Healthcare Services Group (HCSG) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Healthcare Services Group (NASDAQ:HCSG) from a hold rating to a buy rating in a research note issued to investors on Tuesday. Zacks Investment Research currently has $60.00 price objective on the business services provider’s stock.

According to Zacks, “Healthcare Services Group, Inc. provides housekeeping, laundry, linen, facility maintenance and food services to the health care industry, including nursing homes, retirement complexes, rehabilitation centers and hospitals. Healthcare Services Group has the experience and expertise to meet these needs, making the preferred choice for hospital and senior living clients nationwide. Healthcare Services Group has delivered exceptional housekeeping/laundry and dining/nutrition services to an ever-changing healthcare industry. Healthcare Services provide professional management of ancillary services to a diverse mix of satisfied clients. Flexible and responsive, our people are trained to help you achieve success by delivering innovative solutions, exceptional performance and measurable results. “

HCSG has been the subject of several other reports. BidaskClub upgraded shares of Healthcare Services Group from a sell rating to a hold rating in a report on Friday, January 26th. Credit Suisse Group restated an outperform rating and set a $62.00 price target (up from $56.00) on shares of Healthcare Services Group in a report on Friday, November 3rd. Jefferies Group set a $52.00 price target on shares of Healthcare Services Group and gave the stock a hold rating in a report on Thursday, October 19th. Finally, Stifel Nicolaus restated a buy rating on shares of Healthcare Services Group in a report on Thursday, October 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. Healthcare Services Group presently has a consensus rating of Hold and an average target price of $55.20.

Healthcare Services Group (NASDAQ HCSG) opened at $49.10 on Tuesday. The firm has a market cap of $3,632.14, a P/E ratio of 41.61, a PEG ratio of 2.87 and a beta of 0.62. Healthcare Services Group has a 1 year low of $39.75 and a 1 year high of $56.20.

Healthcare Services Group (NASDAQ:HCSG) last posted its quarterly earnings results on Tuesday, February 6th. The business services provider reported $0.27 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.04). The company had revenue of $499.41 million for the quarter, compared to analyst estimates of $499.37 million. Healthcare Services Group had a return on equity of 23.17% and a net margin of 4.73%. The business’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.28 earnings per share. sell-side analysts anticipate that Healthcare Services Group will post 1.57 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Friday, February 16th will be issued a dividend of $0.1913 per share. This is a boost from Healthcare Services Group’s previous quarterly dividend of $0.19. This represents a $0.77 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Thursday, February 15th. Healthcare Services Group’s dividend payout ratio (DPR) is currently 64.41%.

Hedge funds have recently bought and sold shares of the stock. Wasatch Advisors Inc. lifted its stake in Healthcare Services Group by 143.9% in the fourth quarter. Wasatch Advisors Inc. now owns 3,044,131 shares of the business services provider’s stock valued at $160,487,000 after acquiring an additional 1,795,855 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Healthcare Services Group by 173.5% in the second quarter. Janus Henderson Group PLC now owns 2,085,372 shares of the business services provider’s stock valued at $97,658,000 after acquiring an additional 1,322,948 shares during the last quarter. Brown Advisory Inc. lifted its stake in Healthcare Services Group by 3.3% in the third quarter. Brown Advisory Inc. now owns 1,957,120 shares of the business services provider’s stock valued at $105,625,000 after acquiring an additional 63,232 shares during the last quarter. State Street Corp lifted its stake in Healthcare Services Group by 4.3% in the second quarter. State Street Corp now owns 1,752,352 shares of the business services provider’s stock valued at $82,064,000 after acquiring an additional 71,873 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Healthcare Services Group by 0.7% in the third quarter. Dimensional Fund Advisors LP now owns 1,174,277 shares of the business services provider’s stock valued at $63,377,000 after acquiring an additional 8,472 shares during the last quarter. Institutional investors and hedge funds own 93.40% of the company’s stock.

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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 the healthcare industry, including nursing homes, retirement complexes, rehabilitation centers and hospitals located throughout the United States.

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