Healthcare Services Group (NASDAQ:HCSG) Sets New 12-Month High – Still a Buy?

Healthcare Services Group, Inc. (NASDAQ:HCSG) shares reached a new 52-week high on Friday . The stock traded as high as $24.52 and last traded at $24.3030, with a volume of 2309200 shares trading hands. The stock had previously closed at $23.63.

Wall Street Analyst Weigh In

HCSG has been the topic of a number of research reports. Royal Bank Of Canada boosted their target price on shares of Healthcare Services Group from $22.00 to $24.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 23rd. Zacks Research raised shares of Healthcare Services Group from a “hold” rating to a “strong-buy” rating in a report on Monday, May 4th. Wall Street Zen raised shares of Healthcare Services Group from a “hold” rating to a “buy” rating in a report on Sunday, March 29th. UBS Group raised their price target on shares of Healthcare Services Group from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Finally, BMO Capital Markets boosted their price objective on shares of Healthcare Services Group from $22.00 to $24.00 and gave the stock a “market perform” rating in a report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

Healthcare Services Group Stock Up 2.8%

The firm has a market capitalization of $1.67 billion, a P/E ratio of 25.32 and a beta of 0.82. The business has a 50-day moving average price of $21.34 and a 200-day moving average price of $20.19.

Healthcare Services Group (NASDAQ:HCSG) last posted its quarterly earnings results on Wednesday, April 22nd. The business services provider reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.15. The firm had revenue of $462.77 million for the quarter, compared to the consensus estimate of $479.79 million. Healthcare Services Group had a net margin of 3.67% and a return on equity of 17.81%. The business’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.23 earnings per share. As a group, sell-side analysts forecast that Healthcare Services Group, Inc. will post 1.01 EPS for the current year.

Institutional Trading of Healthcare Services Group

Institutional investors have recently made changes to their positions in the business. 8 Knots Management LLC bought a new stake in Healthcare Services Group in the third quarter valued at about $56,527,000. Dimensional Fund Advisors LP boosted its holdings in Healthcare Services Group by 2.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,400,681 shares of the business services provider’s stock valued at $44,534,000 after purchasing an additional 62,689 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Healthcare Services Group by 80.2% during 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 purchasing an additional 882,213 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Healthcare Services Group by 38.1% in the 3rd quarter. American Century Companies Inc. now owns 1,766,601 shares of the business services provider’s stock valued at $29,732,000 after purchasing an additional 487,608 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Healthcare Services Group by 12.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,475,369 shares of the business services provider’s stock valued at $28,209,000 after purchasing an additional 158,261 shares during the period. 97.97% of the stock is currently owned by institutional investors and hedge funds.

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.