Healthcare Services Group (NASDAQ:HCSG) Shares Gap Up to $11.95

Healthcare Services Group, Inc. (NASDAQ:HCSG)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $11.95, but opened at $12.44. Healthcare Services Group shares last traded at $11.36, with a volume of 143,063 shares trading hands.

Analysts Set New Price Targets

Several brokerages recently weighed in on HCSG. StockNews.com raised shares of Healthcare Services Group from a “sell” rating to a “hold” rating in a report on Thursday, February 22nd. Benchmark raised their price objective on shares of Healthcare Services Group from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. Robert W. Baird raised their price objective on shares of Healthcare Services Group from $10.00 to $13.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. Royal Bank of Canada raised their price objective on shares of Healthcare Services Group from $14.00 to $15.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Finally, UBS Group lifted their price objective on shares of Healthcare Services Group from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $14.50.

Healthcare Services Group Stock Performance

The company has a market capitalization of $836.55 million, a PE ratio of 21.11 and a beta of 0.49. The firm’s 50-day simple moving average is $12.19 and its 200 day simple moving average is $10.71.

Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings data on Wednesday, February 14th. The business services provider reported $0.20 EPS for the quarter, topping the consensus estimate of $0.16 by $0.04. Healthcare Services Group had a net margin of 2.30% and a return on equity of 10.81%. The business had revenue of $423.80 million for the quarter, compared to analyst estimates of $424.57 million. During the same period in the previous year, the firm earned $0.22 EPS. The business’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, equities analysts anticipate that Healthcare Services Group, Inc. will post 0.77 earnings per share for the current year.

Institutional Investors Weigh In On Healthcare Services Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Bridge City Capital LLC raised its stake in Healthcare Services Group by 0.8% in the 1st quarter. Bridge City Capital LLC now owns 145,986 shares of the business services provider’s stock valued at $1,822,000 after purchasing an additional 1,104 shares during the last quarter. CWM LLC increased its stake in shares of Healthcare Services Group by 12.9% during the 1st quarter. CWM LLC now owns 12,357 shares of the business services provider’s stock valued at $154,000 after acquiring an additional 1,411 shares during the last quarter. Barclays PLC increased its stake in shares of Healthcare Services Group by 3.7% during the 3rd quarter. Barclays PLC now owns 43,139 shares of the business services provider’s stock valued at $450,000 after acquiring an additional 1,551 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Healthcare Services Group by 38.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,186 shares of the business services provider’s stock valued at $64,000 after acquiring an additional 1,714 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Healthcare Services Group by 14.0% during the 4th quarter. Victory Capital Management Inc. now owns 14,586 shares of the business services provider’s stock valued at $151,000 after acquiring an additional 1,795 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 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.