Healthcare Services Group’s (HCSG) Buy Rating Reaffirmed at Benchmark

Benchmark reaffirmed their buy rating on shares of Healthcare Services Group (NASDAQ:HCSG) in a research report released on Thursday morning, Benzinga reports. They currently have a $17.00 target price on the business services provider’s stock.

A number of other equities research analysts also recently weighed in on HCSG. Royal Bank of Canada dropped their target price on Healthcare Services Group from $15.00 to $14.00 and set an outperform rating for the company in a report on Thursday. Robert W. Baird lifted their price objective on shares of Healthcare Services Group from $13.00 to $14.00 and gave the stock a neutral rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Healthcare Services Group currently has an average rating of Hold and an average price target of $14.50.

Healthcare Services Group Stock Performance

NASDAQ HCSG opened at $10.79 on Thursday. The stock has a market cap of $794.68 million, a PE ratio of 18.93 and a beta of 0.53. The firm has a 50-day moving average of $10.82 and a 200-day moving average of $11.12. Healthcare Services Group has a 52-week low of $8.75 and a 52-week high of $13.86.

Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings data on Wednesday, July 24th. The business services provider reported $0.20 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.20. Healthcare Services Group had a net margin of 1.82% and a return on equity of 12.58%. The firm had revenue of $426.30 million during the quarter, compared to the consensus estimate of $424.94 million. During the same period last year, the business posted $0.12 earnings per share. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, analysts predict that Healthcare Services Group will post 0.8 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Healthcare Services Group by 2,692.1% in the 1st 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 buying an additional 944,658 shares in the last quarter. Janus Henderson Group PLC raised its position in Healthcare Services Group by 2,698.7% during the first quarter. Janus Henderson Group PLC now owns 919,069 shares of the business services provider’s stock valued at $11,470,000 after purchasing an additional 886,230 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Healthcare Services Group by 91.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,561,283 shares of the business services provider’s stock valued at $16,191,000 after purchasing an additional 744,527 shares in the last quarter. Azarias Capital Management L.P. lifted its stake in Healthcare Services Group by 50.7% during the second quarter. Azarias Capital Management L.P. now owns 1,226,773 shares of the business services provider’s stock worth $12,979,000 after purchasing an additional 412,704 shares during the last quarter. Finally, Invenomic Capital Management LP acquired a new stake in shares of Healthcare Services Group in the 4th quarter valued at $4,216,000. Institutional investors and hedge funds own 97.97% of the company’s stock.

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.