Healthcare Services Group (NASDAQ:HCSG) Shares Down 6.7%

Healthcare Services Group, Inc. (NASDAQ:HCSG)’s share price fell 6.7% during mid-day trading on Tuesday . The stock traded as low as $10.41 and last traded at $10.42. 269,046 shares traded hands during mid-day trading, a decline of 48% from the average session volume of 512,805 shares. The stock had previously closed at $11.17.

Analyst Ratings Changes

Several research firms have issued reports on HCSG. Benchmark restated a “buy” rating and issued a $17.00 price target on shares of Healthcare Services Group in a research report on Thursday, July 25th. Robert W. Baird lifted their price objective on shares of Healthcare Services Group from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Finally, Royal Bank of Canada lowered their price objective on shares of Healthcare Services Group from $15.00 to $14.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $14.50.

Healthcare Services Group Stock Performance

The firm’s 50 day moving average is $10.92 and its 200-day moving average is $11.12. The firm has a market cap of $767.39 million, a price-to-earnings ratio of 18.37 and a beta of 0.53.

Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings data on Wednesday, July 24th. The business services provider reported $0.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.20. Healthcare Services Group had a net margin of 1.82% and a return on equity of 12.58%. The business had revenue of $426.30 million during the quarter, compared to analyst estimates of $424.94 million. During the same quarter in the previous year, the business earned $0.12 EPS. Healthcare Services Group’s quarterly revenue was up 1.8% compared to the same quarter last year. As a group, research analysts predict that Healthcare Services Group, Inc. will post 0.78 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of HCSG. Headlands Technologies LLC acquired a new position in Healthcare Services Group during the 1st quarter worth $27,000. Financial Management Professionals Inc. acquired a new position in Healthcare Services Group during the 1st quarter worth $55,000. PNC Financial Services Group Inc. lifted its position in Healthcare Services Group by 38.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,186 shares of the business services provider’s stock worth $64,000 after acquiring an additional 1,714 shares during the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in Healthcare Services Group during the 2nd quarter worth $124,000. Finally, CWM LLC lifted its position in Healthcare Services Group by 12.9% during the 1st quarter. CWM LLC now owns 12,357 shares of the business services provider’s stock worth $154,000 after acquiring an additional 1,411 shares during the last quarter. Institutional investors and hedge funds own 97.97% of the company’s stock.

Healthcare Services Group Company Profile

Healthcare Services Group, Inc provides management, administrative, and operating services to the housekeeping, laundry, linen, facility maintenance, and dietary service departments of nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.