Healthcare Services Group (NASDAQ:HCSG) Stock Rating Upgraded by StockNews.com

Healthcare Services Group (NASDAQ:HCSG) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Tuesday.

A number of other research analysts have also weighed in on the company. Robert W. Baird cut their price objective on Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, October 24th. Benchmark restated a “buy” rating and issued a $17.00 target price on shares of Healthcare Services Group in a research note on Thursday, December 19th. Finally, Macquarie started coverage on Healthcare Services Group in a research report on Monday, December 16th. They set a “neutral” rating and a $13.00 price target on the stock. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Healthcare Services Group has an average rating of “Moderate Buy” and a consensus target price of $13.80.

Healthcare Services Group Trading Down 1.7 %

HCSG opened at $10.71 on Tuesday. The firm has a market cap of $784.95 million, a price-to-earnings ratio of 15.52 and a beta of 0.56. Healthcare Services Group has a 12 month low of $9.34 and a 12 month high of $13.00. The stock has a fifty day moving average price of $11.60 and a 200-day moving average price of $11.24.

Healthcare Services Group (NASDAQ:HCSG) last announced its earnings results on Wednesday, February 12th. The business services provider reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.04). Healthcare Services Group had a net margin of 2.95% and a return on equity of 12.59%. On average, equities research analysts forecast that Healthcare Services Group will post 0.81 EPS for the current year.

Institutional Investors Weigh In On Healthcare Services Group

Institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company boosted its holdings in Healthcare Services Group by 4.8% in the second quarter. The Manufacturers Life Insurance Company now owns 28,368 shares of the business services provider’s stock valued at $300,000 after purchasing an additional 1,311 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of Healthcare Services Group during the second quarter worth about $453,000. CWM LLC increased its position in Healthcare Services Group by 22.4% in the 3rd quarter. CWM LLC now owns 19,152 shares of the business services provider’s stock valued at $214,000 after acquiring an additional 3,511 shares during the period. Bleakley Financial Group LLC acquired a new position in Healthcare Services Group in the 3rd quarter valued at about $116,000. Finally, Mitsubishi UFJ Asset Management UK Ltd. increased its position in Healthcare Services Group by 54.3% during the 3rd quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 54,000 shares of the business services provider’s stock worth $603,000 after purchasing an additional 19,000 shares during the period. 97.97% of the stock is 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.