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

StockNews.com upgraded shares of Healthcare Services Group (NASDAQ:HCSG) from a hold rating to a buy rating in a research note released on Tuesday morning.

HCSG has been the topic of several other reports. Robert W. Baird decreased their target price on shares of Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, October 24th. Benchmark reissued a “buy” rating and issued a $17.00 target price on shares of Healthcare Services Group in a research report on Thursday, December 19th. Finally, Macquarie initiated coverage on shares of Healthcare Services Group in a research report on Monday, December 16th. They issued a “neutral” rating and a $13.00 target price on the stock. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.80.

Healthcare Services Group Price Performance

Shares of NASDAQ HCSG opened at $11.31 on Tuesday. The company has a market cap of $828.91 million, a PE ratio of 16.39 and a beta of 0.56. Healthcare Services Group has a 12 month low of $9.70 and a 12 month high of $13.00. The company has a 50-day simple moving average of $11.60 and a 200-day simple moving average of $11.24.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Jane Street Group LLC lifted its position in shares of Healthcare Services Group by 80.8% during the third quarter. Jane Street Group LLC now owns 175,444 shares of the business services provider’s stock worth $1,960,000 after purchasing an additional 78,391 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Healthcare Services Group by 11.0% during 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 in the last quarter. Geode Capital Management LLC lifted its position in shares of Healthcare Services Group by 2.9% during the third quarter. Geode Capital Management LLC now owns 1,760,971 shares of the business services provider’s stock worth $19,674,000 after purchasing an additional 50,375 shares in the last quarter. Foundry Partners LLC lifted its position in shares of 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 worth $9,015,000 after purchasing an additional 374,301 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Healthcare Services Group by 39.9% during the third quarter. Franklin Resources Inc. now owns 560,588 shares of the business services provider’s stock worth $5,858,000 after purchasing an additional 159,878 shares in the last quarter. 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.