Healthcare Services Group, Inc. (NASDAQ:HCSG) Given Consensus Rating of “Moderate Buy” by Brokerages

Healthcare Services Group, Inc. (NASDAQ:HCSG) has received an average rating of “Moderate Buy” from the four brokerages that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $14.00.

HCSG has been the subject of a number of recent research reports. StockNews.com downgraded Healthcare Services Group from a “buy” rating to a “hold” rating in a research note on Saturday. Robert W. Baird cut their price objective on shares of Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. Benchmark reiterated a “buy” rating and issued a $17.00 target price on shares of Healthcare Services Group in a report on Thursday, October 24th. Finally, Macquarie began coverage on shares of Healthcare Services Group in a report on Monday. They set a “neutral” rating for the company.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in HCSG. Royce & Associates LP grew its position in Healthcare Services Group by 7.0% during the 3rd quarter. Royce & Associates LP now owns 4,449,496 shares of the business services provider’s stock worth $49,701,000 after purchasing an additional 290,621 shares during the last quarter. State Street Corp lifted its position in Healthcare Services Group by 8.3% during the 3rd quarter. State Street Corp now owns 2,964,325 shares of the business services provider’s stock worth $33,112,000 after acquiring an additional 226,818 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Healthcare Services Group by 9.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,057,202 shares of the business services provider’s stock valued at $21,766,000 after purchasing an additional 181,231 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Healthcare Services Group by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,760,971 shares of the business services provider’s stock valued at $19,674,000 after purchasing an additional 50,375 shares during the last quarter. Finally, Brandes Investment Partners LP raised its stake in shares of Healthcare Services Group by 12.2% during the second quarter. Brandes Investment Partners LP now owns 1,318,045 shares of the business services provider’s stock worth $13,983,000 after purchasing an additional 142,997 shares during the last quarter. Institutional investors and hedge funds own 97.97% of the company’s stock.

Healthcare Services Group Trading Down 2.7 %

HCSG stock opened at $12.54 on Monday. The firm has a 50-day moving average of $11.48 and a two-hundred day moving average of $11.04. Healthcare Services Group has a 12 month low of $8.98 and a 12 month high of $13.00. The company has a market cap of $919.07 million, a price-to-earnings ratio of 18.17 and a beta of 0.55.

Healthcare Services Group (NASDAQ:HCSG) last posted its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. Healthcare Services Group had a return on equity of 12.59% and a net margin of 2.95%. The business had revenue of $428.10 million during the quarter, compared to analyst estimates of $429.95 million. During the same period in the prior year, the business earned $0.17 earnings per share. The business’s revenue was up 4.1% compared to the same quarter last year. As a group, equities analysts forecast that Healthcare Services Group will post 0.81 earnings per share for the current year.

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.