Healthcare Services Group (HCSG) PT Lowered to $48.00

Healthcare Services Group (NASDAQ:HCSG) had its price objective lowered by equities research analysts at Credit Suisse Group from $62.00 to $48.00 in a research note issued to investors on Wednesday. The firm currently has an “outperform” rating on the business services provider’s stock. Credit Suisse Group’s target price suggests a potential upside of 22.82% from the stock’s current price.

Several other research firms have also recently commented on HCSG. BidaskClub cut Healthcare Services Group from a “hold” rating to a “sell” rating in a research note on Thursday, January 4th. Zacks Investment Research upgraded Healthcare Services Group from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Tuesday, February 6th. Stifel Nicolaus lowered Healthcare Services Group from a “buy” rating to a “hold” rating and cut their price target for the stock from $57.00 to $44.00 in a report on Wednesday. Finally, Robert W. Baird cut their price target on Healthcare Services Group from $50.00 to $48.00 and set a “hold” rating on the stock in a report on Tuesday. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $45.60.

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NASDAQ HCSG opened at $39.08 on Wednesday. Healthcare Services Group has a one year low of $35.04 and a one year high of $56.20. The company has a market cap of $2,836.64, a P/E ratio of 32.84, a price-to-earnings-growth ratio of 2.27 and a beta of 0.79.

Healthcare Services Group (NASDAQ:HCSG) last released its earnings results on Tuesday, April 17th. The business services provider reported $0.00 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.38). Healthcare Services Group had a return on equity of 16.99% and a net margin of 3.38%. The business had revenue of $501.81 million for the quarter, compared to analyst estimates of $505.44 million. During the same period in the prior year, the business earned $0.30 EPS. The company’s revenue for the quarter was up 24.1% on a year-over-year basis. analysts forecast that Healthcare Services Group will post 1.54 EPS for the current fiscal year.

In other Healthcare Services Group news, Director Dino D. Ottaviano sold 1,500 shares of the stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $45.15, for a total value of $67,725.00. Following the transaction, the director now owns 2,044 shares in the company, valued at $92,286.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert J. Moss sold 2,000 shares of the stock in a transaction that occurred on Monday, March 19th. The stock was sold at an average price of $44.50, for a total value of $89,000.00. Following the completion of the transaction, the director now owns 2,000 shares in the company, valued at approximately $89,000. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the business. Captrust Financial Advisors bought a new position in Healthcare Services Group in the fourth quarter worth approximately $118,000. Israel Discount Bank of New York lifted its holdings in shares of Healthcare Services Group by 112.2% in the fourth quarter. Israel Discount Bank of New York now owns 2,515 shares of the business services provider’s stock valued at $133,000 after purchasing an additional 1,330 shares in the last quarter. We Are One Seven LLC bought a new position in shares of Healthcare Services Group in the fourth quarter valued at approximately $155,000. M&T Bank Corp bought a new position in shares of Healthcare Services Group in the fourth quarter valued at approximately $208,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Healthcare Services Group by 52.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,109 shares of the business services provider’s stock valued at $217,000 after purchasing an additional 1,409 shares in the last quarter. Institutional investors and hedge funds own 97.66% of the company’s stock.

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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 to nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.

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