Healthcare Services Group, Inc. (NASDAQ:HCSG) Stock Has Consensus Price Target of $26.67 According to Analysts

Healthcare Services Group, Inc. (NASDAQ:HCSG) has been assigned an average rating of “Moderate Buy” from the ten research firms that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $26.67.

Several analysts have weighed in on HCSG shares. Robert W. Baird cut their target price on Healthcare Services Group from $26.00 to $24.00 and set a “neutral” rating on the stock in a research note on Thursday, October 8th. Wall Street Zen cut Healthcare Services Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. 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 for the company. Weiss Ratings raised Healthcare Services Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, September 25th. Finally, Zacks Research raised Healthcare Services Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 28th.

Insiders Place Their Bets

In related news, EVP Jason J. Bundick sold 18,239 shares of the stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $25.11, for a total value of $457,981.29. Following the completion of the transaction, the executive vice president owned 17,125 shares in the company, valued at $430,008.75. This represents a 51.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 2.90% of the stock is owned by insiders.

Institutional Trading of Healthcare Services Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Nykredit A S acquired a new stake in shares of Healthcare Services Group in the 2nd quarter worth approximately $28,000. KBC Group NV bought a new position in shares of Healthcare Services Group in the first quarter valued at approximately $35,000. Allworth Financial LP bought a new position in shares of Healthcare Services Group in the second quarter valued at approximately $55,000. Public Employees Retirement System of Ohio acquired a new position in shares of Healthcare Services Group during the second quarter valued at approximately $66,000. Finally, Nisa Investment Advisors LLC increased its stake in shares of Healthcare Services Group by 52.8% during the third quarter. Nisa Investment Advisors LLC now owns 4,981 shares of the business services provider’s stock valued at $102,000 after acquiring an additional 1,722 shares during the period. 97.97% of the stock is currently owned by institutional investors.

Healthcare Services Group Trading Down 3.3%

HCSG opened at $24.28 on Friday. The business’s 50 day moving average is $22.23 and its 200-day moving average is $21.54. The stock has a market cap of $1.64 billion, a PE ratio of 16.30 and a beta of 0.92. Healthcare Services Group has a twelve month low of $16.78 and a twelve month high of $27.05.

Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings data on Wednesday, October 21st. The business services provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.12. Healthcare Services Group had a return on equity of 20.22% and a net margin of 5.58%. The business had revenue of $479.60 million during the quarter, compared to analyst estimates of $480.80 million. During the same period in the prior year, the company posted $0.59 EPS. As a group, analysts forecast that Healthcare Services Group will post 1.32 EPS for the current year.

About Healthcare Services Group

Healthcare Services Group, Inc (NASDAQ:HCSG) provides outsourced support services to healthcare facilities in the United States. Its customers primarily include nursing homes, skilled nursing facilities, continuing care retirement communities, assisted-living facilities and other institutional healthcare providers.

The company’s principal service offerings include housekeeping, laundry and linen services, as well as dining and nutritional services. These services are designed to help healthcare operators manage nonclinical functions, maintain facility standards and support the daily needs of residents and patients.

Healthcare Services Group was founded in 1976 and is headquartered in Bensalem, Pennsylvania.