Healthcare Services Group, Inc. (NASDAQ:HCSG) Stock Has Average Price Target of $26.67 According to Brokerages

Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) have been assigned a consensus rating of “Moderate Buy” from the ten brokerages that are currently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $26.67.

HCSG has been the subject of a number of recent research reports. Robert W. Baird dropped their price objective on shares of Healthcare Services Group from $26.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, October 8th. Oppenheimer began coverage on shares of Healthcare Services Group in a report on Wednesday, August 19th. They set an “outperform” rating and a $28.00 price objective for the company. Zacks Research upgraded shares of Healthcare Services Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 28th. Wall Street Zen cut shares of Healthcare Services Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Weiss Ratings raised shares of Healthcare Services Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, September 25th.

Healthcare Services Group Price Performance

Shares of HCSG traded down $0.12 on Friday, reaching $24.90. 274,851 shares of the stock traded hands, compared to its average volume of 792,762. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of 16.71 and a beta of 0.92. Healthcare Services Group has a 12 month low of $16.78 and a 12 month high of $27.05. The stock’s 50-day moving average price is $22.54 and its 200-day moving average price is $21.69.

Healthcare Services Group (NASDAQ:HCSG) last issued its earnings results on Wednesday, October 21st. The business services provider reported $0.36 EPS for the quarter, topping the consensus estimate of $0.24 by $0.12. Healthcare Services Group had a return on equity of 20.22% and a net margin of 5.58%. The firm had revenue of $479.60 million during the quarter, compared to analysts’ expectations of $480.80 million. During the same period last year, the business earned $0.59 earnings per share. As a group, equities research analysts forecast that Healthcare Services Group will post 1.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Healthcare Services Group news, EVP Jason J. Bundick sold 18,239 shares of Healthcare Services Group stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $25.11, for a total transaction of $457,981.29. Following the sale, the executive vice president directly owned 17,125 shares of the company’s stock, valued at approximately $430,008.75. The trade was a 51.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Healthcare Services Group

Hedge funds have recently modified their holdings of the stock. Marshall Wace LLP boosted its stake in Healthcare Services Group by 51.4% in the 3rd quarter. Marshall Wace LLP now owns 96,500 shares of the business services provider’s stock valued at $1,973,000 after buying an additional 32,781 shares in the last quarter. Buckland Partners Management Co LLC bought a new stake in Healthcare Services Group in the third quarter valued at $614,000. First Trust Advisors LP grew its position in Healthcare Services Group by 13.3% in the third quarter. First Trust Advisors LP now owns 614,949 shares of the business services provider’s stock valued at $12,576,000 after acquiring an additional 72,094 shares during the period. Edgestream Partners L.P. acquired a new position in Healthcare Services Group during the third quarter worth $2,472,000. Finally, Diversified Trust Co raised its stake in Healthcare Services Group by 6.0% during the third quarter. Diversified Trust Co now owns 36,124 shares of the business services provider’s stock worth $739,000 after acquiring an additional 2,049 shares in the last quarter. 97.97% of the stock is owned by institutional investors and hedge funds.

Healthcare Services Group Company Profile

Healthcare Services Group, Inc. provides housekeeping, laundry and dining services to healthcare and other care-related facilities in the United States. Its clients include skilled nursing and rehabilitation centers, hospitals, retirement communities and other long-term care settings. The company’s services are generally organized around environmental services, which include cleaning and laundry, and dining and nutrition services, which include meal preparation and food-service operations. Healthcare Services Group was founded in 1976 and is headquartered in Bensalem, Pennsylvania.