BidaskClub cut shares of Healthcare Services Group (NASDAQ:HCSG) from a hold rating to a sell rating in a research report sent to investors on Thursday.

Other equities research analysts also recently issued research reports about the company. Zacks Investment Research upgraded Healthcare Services Group from a hold rating to a buy rating and set a $58.00 target price for the company in a research report on Thursday, October 19th. Stifel Nicolaus restated a buy rating on shares of Healthcare Services Group in a research report on Thursday, October 19th. Robert W. Baird restated a buy rating and set a $52.00 target price on shares of Healthcare Services Group in a research report on Wednesday, October 4th. Jefferies Group restated a hold rating and set a $49.00 target price on shares of Healthcare Services Group in a research report on Friday, September 29th. Finally, Credit Suisse Group restated an outperform rating and set a $62.00 target price (up previously from $56.00) on shares of Healthcare Services Group in a research report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. Healthcare Services Group presently has a consensus rating of Hold and a consensus target price of $54.80.

Healthcare Services Group (NASDAQ:HCSG) traded up $0.24 during mid-day trading on Thursday, hitting $51.23. The stock had a trading volume of 265,935 shares, compared to its average volume of 348,584. The company has a market capitalization of $3,703.95, a P/E ratio of 42.48, a P/E/G ratio of 3.70 and a beta of 0.62. Healthcare Services Group has a 12 month low of $37.54 and a 12 month high of $55.68.

Healthcare Services Group (NASDAQ:HCSG) last released its earnings results on Tuesday, October 17th. The business services provider reported $0.31 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.31. The company had revenue of $491.40 million during the quarter, compared to the consensus estimate of $485.53 million. Healthcare Services Group had a return on equity of 24.17% and a net margin of 5.00%. The firm’s quarterly revenue was up 25.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.27 earnings per share. sell-side analysts expect that Healthcare Services Group will post 1.24 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Investors of record on Friday, November 17th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Thursday, November 16th. This is an increase from Healthcare Services Group’s previous quarterly dividend of $0.19. Healthcare Services Group’s dividend payout ratio is currently 63.87%.

In related news, insider Michael E. Mcbryan sold 22,500 shares of the company’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $53.03, for a total value of $1,193,175.00. Following the completion of the sale, the insider now owns 14,413 shares in the company, valued at $764,321.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael E. Mcbryan sold 800 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $53.00, for a total value of $42,400.00. Following the completion of the sale, the executive vice president now owns 14,413 shares of the company’s stock, valued at approximately $763,889. The disclosure for this sale can be found here. Corporate insiders own 4.30% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio increased its holdings in Healthcare Services Group by 16.9% in the second quarter. Strs Ohio now owns 9,000 shares of the business services provider’s stock valued at $421,000 after purchasing an additional 1,300 shares during the last quarter. SG Americas Securities LLC increased its holdings in Healthcare Services Group by 720.8% in the second quarter. SG Americas Securities LLC now owns 23,466 shares of the business services provider’s stock valued at $1,099,000 after purchasing an additional 20,607 shares during the last quarter. Aperio Group LLC increased its holdings in Healthcare Services Group by 20.1% in the second quarter. Aperio Group LLC now owns 32,715 shares of the business services provider’s stock valued at $1,532,000 after purchasing an additional 5,474 shares during the last quarter. TIAA CREF Investment Management LLC increased its holdings in Healthcare Services Group by 1.4% in the second quarter. TIAA CREF Investment Management LLC now owns 192,535 shares of the business services provider’s stock valued at $9,016,000 after purchasing an additional 2,601 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in Healthcare Services Group by 63.0% in the second quarter. First Trust Advisors LP now owns 36,095 shares of the business services provider’s stock valued at $1,690,000 after purchasing an additional 13,950 shares during the last quarter. Institutional investors and hedge funds own 93.16% of the company’s stock.

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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 the healthcare industry, including nursing homes, retirement complexes, rehabilitation centers and hospitals located throughout the United States.

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