Healthcare Services Group, Inc. (NASDAQ:HCSG) Receives $19.40 Consensus Target Price from Brokerages

Healthcare Services Group, Inc. (NASDAQ:HCSG) has earned an average rating of “Hold” from the seven research firms that are currently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $19.40.

A number of analysts have weighed in on the stock. Wall Street Zen upgraded shares of Healthcare Services Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 10th. Benchmark raised their price target on shares of Healthcare Services Group from $19.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Zacks Research lowered shares of Healthcare Services Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 30th. UBS Group reiterated a “buy” rating on shares of Healthcare Services Group in a research note on Monday, November 24th. Finally, Macquarie reissued a “buy” rating on shares of Healthcare Services Group in a report on Wednesday, November 26th.

Healthcare Services Group Trading Down 2.5%

Shares of NASDAQ:HCSG opened at $18.79 on Monday. The stock has a fifty day simple moving average of $18.66 and a two-hundred day simple moving average of $16.62. Healthcare Services Group has a 12-month low of $9.13 and a 12-month high of $20.26. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 34.80 and a beta of 0.71.

Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings results on Wednesday, October 22nd. The business services provider reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.02. The firm had revenue of $464.34 million during the quarter, compared to the consensus estimate of $460.36 million. Healthcare Services Group had a return on equity of 12.23% and a net margin of 2.20%.The company’s revenue was up 8.5% on a year-over-year basis. During the same period last year, the company earned $0.19 earnings per share. As a group, equities research analysts predict that Healthcare Services Group will post 0.74 EPS for the current year.

Hedge Funds Weigh In On Healthcare Services Group

A number of hedge funds have recently bought and sold shares of HCSG. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Healthcare Services Group by 14.8% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 38,912 shares of the business services provider’s stock valued at $744,000 after acquiring an additional 5,009 shares during the last quarter. SG Americas Securities LLC lifted its position in Healthcare Services Group by 298.1% during the fourth quarter. SG Americas Securities LLC now owns 43,739 shares of the business services provider’s stock valued at $836,000 after purchasing an additional 32,752 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Healthcare Services Group by 44.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 24,557 shares of the business services provider’s stock worth $463,000 after purchasing an additional 7,507 shares during the last quarter. CWA Asset Management Group LLC grew its position in Healthcare Services Group by 2.9% in the 4th quarter. CWA Asset Management Group LLC now owns 84,353 shares of the business services provider’s stock worth $1,613,000 after purchasing an additional 2,397 shares during the period. Finally, Miller Global Investments LLC purchased a new stake in Healthcare Services Group during the 4th quarter valued at $26,000. Hedge funds and other institutional investors own 97.97% of the company’s stock.

Healthcare Services Group Company Profile

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.