Healthcare Services Group (NASDAQ:HCSG) Reaches New 1-Year High – Time to Buy?

Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) reached a new 52-week high on Monday . The company traded as high as $14.90 and last traded at $14.55, with a volume of 47009 shares trading hands. The stock had previously closed at $14.27.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on HCSG shares. UBS Group raised Healthcare Services Group from a “neutral” rating to a “buy” rating and increased their price target for the company from $12.00 to $15.00 in a research note on Thursday, April 24th. Macquarie increased their price target on Healthcare Services Group from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Monday, April 28th. Robert W. Baird increased their price target on Healthcare Services Group from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Thursday, April 24th. Finally, StockNews.com raised Healthcare Services Group from a “hold” rating to a “buy” rating in a research note on Friday, April 25th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Healthcare Services Group presently has a consensus rating of “Moderate Buy” and an average target price of $14.80.

Healthcare Services Group Trading Up 0.2%

The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 26.89 and a beta of 0.55. The company has a 50 day moving average of $11.38 and a 200 day moving average of $11.45.

Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings results on Wednesday, April 23rd. The business services provider reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.05. Healthcare Services Group had a return on equity of 11.76% and a net margin of 2.30%. The firm had revenue of $447.66 million for the quarter, compared to the consensus estimate of $443.82 million. During the same quarter last year, the business posted $0.22 EPS. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. Equities analysts forecast that Healthcare Services Group, Inc. will post 0.74 EPS for the current fiscal year.

Institutional Trading of Healthcare Services Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. Trail Ridge Investment Advisors LLC raised its stake in shares of Healthcare Services Group by 4.7% in the 1st quarter. Trail Ridge Investment Advisors LLC now owns 23,233 shares of the business services provider’s stock valued at $234,000 after purchasing an additional 1,048 shares during the period. GAMMA Investing LLC grew its holdings in shares of Healthcare Services Group by 100.8% in the 4th quarter. GAMMA Investing LLC now owns 2,137 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 1,073 shares in the last quarter. SummerHaven Investment Management LLC grew its holdings in shares of Healthcare Services Group by 1.8% in the 1st quarter. SummerHaven Investment Management LLC now owns 73,841 shares of the business services provider’s stock valued at $744,000 after acquiring an additional 1,297 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Healthcare Services Group by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,880 shares of the business services provider’s stock valued at $486,000 after acquiring an additional 1,461 shares in the last quarter. Finally, North Star Investment Management Corp. grew its holdings in shares of Healthcare Services Group by 1.8% in the 1st quarter. North Star Investment Management Corp. now owns 102,950 shares of the business services provider’s stock valued at $1,038,000 after acquiring an additional 1,850 shares in the last quarter. 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.