisfied clients. Flexible and responsive, our people are trained to help you achieve success by delivering innovative solutions, exceptional performance and measurable results. “

Other equities analysts have also issued research reports about the stock. ValuEngine upgraded shares of Zumiez from a “sell” rating to a “hold” rating in a research report on Saturday, June 22nd. Robert W. Baird lowered their price objective on shares of 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. Stephens set a $71.00 target price on shares of Saia and gave the company a “hold” rating in a research note on Thursday, May 2nd. Jefferies Financial Group reissued a “hold” rating and issued a $32.00 target price (down previously from $40.00) on shares of Healthcare Services Group in a research note on Friday, July 12th. Finally, Benchmark reissued a “buy” rating on shares of Healthcare Services Group in a research note on Thursday, June 27th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Healthcare Services Group has a consensus rating of “Hold” and a consensus price target of $39.40.

HCSG stock traded down $0.39 during trading on Wednesday, hitting $30.84. 1,291 shares of the company’s stock traded hands, compared to its average volume of 786,408. Healthcare Services Group has a 52 week low of $28.24 and a 52 week high of $48.73. The firm has a fifty day simple moving average of $31.36. The firm has a market capitalization of $2.30 billion, a PE ratio of 27.88, a price-to-earnings-growth ratio of 2.43 and a beta of 0.76.

Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings data 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). Healthcare Services Group had a net margin of 4.67% and a return on equity of 21.65%. The business had revenue of $476.11 million for the quarter, compared to the consensus estimate of $489.64 million. The company’s quarterly revenue was down 4.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Healthcare Services Group will post 1.16 earnings per share for the current year.

In related news, Director Robert L. Frome sold 7,502 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $32.64, for a total value of $244,865.28. Following the transaction, the director now owns 18,407 shares of the company’s stock, valued at approximately $600,804.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.00% of the company’s stock.

Institutional investors have recently modified their holdings of the business. First Trust Advisors LP bought a new stake in shares of Healthcare Services Group in the 1st quarter valued at about $29,635,000. Norges Bank acquired a new stake in Healthcare Services Group in the 4th quarter worth approximately $26,517,000. Giverny Capital Inc. boosted its stake in Healthcare Services Group by 3,000.9% in the 1st quarter. Giverny Capital Inc. now owns 287,334 shares of the business services provider’s stock worth $9,479,000 after purchasing an additional 278,068 shares in the last quarter. Fenimore Asset Management Inc. acquired a new stake in Healthcare Services Group in the 2nd quarter worth approximately $6,815,000. Finally, Elk Creek Partners LLC boosted its stake in Healthcare Services Group by 34.3% in the 1st quarter. Elk Creek Partners LLC now owns 622,953 shares of the business services provider’s stock worth $20,551,000 after purchasing an additional 159,160 shares in the last quarter.

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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