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 to clients and investors on Saturday.

Several other research firms have also recently issued reports on HCSG. BMO Capital Markets reaffirmed a “market perform” rating and issued a $22.00 price target on shares of Healthcare Services Group in a report on Thursday. Macquarie Infrastructure restated a “buy” rating on shares of Healthcare Services Group in a research note on Wednesday, November 26th. Robert W. Baird set a $23.00 price target on Healthcare Services Group in a research note on Thursday. UBS Group set a $25.00 price objective on Healthcare Services Group and gave the company a “buy” rating in a report on Thursday. Finally, Benchmark reaffirmed a “buy” rating on shares of Healthcare Services Group in a report on Thursday. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Healthcare Services Group currently has a consensus rating of “Hold” and an average price target of $22.00.

Healthcare Services Group Stock Performance

Shares of HCSG opened at $21.59 on Friday. Healthcare Services Group has a one year low of $9.13 and a one year high of $22.98. The stock has a 50-day moving average price of $19.26 and a 200 day moving average price of $17.49. The company has a market capitalization of $1.52 billion, a P/E ratio of 26.33 and a beta of 0.75.

Healthcare Services Group (NASDAQ:HCSG) last posted its quarterly earnings data on Wednesday, February 11th. The business services provider reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.21. The company had revenue of $466.68 million for the quarter, compared to the consensus estimate of $467.24 million. Healthcare Services Group had a return on equity of 16.04% and a net margin of 3.21%.Healthcare Services Group’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.16 EPS. As a group, equities research analysts forecast that Healthcare Services Group will post 0.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Healthcare Services Group

A number of hedge funds have recently added to or reduced their stakes in HCSG. 8 Knots Management LLC bought a new position in shares of Healthcare Services Group during the third quarter worth about $56,527,000. Arrowstreet Capital Limited Partnership boosted its stake in Healthcare Services Group by 240.1% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,496,835 shares of the business services provider’s stock valued at $22,497,000 after purchasing an additional 1,056,705 shares during the period. Ameriprise Financial Inc. grew its position in Healthcare Services Group by 80.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,981,840 shares of the business services provider’s stock worth $33,354,000 after purchasing an additional 882,213 shares during the last quarter. American Century Companies Inc. grew its position in Healthcare Services Group by 183.0% in the 2nd quarter. American Century Companies Inc. now owns 1,278,993 shares of the business services provider’s stock worth $19,223,000 after purchasing an additional 827,057 shares during the last quarter. Finally, CSM Advisors LLC acquired a new stake in shares of Healthcare Services Group in the second quarter valued at approximately $8,864,000. 97.97% of the stock is currently owned by institutional investors.

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.