Healthcare Services Group (NASDAQ:HCSG) PT Lowered to $12.00 at Robert W. Baird

Healthcare Services Group (NASDAQ:HCSG) had its price objective lowered by equities researchers at Robert W. Baird from $14.00 to $12.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the business services provider’s stock. Robert W. Baird’s price target indicates a potential upside of 13.42% from the company’s previous close.

A number of other research analysts have also recently issued reports on HCSG. Royal Bank of Canada decreased their target price on Healthcare Services Group from $15.00 to $14.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Benchmark reiterated a “buy” rating and issued a $17.00 price objective on shares of Healthcare Services Group in a research report on Thursday, July 25th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $14.00.

Healthcare Services Group Trading Up 2.8 %

Healthcare Services Group stock opened at $10.58 on Thursday. The firm has a market capitalization of $779.17 million, a P/E ratio of 18.56 and a beta of 0.52. The business has a 50-day moving average of $10.72 and a 200-day moving average of $10.89. Healthcare Services Group has a 1 year low of $8.75 and a 1 year high of $13.00.

Healthcare Services Group (NASDAQ:HCSG) last issued its earnings results on Wednesday, July 24th. The business services provider reported $0.20 EPS for the quarter, meeting the consensus estimate of $0.20. The firm had revenue of $426.30 million during the quarter, compared to the consensus estimate of $424.94 million. Healthcare Services Group had a net margin of 1.82% and a return on equity of 12.58%. The business’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.12 earnings per share. Research analysts anticipate that Healthcare Services Group will post 0.78 EPS for the current fiscal year.

Institutional Trading of Healthcare Services Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Healthcare Services Group by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 8,629,517 shares of the business services provider’s stock valued at $89,488,000 after purchasing an additional 167,779 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Healthcare Services Group by 38.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,186 shares of the business services provider’s stock valued at $64,000 after acquiring an additional 1,714 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Healthcare Services Group in the first quarter valued at about $344,000. Financial Management Professionals Inc. bought a new stake in Healthcare Services Group during the first quarter worth about $55,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Healthcare Services Group by 2,692.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 979,748 shares of the business services provider’s stock valued at $13,178,000 after purchasing an additional 944,658 shares during the last quarter. 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.