Healthcare Services Group, Inc. (NASDAQ:HCSG) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) have received an average rating of “Moderate Buy” from the nine analysts that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $26.50.

Several brokerages recently weighed in on HCSG. UBS Group increased their price objective on Healthcare Services Group from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Weiss Ratings downgraded Healthcare Services Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, September 9th. Oppenheimer started coverage on Healthcare Services Group in a research note on Wednesday, August 19th. They issued an “outperform” rating and a $28.00 price target on the stock. Zacks Research upgraded Healthcare Services Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. Finally, Wall Street Zen downgraded Healthcare Services Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st.

Insiders Place Their Bets

In other Healthcare Services Group news, COO Andrew Kush sold 15,598 shares of the stock in a transaction dated 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 transaction, the chief operating officer owned 22,741 shares of the company’s stock, valued at $528,500.84. This trade represents a 40.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Healthcare Services Group

Large investors have recently made changes to their positions in the stock. WINTON GROUP Ltd increased its holdings in Healthcare Services Group by 6.2% in the 2nd quarter. WINTON GROUP Ltd now owns 66,948 shares of the business services provider’s stock valued at $1,644,000 after purchasing an additional 3,904 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Healthcare Services Group in the second quarter valued at approximately $160,000. Nykredit A S acquired a new position in Healthcare Services Group during the second quarter worth $28,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Healthcare Services Group during the second quarter worth $533,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Healthcare Services Group during the second quarter worth $66,000. 97.97% of the stock is currently owned by institutional investors and hedge funds.

Healthcare Services Group Price Performance

NASDAQ:HCSG opened at $21.47 on Friday. The company’s 50-day moving average is $22.62 and its two-hundred day moving average is $21.63. Healthcare Services Group has a 1-year low of $15.13 and a 1-year high of $25.75. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 12.48 and a beta of 0.80.

Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly 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. The business had revenue of $470.81 million during the quarter, compared to the consensus estimate of $471.22 million. Healthcare Services Group had a net margin of 6.59% and a return on equity of 18.97%. During the same quarter last year, the firm earned ($0.44) EPS. As a group, equities analysts anticipate that Healthcare Services Group will post 1.14 earnings per share for the current fiscal year.

Healthcare Services Group Company Profile

Healthcare Services Group, Inc (NASDAQ:HCSG) provides outsourced support services to healthcare and senior living facilities across the United States. Its primary customers include nursing homes, post-acute care centers, hospitals, assisted living communities and other healthcare-related facilities.

The company operates through two principal service areas. Its environmental services business provides housekeeping, laundry and linen management, waste handling and related services. Its dietary services business supports food procurement, meal preparation, dining operations and nutrition-related programs for residents and patients.

Healthcare Services Group was founded in 1976 and has historically focused on helping healthcare providers manage nonclinical operations through contract-based services.