Robert W. Baird Lowers Healthcare Services Group (NASDAQ:HCSG) Price Target to $12.00

Healthcare Services Group (NASDAQ:HCSG) had its price target lowered by equities research analysts at Robert W. Baird from $14.00 to $12.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the business services provider’s stock. Robert W. Baird’s target price indicates a potential upside of 11.73% from the company’s current price.

A number of other equities analysts have also recently weighed in on HCSG. Royal Bank of Canada lowered their price target on Healthcare Services Group from $15.00 to $14.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. Benchmark reiterated a “buy” rating and set a $17.00 price target on shares of Healthcare Services Group in a research report on Thursday, July 25th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $14.00.

Healthcare Services Group Price Performance

Shares of HCSG stock opened at $10.74 on Thursday. The company has a market capitalization of $790.96 million, a PE ratio of 18.84 and a beta of 0.52. The firm’s 50-day moving average is $10.72 and its two-hundred day moving average is $10.88. Healthcare Services Group has a 12 month low of $8.94 and a 12 month high of $13.00.

Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $0.19 EPS for the quarter, beating the consensus estimate of $0.16 by $0.03. The firm had revenue of $428.10 million for the quarter, compared to analyst estimates of $429.95 million. Healthcare Services Group had a net margin of 1.82% and a return on equity of 12.58%. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.17 EPS. Sell-side analysts forecast that Healthcare Services Group will post 0.78 EPS for the current year.

Hedge Funds Weigh In On Healthcare Services Group

Hedge funds have recently bought and sold shares of the company. Headlands Technologies LLC purchased a new stake in Healthcare Services Group during the first quarter worth about $27,000. Financial Management Professionals Inc. acquired a new position in shares of Healthcare Services Group in the first quarter valued at approximately $55,000. PNC Financial Services Group Inc. increased its stake in Healthcare Services Group by 38.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,186 shares of the business services provider’s stock worth $64,000 after buying an additional 1,714 shares during the period. Bleakley Financial Group LLC acquired a new stake in Healthcare Services Group during the 3rd quarter worth approximately $116,000. Finally, Hennion & Walsh Asset Management Inc. purchased a new position in Healthcare Services Group in the 2nd quarter valued at approximately $124,000. Institutional investors and hedge funds own 97.97% of the company’s stock.

About Healthcare Services Group

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.