Healthcare Services Group (NASDAQ:HCSG) Stock Price Passes Above 200-Day Moving Average – Should You Sell?

Healthcare Services Group, Inc. (NASDAQ:HCSG)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $16.72 and traded as high as $19.43. Healthcare Services Group shares last traded at $19.09, with a volume of 475,716 shares trading hands.

Analyst Ratings Changes

HCSG has been the topic of several research analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Healthcare Services Group in a research note on Monday, December 29th. BMO Capital Markets assumed coverage on Healthcare Services Group in a report on Thursday, November 13th. They issued a “market perform” rating and a $20.00 target price for the company. Macquarie restated a “buy” rating on shares of Healthcare Services Group in a research note on Wednesday, November 26th. Zacks Research downgraded Healthcare Services Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 30th. Finally, Wall Street Zen raised shares of Healthcare Services Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 10th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Healthcare Services Group currently has an average rating of “Hold” and a consensus target price of $19.40.

Healthcare Services Group Stock Down 1.2%

The firm has a market capitalization of $1.35 billion, a PE ratio of 35.35 and a beta of 0.71. The company’s 50-day simple moving average is $18.77 and its 200 day simple moving average is $16.72.

Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings data on Wednesday, October 22nd. The business services provider reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. Healthcare Services Group had a net margin of 2.20% and a return on equity of 12.23%. The firm had revenue of $464.34 million for the quarter, compared to the consensus estimate of $460.36 million. During the same quarter in the previous year, the firm earned $0.19 EPS. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. On average, sell-side analysts forecast that Healthcare Services Group, Inc. will post 0.74 earnings per share 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. Miller Global Investments LLC acquired a new stake in shares of Healthcare Services Group in the 4th quarter worth $26,000. EverSource Wealth Advisors LLC raised its stake in Healthcare Services Group by 163.4% in the second quarter. EverSource Wealth Advisors LLC now owns 2,186 shares of the business services provider’s stock valued at $33,000 after buying an additional 1,356 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Healthcare Services Group by 94.9% in the third quarter. GAMMA Investing LLC now owns 2,843 shares of the business services provider’s stock worth $48,000 after acquiring an additional 1,384 shares in the last quarter. USA Financial Formulas purchased a new stake in shares of Healthcare Services Group during the second quarter worth about $60,000. Finally, LSV Asset Management purchased a new stake in shares of Healthcare Services Group during the third quarter worth about $108,000. Hedge funds and other institutional investors own 97.97% of the company’s stock.

About Healthcare Services Group

Healthcare Services Group, Inc (NASDAQ: HCSG) is a leading provider of support services to healthcare facilities across the United States. The company specializes in environmental services, including housekeeping and sanitation, as well as linen and laundry management. In addition, Healthcare Services Group offers dietary and nutrition services, catering to hospitals, skilled nursing facilities, assisted living communities and other long-term care providers.

Founded as a family-owned business in the late 1970s, the company completed its initial public offering in 1997.