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

Healthcare Services Group (NASDAQ:HCSG) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

HCSG has been the subject of several other research reports. Benchmark reaffirmed a “buy” rating and set a $17.00 target price on shares of Healthcare Services Group in a research note on Thursday, October 24th. Robert W. Baird reduced their price objective on shares of Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Healthcare Services Group currently has a consensus rating of “Hold” and an average target price of $14.00.

Healthcare Services Group Trading Down 2.7 %

HCSG stock opened at $12.54 on Friday. The firm’s 50-day moving average is $11.48 and its two-hundred day moving average is $11.03. The company has a market capitalization of $919.07 million, a price-to-earnings ratio of 18.17 and a beta of 0.55. Healthcare Services Group has a 52 week low of $8.98 and a 52 week high of $13.00.

Healthcare Services Group (NASDAQ:HCSG) last announced its earnings results on Wednesday, October 23rd. The business services provider reported $0.19 EPS for the quarter, topping the consensus estimate of $0.16 by $0.03. The firm had revenue of $428.10 million for the quarter, compared to analysts’ expectations of $429.95 million. Healthcare Services Group had a return on equity of 12.59% and a net margin of 2.95%. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.17 earnings per share. On average, equities research analysts predict that Healthcare Services Group will post 0.81 earnings per share for the current year.

Hedge Funds Weigh In On Healthcare Services Group

Hedge funds have recently modified their holdings of the stock. Farther Finance Advisors LLC lifted its holdings in shares of Healthcare Services Group by 804.0% during the third quarter. Farther Finance Advisors LLC now owns 2,730 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 2,428 shares during the last quarter. Headlands Technologies LLC lifted its stake in Healthcare Services Group by 44.4% during the second quarter. Headlands Technologies LLC now owns 3,107 shares of the business services provider’s stock valued at $33,000 after buying an additional 955 shares in the last quarter. Financial Management Professionals Inc. increased its position in shares of Healthcare Services Group by 85.7% in the third quarter. Financial Management Professionals Inc. now owns 8,180 shares of the business services provider’s stock worth $91,000 after acquiring an additional 3,774 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Healthcare Services Group by 1,017.5% during the third quarter. International Assets Investment Management LLC now owns 10,292 shares of the business services provider’s stock valued at $1,150,000 after acquiring an additional 9,371 shares during the period. Finally, Bleakley Financial Group LLC purchased a new stake in shares of Healthcare Services Group in the 3rd quarter valued at approximately $116,000. 97.97% of the stock is currently owned by institutional investors and hedge funds.

About Healthcare Services Group

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.