Zacks Investment Research upgraded shares of Healthcare Services Group (NASDAQ:HCSG) from a hold rating to a buy rating in a report issued on Tuesday. They currently have $60.00 target price on the business services provider’s stock.

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 reports about the company. Stifel Nicolaus reissued a buy rating on shares of Healthcare Services Group in a research report on Thursday, October 19th. Jefferies Group set a $52.00 price target on Healthcare Services Group and gave the stock a hold rating in a research report on Thursday, October 19th. BidaskClub raised Healthcare Services Group from a sell rating to a hold rating in a research report on Friday, December 22nd. Finally, Credit Suisse Group reissued an outperform rating and set a $62.00 price target (up from $56.00) on shares of Healthcare Services Group in a research report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $55.20.

Healthcare Services Group (HCSG) opened at $47.99 on Tuesday. The company has a market capitalization of $3,520.00, a P/E ratio of 40.33, a P/E/G ratio of 2.87 and a beta of 0.62. Healthcare Services Group has a 52-week low of $39.75 and a 52-week high of $56.20.

Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings results on Tuesday, February 6th. The business services provider reported $0.27 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.04). The company had revenue of $499.41 million for the quarter, compared to analyst estimates of $499.37 million. Healthcare Services Group had a return on equity of 23.17% and a net margin of 4.73%. The business’s revenue was up 25.3% on a year-over-year basis. During the same period last year, the firm posted $0.28 earnings per share. research analysts anticipate that Healthcare Services Group will post 1.57 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders of record on Friday, February 16th will be given a $0.1913 dividend. This represents a $0.77 dividend on an annualized basis and a dividend yield of 1.59%. This is a positive change from Healthcare Services Group’s previous quarterly dividend of $0.19. The ex-dividend date is Thursday, February 15th. Healthcare Services Group’s dividend payout ratio is presently 63.87%.

Several institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its position in shares of Healthcare Services Group by 2.1% in the 4th quarter. BlackRock Inc. now owns 9,143,357 shares of the business services provider’s stock valued at $482,037,000 after purchasing an additional 191,837 shares in the last quarter. Wasatch Advisors Inc. raised its position in shares of Healthcare Services Group by 143.9% in the 4th quarter. Wasatch Advisors Inc. now owns 3,044,131 shares of the business services provider’s stock valued at $160,487,000 after purchasing an additional 1,795,855 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Healthcare Services Group by 173.5% in the 2nd quarter. Janus Henderson Group PLC now owns 2,085,372 shares of the business services provider’s stock valued at $97,658,000 after purchasing an additional 1,322,948 shares in the last quarter. Brown Advisory Inc. raised its position in shares of Healthcare Services Group by 3.3% in the 3rd quarter. Brown Advisory Inc. now owns 1,957,120 shares of the business services provider’s stock valued at $105,625,000 after purchasing an additional 63,232 shares in the last quarter. Finally, State Street Corp raised its position in shares of Healthcare Services Group by 4.3% in the 2nd quarter. State Street Corp now owns 1,752,352 shares of the business services provider’s stock valued at $82,064,000 after purchasing an additional 71,873 shares in the last quarter. 93.40% of the stock is currently owned by institutional investors.

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About Healthcare Services Group

Healthcare Services Group, Inc provides management, administrative and operating services to the housekeeping, laundry, linen, facility maintenance and dietary service departments of the healthcare industry, including nursing homes, retirement complexes, rehabilitation centers and hospitals located throughout the United States.

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