Healthcare Services Group (NASDAQ:HCSG) Cut to “Hold” at StockNews.com

Healthcare Services Group (NASDAQ:HCSG) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Saturday.

Several other analysts have also weighed in on the stock. Benchmark reiterated a “buy” rating and set a $17.00 target price on shares of Healthcare Services Group in a research note on Thursday, October 24th. Robert W. Baird lowered their price objective on shares of Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $14.00.

Healthcare Services Group Stock Performance

Shares of HCSG stock opened at $12.54 on Friday. The stock has a market capitalization of $919.07 million, a price-to-earnings ratio of 18.17 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. The company’s 50-day simple moving average is $11.48 and its 200-day simple moving average is $11.03.

Healthcare Services Group (NASDAQ:HCSG) last released its earnings results on Wednesday, October 23rd. The business services provider reported $0.19 EPS for the quarter, topping 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 company had revenue of $428.10 million for the quarter, compared to the consensus estimate of $429.95 million. During the same quarter last year, the business posted $0.17 EPS. Healthcare Services Group’s quarterly revenue was up 4.1% compared to the same quarter last year. As a group, research analysts forecast that Healthcare Services Group will post 0.81 EPS for the current year.

Institutional Investors Weigh In On Healthcare Services Group

Hedge funds have recently added to or reduced their stakes in the stock. Headlands Technologies LLC increased its holdings in shares of Healthcare Services Group by 44.4% in the 2nd quarter. Headlands Technologies LLC now owns 3,107 shares of the business services provider’s stock worth $33,000 after acquiring an additional 955 shares during the period. Tidal Investments LLC increased its stake in shares of Healthcare Services Group by 1.7% in the third quarter. Tidal Investments LLC now owns 78,218 shares of the business services provider’s stock valued at $874,000 after purchasing an additional 1,276 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Healthcare Services Group by 4.8% during the second quarter. The Manufacturers Life Insurance Company now owns 28,368 shares of the business services provider’s stock valued at $300,000 after buying an additional 1,311 shares during the last quarter. ClariVest Asset Management LLC grew its holdings in Healthcare Services Group by 1.2% in the 2nd quarter. ClariVest Asset Management LLC now owns 152,278 shares of the business services provider’s stock worth $1,611,000 after buying an additional 1,740 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position in Healthcare Services Group by 804.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,730 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 2,428 shares during the period. 97.97% of the stock is currently owned by institutional investors.

About Healthcare Services Group

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.