Healthcare Services Group (NASDAQ:HCSG) Stock Rating Lowered by Zacks Research

Healthcare Services Group (NASDAQ:HCSG) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks reports.

Several other analysts have also recently commented on HCSG. Weiss Ratings upgraded Healthcare Services Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, September 25th. UBS Group increased their price objective on shares of Healthcare Services Group from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Oppenheimer assumed coverage on shares of Healthcare Services Group in a research report on Wednesday, August 19th. They issued an “outperform” rating and a $28.00 target price on the stock. Finally, Wall Street Zen downgraded shares of Healthcare Services Group from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $26.50.

Healthcare Services Group Stock Down 2.2%

Shares of Healthcare Services Group stock opened at $20.45 on Tuesday. Healthcare Services Group has a fifty-two week low of $15.13 and a fifty-two week high of $25.75. The business’s fifty day moving average is $22.07 and its two-hundred day moving average is $21.65. The firm has a market cap of $1.40 billion, a PE ratio of 11.89 and a beta of 0.80.

Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.10. The business had revenue of $470.81 million during the quarter, compared to the consensus estimate of $471.22 million. Healthcare Services Group had a return on equity of 18.97% and a net margin of 6.59%.During the same quarter in the previous year, the business earned ($0.44) earnings per share. Equities research analysts anticipate that Healthcare Services Group will post 1.14 EPS for the current year.

Insider Transactions at Healthcare Services Group

In other Healthcare Services Group news, COO Andrew Kush sold 15,598 shares of the company’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $23.24, for a total transaction of $362,497.52. Following the completion of the sale, the chief operating officer directly owned 22,741 shares in the company, valued at $528,500.84. This represents a 40.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Healthcare Services Group

Several hedge funds and other institutional investors have recently modified their holdings of HCSG. Nykredit A S acquired a new stake in Healthcare Services Group during the 2nd quarter worth approximately $28,000. KBC Group NV purchased a new position in Healthcare Services Group in the first quarter valued at approximately $35,000. Allworth Financial LP acquired a new position in Healthcare Services Group during the second quarter valued at approximately $55,000. Public Employees Retirement System of Ohio acquired a new position in Healthcare Services Group during the second quarter valued at approximately $66,000. Finally, Integrated Wealth Concepts LLC purchased a new stake in Healthcare Services Group during the second quarter worth approximately $160,000. 97.97% of the stock is owned by institutional investors and hedge funds.

About Healthcare Services Group

Healthcare Services Group, Inc (NASDAQ:HCSG) provides outsourced support services to healthcare and senior living facilities across the United States. Its primary customers include nursing homes, post-acute care centers, hospitals, assisted living communities and other healthcare-related facilities.

The company operates through two principal service areas. Its environmental services business provides housekeeping, laundry and linen management, waste handling and related services. Its dietary services business supports food procurement, meal preparation, dining operations and nutrition-related programs for residents and patients.

Healthcare Services Group was founded in 1976 and has historically focused on helping healthcare providers manage nonclinical operations through contract-based services.