Healthcare Services Group (NASDAQ:HCSG) Lowered to “Hold” Rating by StockNews.com

Healthcare Services Group (NASDAQ:HCSG) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

HCSG has been the subject of a number of other reports. Macquarie started coverage on shares of Healthcare Services Group in a research note on Monday, December 16th. They issued a “neutral” rating and a $13.00 price target for the company. Benchmark reiterated a “buy” rating and set a $17.00 target price on shares of Healthcare Services Group in a research note on Thursday, December 19th. Finally, Robert W. Baird dropped their price target on Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $14.00.

Healthcare Services Group Price Performance

Shares of NASDAQ HCSG opened at $10.78 on Wednesday. Healthcare Services Group has a 1 year low of $9.70 and a 1 year high of $13.00. The firm has a 50-day moving average of $11.39 and a 200 day moving average of $11.22. The stock has a market cap of $792.22 million, a P/E ratio of 19.96 and a beta of 0.56.

Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings results on Wednesday, February 12th. The business services provider reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.04). Healthcare Services Group had a net margin of 2.30% and a return on equity of 11.76%. Research analysts expect that Healthcare Services Group will post 0.74 earnings per share for the current fiscal year.

Institutional Trading of Healthcare Services Group

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