Healthcare Services Group (NASDAQ:HCSG) Stock Rating Upgraded by 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 note issued to investors on Monday,Zacks.com reports.

A number of other brokerages have also recently weighed in on HCSG. Weiss Ratings upgraded Healthcare Services Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. Benchmark lifted their price objective on Healthcare Services Group from $28.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. UBS Group lifted their price objective on Healthcare Services Group from $27.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Wall Street Zen downgraded shares of Healthcare Services Group from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Royal Bank Of Canada upped their target price on shares of Healthcare Services Group from $22.00 to $24.00 and gave the stock a “sector perform” rating in a report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.20.

Healthcare Services Group Stock Down 1.1%

Shares of HCSG opened at $23.15 on Monday. The company has a 50-day moving average price of $22.99 and a two-hundred day moving average price of $21.16. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 13.46 and a beta of 0.81. Healthcare Services Group has a 12 month low of $13.65 and a 12 month high of $25.75.

Healthcare Services Group (NASDAQ:HCSG) last issued its earnings results on Wednesday, July 22nd. The business services provider reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.10. Healthcare Services Group had a return on equity of 18.97% and a net margin of 6.59%.The business had revenue of $470.81 million during the quarter, compared to analysts’ expectations of $471.22 million. During the same period in the prior year, the firm posted ($0.44) EPS. Equities research analysts expect that Healthcare Services Group will post 1.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd bought a new stake in Healthcare Services Group during the 4th quarter worth approximately $33,000. KBC Group NV bought a new position in Healthcare Services Group in the 1st quarter valued at $35,000. EverSource Wealth Advisors LLC raised its position in Healthcare Services Group by 163.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,186 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 1,356 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Healthcare Services Group by 32.0% in the fourth quarter. Farther Finance Advisors LLC now owns 3,619 shares of the business services provider’s stock worth $69,000 after purchasing an additional 877 shares in the last quarter. Finally, OP Asset Management Ltd acquired a new position in Healthcare Services Group in the first quarter worth $168,000. 97.97% of the stock is owned by institutional investors and hedge funds.

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.