Healthcare Services Group (NASDAQ:HCSG) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of Healthcare Services Group (NASDAQ:HCSG) from a buy rating to a hold rating in a research report report published on Wednesday morning.

Several other brokerages also recently weighed in on HCSG. Benchmark restated a “buy” rating and set a $17.00 price target on shares of Healthcare Services Group in a report on Thursday, December 19th. Macquarie assumed coverage on shares of Healthcare Services Group in a research note on Monday, December 16th. They issued a “neutral” rating and a $13.00 target price on the stock. Finally, Robert W. Baird decreased their price target on Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $13.80.

Healthcare Services Group Trading Down 3.3 %

Shares of HCSG opened at $11.43 on Wednesday. The firm’s 50-day moving average price is $11.87 and its 200-day moving average price is $11.26. The firm has a market capitalization of $837.72 million, a price-to-earnings ratio of 16.57 and a beta of 0.56. Healthcare Services Group has a 1-year low of $8.98 and a 1-year high of $13.00.

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

Institutional Investors Weigh In On Healthcare Services Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC increased its position in shares of Healthcare Services Group by 80.8% during the 3rd quarter. Jane Street Group LLC now owns 175,444 shares of the business services provider’s stock valued at $1,960,000 after purchasing an additional 78,391 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Healthcare Services Group by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,760,971 shares of the business services provider’s stock worth $19,674,000 after acquiring an additional 50,375 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Healthcare Services Group by 11.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 773,635 shares of the business services provider’s stock valued at $8,642,000 after acquiring an additional 76,456 shares during the period. Foundry Partners LLC grew its holdings in Healthcare Services Group by 86.5% during the third quarter. Foundry Partners LLC now owns 807,031 shares of the business services provider’s stock valued at $9,015,000 after purchasing an additional 374,301 shares during the period. Finally, Franklin Resources Inc. raised its stake in shares of Healthcare Services Group by 39.9% in the third quarter. Franklin Resources Inc. now owns 560,588 shares of the business services provider’s stock worth $5,858,000 after buying an additional 159,878 shares during the period. 97.97% of the stock is currently owned by hedge funds and other institutional investors.

Healthcare Services Group Company Profile

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.