Healthcare Services Group (NASDAQ:HCSG) Stock Price Target Lowered at Robert W. Baird

Healthcare Services Group (NASDAQ:HCSG) had its target price decreased by stock analysts at Robert W. Baird from $26.00 to $24.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the business services provider’s stock. Robert W. Baird’s price objective would suggest a potential upside of 15.44% from the company’s current price.

Several other equities analysts have also weighed in on the stock. Oppenheimer started coverage on shares of Healthcare Services Group in a research report on Wednesday, August 19th. They issued an “outperform” rating and a $28.00 price objective on the stock. UBS Group lifted their target price 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. Weiss Ratings raised shares of Healthcare Services Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, September 25th. Zacks Research downgraded shares of Healthcare Services Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 29th. Finally, Wall Street Zen downgraded shares of Healthcare Services Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Healthcare Services Group currently has an average rating of “Moderate Buy” and an average price target of $26.67.

Healthcare Services Group Price Performance

Healthcare Services Group stock opened at $20.79 on Thursday. The company’s 50-day moving average is $21.85 and its 200-day moving average is $21.70. The firm has a market capitalization of $1.43 billion, a PE ratio of 12.09 and a beta of 0.81. Healthcare Services Group has a fifty-two week low of $15.13 and a fifty-two week high of $25.75.

Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.10. Healthcare Services Group had a return on equity of 18.97% and a net margin of 6.59%.The firm had revenue of $470.81 million for the quarter, compared to the consensus estimate of $471.22 million. During the same quarter in the previous year, the business earned ($0.44) earnings per share. As a group, analysts expect 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 stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $23.24, for a total transaction of $362,497.52. Following the transaction, the chief operating officer owned 22,741 shares in the company, valued at $528,500.84. This represents a 40.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Healthcare Services Group

Hedge funds have recently added to or reduced their stakes in the stock. WINTON GROUP Ltd grew its holdings in shares of Healthcare Services Group by 6.2% during the 2nd quarter. WINTON GROUP Ltd now owns 66,948 shares of the business services provider’s stock worth $1,644,000 after purchasing an additional 3,904 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in Healthcare Services Group in the second quarter valued at about $160,000. Nykredit A S acquired a new position in Healthcare Services Group in the second quarter valued at about $28,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Healthcare Services Group during the second quarter worth about $533,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Healthcare Services Group during the second quarter worth about $66,000. Institutional investors own 97.97% of the company’s stock.

Healthcare Services Group Company Profile

Healthcare Services Group, Inc (NASDAQ:HCSG) provides outsourced support services to healthcare and senior-living facilities in the United States. Its primary customers include skilled nursing facilities, nursing homes, continuing care retirement communities and other healthcare-related organizations.

The company’s services are organized primarily around housekeeping and dining operations. Housekeeping services include cleaning, laundry and related environmental services, while dining services may include food procurement, meal preparation, dietary management and other support for resident and patient meal programs.