Healthcare Services Group (NASDAQ:HCSG) Stock Rating Upgraded by Wall Street Zen

Healthcare Services Group (NASDAQ:HCSG) was upgraded by investment analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

Several other analysts have also recently weighed in on the stock. Macquarie reaffirmed a “buy” rating on shares of Healthcare Services Group in a research note on Wednesday, November 26th. BMO Capital Markets initiated coverage on Healthcare Services Group in a report on Thursday, November 13th. They issued a “market perform” rating and a $20.00 target price on the stock. Benchmark raised their price target on Healthcare Services Group from $19.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Zacks Research lowered Healthcare Services Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 30th. Finally, UBS Group restated a “buy” rating on shares of Healthcare Services Group in a report on Monday, November 24th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $19.40.

Healthcare Services Group Stock Performance

NASDAQ HCSG opened at $19.31 on Friday. The stock has a 50-day simple moving average of $18.59 and a 200 day simple moving average of $16.54. Healthcare Services Group has a twelve month low of $9.13 and a twelve month high of $20.26. The stock has a market capitalization of $1.36 billion, a PE ratio of 35.76 and a beta of 0.71.

Healthcare Services Group (NASDAQ:HCSG) last announced its earnings results on Wednesday, October 22nd. The business services provider reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. Healthcare Services Group had a net margin of 2.20% and a return on equity of 12.23%. The business had revenue of $464.34 million for the quarter, compared to analyst estimates of $460.36 million. During the same quarter in the previous year, the firm posted $0.19 earnings per share. Healthcare Services Group’s revenue was up 8.5% compared to the same quarter last year. As a group, equities research analysts forecast that Healthcare Services Group will post 0.74 EPS for the current fiscal year.

Hedge Funds Weigh In On Healthcare Services Group

Several institutional investors have recently modified their holdings of HCSG. SG Americas Securities LLC increased its position in shares of Healthcare Services Group by 298.1% during the fourth quarter. SG Americas Securities LLC now owns 43,739 shares of the business services provider’s stock worth $836,000 after acquiring an additional 32,752 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Healthcare Services Group by 44.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 24,557 shares of the business services provider’s stock worth $463,000 after purchasing an additional 7,507 shares during the period. CWA Asset Management Group LLC boosted its stake in Healthcare Services Group by 2.9% in the 4th quarter. CWA Asset Management Group LLC now owns 84,353 shares of the business services provider’s stock worth $1,613,000 after purchasing an additional 2,397 shares during the period. Miller Global Investments LLC bought a new position in Healthcare Services Group during the 4th quarter worth about $26,000. Finally, GAMMA Investing LLC raised its stake in shares of Healthcare Services Group by 29.7% in the 4th quarter. GAMMA Investing LLC now owns 3,688 shares of the business services provider’s stock valued at $71,000 after purchasing an additional 845 shares during the period. 97.97% of the stock is currently owned by institutional investors and hedge funds.

About Healthcare Services Group

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.