Royal Bank Of Canada Begins Coverage on Healthcare Services Group (NASDAQ:HCSG)

Investment analysts at Royal Bank Of Canada started coverage on shares of Healthcare Services Group (NASDAQ:HCSG) in a research note issued to investors on Tuesday, Marketbeat reports. The brokerage set a “sector perform” rating and a $22.00 price target on the business services provider’s stock. Royal Bank Of Canada’s target price indicates a potential upside of 3.24% from the company’s previous close.

Several other research firms also recently issued reports on HCSG. William Blair upgraded shares of Healthcare Services Group from a “market perform” rating to an “outperform” rating in a report on Friday, February 20th. Weiss Ratings reissued a “hold (c+)” rating on shares of Healthcare Services Group in a research report on Monday, December 29th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $22.00 price target on shares of Healthcare Services Group in a report on Thursday, February 12th. Wall Street Zen lowered Healthcare Services Group from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 22nd. Finally, Benchmark restated a “buy” rating on shares of Healthcare Services Group in a research note on Thursday, February 12th. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $22.00.

Healthcare Services Group Stock Up 0.0%

Shares of HCSG stock opened at $21.31 on Tuesday. Healthcare Services Group has a 12 month low of $9.13 and a 12 month high of $22.98. The firm has a market cap of $1.50 billion, a PE ratio of 25.99 and a beta of 0.73. The stock has a 50 day moving average of $19.79 and a 200-day moving average of $18.10.

Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings data on Wednesday, February 11th. The business services provider reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.21. The business had revenue of $466.68 million for the quarter, compared to the consensus estimate of $467.24 million. Healthcare Services Group had a net margin of 3.21% and a return on equity of 16.04%. Healthcare Services Group’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the company posted $0.16 earnings per share. As a group, equities analysts predict that Healthcare Services Group will post 0.74 EPS for the current fiscal year.

Insider Buying and Selling

In other Healthcare Services Group news, EVP John Christopher Shea sold 54,357 shares of Healthcare Services Group stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $20.41, for a total transaction of $1,109,426.37. Following the completion of the transaction, the executive vice president directly owned 29,292 shares of the company’s stock, valued at approximately $597,849.72. This trade represents a 64.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Patrick J. Orr sold 45,500 shares of the business’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $20.54, for a total transaction of $934,570.00. Following the completion of the sale, the executive vice president owned 44,615 shares in the company, valued at $916,392.10. This represents a 50.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 146,962 shares of company stock worth $3,014,100 in the last 90 days. 2.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Healthcare Services Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its holdings in shares of Healthcare Services Group by 3.7% during the first quarter. Royal Bank of Canada now owns 139,126 shares of the business services provider’s stock worth $1,402,000 after buying an additional 4,917 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Healthcare Services Group by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,704 shares of the business services provider’s stock worth $441,000 after acquiring an additional 1,824 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Healthcare Services Group during the 1st quarter worth approximately $242,000. Jane Street Group LLC increased its holdings in Healthcare Services Group by 962.0% during the 1st quarter. Jane Street Group LLC now owns 200,082 shares of the business services provider’s stock valued at $2,017,000 after purchasing an additional 181,242 shares in the last quarter. Finally, First Eagle Investment Management LLC raised its position in Healthcare Services Group by 18.7% in the 2nd quarter. First Eagle Investment Management LLC now owns 598,848 shares of the business services provider’s stock valued at $9,001,000 after purchasing an additional 94,500 shares during the last quarter. 97.97% of the stock is currently owned by institutional investors and hedge funds.

About Healthcare Services Group

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.