Healthcare Services Group, Inc. (NASDAQ:HCSG) Receives $24.00 Average Price Target from Analysts

Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) have received an average rating of “Moderate Buy” from the nine analysts that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $24.00.

A number of research analysts recently issued reports on the company. Royal Bank Of Canada lifted their target price on Healthcare Services Group from $22.00 to $24.00 and gave the stock a “sector perform” rating in a report on Thursday, April 23rd. BMO Capital Markets lifted their target price on Healthcare Services Group from $22.00 to $24.00 and gave the stock a “market perform” rating in a report on Thursday, April 23rd. Benchmark increased their price target on Healthcare Services Group from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Wall Street Zen upgraded Healthcare Services Group from a “hold” rating to a “buy” rating in a research report on Sunday, March 29th. Finally, William Blair upgraded Healthcare Services Group from a “market perform” rating to an “outperform” rating in a research report on Friday, February 20th.

Insider Buying and Selling at Healthcare Services Group

In related news, CAO Andrew M. Brophy sold 2,490 shares of the stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $21.75, for a total value of $54,157.50. Following the completion of the transaction, the chief accounting officer owned 15,735 shares in the company, valued at $342,236.25. This trade represents a 13.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Healthcare Services Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Cetera Investment Advisers boosted its position in shares of Healthcare Services Group by 4.3% in the 4th quarter. Cetera Investment Advisers now owns 14,052 shares of the business services provider’s stock valued at $269,000 after purchasing an additional 581 shares during the period. Amalgamated Bank boosted its position in Healthcare Services Group by 3.4% during the 3rd quarter. Amalgamated Bank now owns 21,563 shares of the business services provider’s stock worth $363,000 after acquiring an additional 719 shares during the period. Sanctuary Advisors LLC boosted its position in Healthcare Services Group by 3.8% during the 4th quarter. Sanctuary Advisors LLC now owns 20,151 shares of the business services provider’s stock worth $385,000 after acquiring an additional 738 shares during the period. GAMMA Investing LLC boosted its position in Healthcare Services Group by 29.7% during the 4th quarter. GAMMA Investing LLC now owns 3,688 shares of the business services provider’s stock worth $71,000 after acquiring an additional 845 shares during the period. Finally, Farther Finance Advisors LLC boosted its position in Healthcare Services Group by 32.0% during the 4th quarter. Farther Finance Advisors LLC now owns 3,619 shares of the business services provider’s stock worth $69,000 after acquiring an additional 877 shares during the period. Institutional investors and hedge funds own 97.97% of the company’s stock.

Healthcare Services Group Stock Down 2.9%

NASDAQ:HCSG opened at $20.21 on Friday. The business’s 50-day moving average price is $20.17 and its 200 day moving average price is $19.58. The firm has a market cap of $1.39 billion, a P/E ratio of 21.05 and a beta of 0.85. Healthcare Services Group has a 52-week low of $12.66 and a 52-week high of $24.39.

Healthcare Services Group (NASDAQ:HCSG) last released its earnings results on Wednesday, April 22nd. The business services provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.15. The firm had revenue of $462.77 million for the quarter, compared to analyst estimates of $479.79 million. Healthcare Services Group had a return on equity of 17.81% and a net margin of 3.67%.Healthcare Services Group’s revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.23 earnings per share. Sell-side analysts expect that Healthcare Services Group will post 1.01 EPS for the current year.

Healthcare Services Group Company Profile

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.