Healthcare Services Group (NASDAQ:HCSG) Stock Rating Upgraded by Wall Street Zen
by Sarita Garza · The Markets DailyHealthcare Services Group (NASDAQ:HCSG – Get Free Report) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Sunday.
Several other equities analysts have also recently issued reports on HCSG. Royal Bank Of Canada initiated coverage on Healthcare Services Group in a report on Tuesday, March 3rd. They set a “sector perform” rating and a $22.00 price objective for the company. UBS Group set a $25.00 target price on Healthcare Services Group and gave the company a “buy” rating in a report on Thursday, February 12th. William Blair raised Healthcare Services Group from a “market perform” rating to an “outperform” rating in a research note on Friday, February 20th. BMO Capital Markets reiterated a “market perform” rating and issued a $22.00 price objective on shares of Healthcare Services Group in a research report on Thursday, February 12th. Finally, Benchmark reissued 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 given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $22.00.
View Our Latest Analysis on Healthcare Services Group
Healthcare Services Group Trading Up 1.1%
Shares of HCSG opened at $18.70 on Friday. The firm’s 50-day moving average is $19.99 and its two-hundred day moving average is $18.63. Healthcare Services Group has a twelve month low of $9.13 and a twelve month high of $22.98. The firm has a market capitalization of $1.31 billion, a P/E ratio of 22.81 and a beta of 0.73.
Healthcare Services Group (NASDAQ:HCSG – Get Free Report) last posted its quarterly earnings results on Wednesday, February 11th. The business services provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.21. The company had revenue of $466.68 million during 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%. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period last year, the firm earned $0.16 EPS. Analysts predict that Healthcare Services Group will post 0.74 EPS for the current year.
Insiders Place Their Bets
In other news, EVP Patrick J. Orr sold 45,500 shares of the business’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $20.54, for a total value of $934,570.00. Following the completion of the transaction, the executive vice president directly owned 44,615 shares of the company’s stock, valued at $916,392.10. The trade was a 50.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Andrew M. Brophy sold 2,490 shares of the company’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $21.75, for a total value of $54,157.50. Following the completion of the sale, the chief accounting officer owned 15,735 shares in the company, valued at $342,236.25. This represents a 13.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 146,962 shares of company stock valued at $3,014,100. Corporate insiders own 2.10% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Miller Global Investments LLC purchased a new stake in shares of Healthcare Services Group during the fourth quarter worth about $26,000. EverSource Wealth Advisors LLC raised its position in shares of Healthcare Services Group by 163.4% in the second quarter. EverSource Wealth Advisors LLC now owns 2,186 shares of the business services provider’s stock valued at $33,000 after buying an additional 1,356 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Healthcare Services Group during the fourth quarter valued at approximately $33,000. GAMMA Investing LLC lifted its stake in shares of Healthcare Services Group by 94.9% during the third quarter. GAMMA Investing LLC now owns 2,843 shares of the business services provider’s stock valued at $48,000 after buying an additional 1,384 shares during the period. Finally, Farther Finance Advisors LLC boosted its position in Healthcare Services Group by 32.0% during the fourth quarter. Farther Finance Advisors LLC now owns 3,619 shares of the business services provider’s stock worth $69,000 after acquiring an additional 877 shares during the last quarter. 97.97% of the stock is currently owned by hedge funds and other institutional investors.
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.