Healthcare Services Group (NASDAQ:HCSG) Earns “Buy” Rating from Benchmark

Healthcare Services Group (NASDAQ:HCSG)‘s stock had its “buy” rating reissued by equities research analysts at Benchmark in a note issued to investors on Thursday,Benzinga reports. They currently have a $17.00 price target on the business services provider’s stock. Benchmark’s price objective would suggest a potential upside of 50.44% from the stock’s current price.

A number of other equities research analysts also recently issued reports on HCSG. Robert W. Baird lowered their target price on shares of Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, October 24th. Macquarie assumed coverage on shares of Healthcare Services Group in a report on Monday, December 16th. They set a “neutral” rating and a $13.00 target price on the stock. Finally, StockNews.com downgraded shares of Healthcare Services Group from a “buy” rating to a “hold” rating in a research report on Saturday, December 14th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $13.80.

Healthcare Services Group Stock Performance

HCSG stock opened at $11.30 on Thursday. The company has a 50 day moving average price of $11.65 and a two-hundred day moving average price of $11.07. The stock has a market capitalization of $828.19 million, a P/E ratio of 16.38 and a beta of 0.55. Healthcare Services Group has a one year low of $8.98 and a one year high of $13.00.

Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. Healthcare Services Group had a return on equity of 12.59% and a net margin of 2.95%. The business had revenue of $428.10 million during the quarter, compared to the consensus estimate of $429.95 million. During the same quarter in the previous year, the business earned $0.17 earnings per share. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. Research analysts forecast that Healthcare Services Group will post 0.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Healthcare Services Group

Hedge funds have recently bought and sold shares of the company. Foundry Partners LLC lifted its stake in Healthcare Services Group by 86.5% during the third quarter. Foundry Partners LLC now owns 807,031 shares of the business services provider’s stock worth $9,015,000 after purchasing an additional 374,301 shares during the last quarter. Azarias Capital Management L.P. lifted its holdings in shares of Healthcare Services Group by 50.7% in the 2nd quarter. Azarias Capital Management L.P. now owns 1,226,773 shares of the business services provider’s stock worth $12,979,000 after purchasing an additional 412,704 shares during the last quarter. Brandes Investment Partners LP boosted its position in Healthcare Services Group by 12.2% during the 2nd quarter. Brandes Investment Partners LP now owns 1,318,045 shares of the business services provider’s stock valued at $13,983,000 after purchasing an additional 142,997 shares during the period. Royce & Associates LP grew its stake in Healthcare Services Group by 7.0% during the 3rd quarter. Royce & Associates LP now owns 4,449,496 shares of the business services provider’s stock worth $49,701,000 after buying an additional 290,621 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new stake in Healthcare Services Group in the third quarter worth $231,000. 97.97% of the stock is currently owned by institutional investors and hedge funds.

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.