Healthcare Services Group (NASDAQ:HCSG) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Healthcare Services Group (NASDAQ:HCSG) from a hold rating to a buy rating in a report issued on Sunday morning.

A number of other research analysts have also commented on HCSG. Royal Bank Of Canada began coverage on shares of Healthcare Services Group in a research report on Tuesday, March 3rd. They set a “sector perform” rating and a $22.00 price objective for the company. Robert W. Baird set a $23.00 target price on Healthcare Services Group in a research report on Thursday, February 12th. William Blair upgraded Healthcare Services Group from a “market perform” rating to an “outperform” rating in a research note on Friday, February 20th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $22.00 price target on shares of Healthcare Services Group in a report on Thursday, February 12th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Healthcare Services Group in a research report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $22.00.

Healthcare Services Group Trading Down 0.8%

Shares of Healthcare Services Group stock opened at $18.55 on Friday. Healthcare Services Group has a 1 year low of $9.13 and a 1 year high of $22.98. The company’s fifty day simple moving average is $19.98 and its 200-day simple moving average is $18.64. The company has a market cap of $1.30 billion, a price-to-earnings ratio of 22.62 and a beta of 0.73.

Healthcare Services Group (NASDAQ:HCSG) last released its earnings results on Wednesday, February 11th. The business services provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.23 by $0.21. The firm had revenue of $466.68 million during the quarter, compared to analysts’ expectations of $467.24 million. Healthcare Services Group had a net margin of 3.21% and a return on equity of 16.04%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.16 EPS. As a group, research analysts forecast that Healthcare Services Group will post 0.74 earnings per share for the current fiscal year.

Insider Transactions at Healthcare Services Group

In other news, CAO Andrew M. Brophy sold 2,490 shares of Healthcare Services Group stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $21.75, for a total transaction of $54,157.50. Following the sale, the chief accounting officer directly owned 15,735 shares in the company, valued at approximately $342,236.25. The trade was a 13.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Christopher Shea sold 54,357 shares of the company’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $20.41, for a total transaction of $1,109,426.37. Following the completion of the sale, the executive vice president directly owned 29,292 shares in the company, valued at approximately $597,849.72. The trade was a 64.98% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 146,962 shares of company stock valued at $3,014,100. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Healthcare Services Group

Several large investors have recently modified their holdings of the stock. 8 Knots Management LLC acquired a new stake in shares of Healthcare Services Group during the 3rd quarter worth about $56,527,000. Arrowstreet Capital Limited Partnership lifted its holdings in Healthcare Services Group by 240.1% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,496,835 shares of the business services provider’s stock valued at $22,497,000 after purchasing an additional 1,056,705 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Healthcare Services Group by 80.2% in the third quarter. Ameriprise Financial Inc. now owns 1,981,840 shares of the business services provider’s stock valued at $33,354,000 after buying an additional 882,213 shares in the last quarter. American Century Companies Inc. grew its stake in Healthcare Services Group by 183.0% during the second quarter. American Century Companies Inc. now owns 1,278,993 shares of the business services provider’s stock worth $19,223,000 after buying an additional 827,057 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its stake in Healthcare Services Group by 1,116.3% during the second quarter. Qube Research & Technologies Ltd now owns 448,806 shares of the business services provider’s stock worth $6,746,000 after buying an additional 411,908 shares during the last quarter. 97.97% of the stock is currently owned by institutional investors.

Healthcare Services Group Company Profile

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.