Healthcare Services Group (HCSG) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Healthcare Services Group (NASDAQ:HCSG) from a sell rating to a hold rating in a research report released on Thursday.

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. “

A number of other analysts have also issued reports on the stock. ValuEngine lowered shares of Healthcare Services Group from a buy rating to a hold rating in a research note on Wednesday, January 2nd. BidaskClub upgraded Healthcare Services Group from a sell rating to a hold rating in a research report on Wednesday, October 10th. Stephens started coverage on Healthcare Services Group in a report on Tuesday, October 2nd. They issued an overweight rating on the stock. Jefferies Financial Group set a $53.00 price objective on Healthcare Services Group and gave the company a buy rating in a report on Tuesday, October 2nd. Finally, Berenberg Bank initiated coverage on Healthcare Services Group in a research note on Thursday, October 4th. They issued a hold rating and a $40.00 target price for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $45.86.

Shares of HCSG traded up $0.52 on Thursday, reaching $43.78. The company’s stock had a trading volume of 339,996 shares, compared to its average volume of 437,392. The company has a market cap of $3.16 billion, a price-to-earnings ratio of 36.80 and a beta of 0.89. Healthcare Services Group has a 12-month low of $35.04 and a 12-month high of $56.20.

Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings results on Tuesday, October 16th. The business services provider reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.02). Healthcare Services Group had a return on equity of 17.80% and a net margin of 3.59%. The business had revenue of $506.90 million during the quarter, compared to the consensus estimate of $510.27 million. During the same quarter in the prior year, the firm posted $0.31 EPS. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, research analysts predict that Healthcare Services Group will post 1.43 EPS for the current fiscal year.

In other news, Director Robert J. Moss sold 2,000 shares of the company’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $47.55, for a total value of $95,100.00. Following the sale, the director now directly owns 2,000 shares in the company, valued at $95,100. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dino D. Ottaviano sold 700 shares of the company’s stock in a transaction on Friday, November 30th. The shares were sold at an average price of $46.98, for a total value of $32,886.00. Following the completion of the sale, the director now owns 1,244 shares in the company, valued at $58,443.12. The disclosure for this sale can be found here. Insiders have sold 7,701 shares of company stock worth $347,780 in the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wendell David Associates Inc. raised its holdings in Healthcare Services Group by 1.6% in the 4th quarter. Wendell David Associates Inc. now owns 15,850 shares of the business services provider’s stock valued at $637,000 after acquiring an additional 250 shares during the period. Csenge Advisory Group acquired a new position in shares of Healthcare Services Group during the third quarter valued at about $37,000. Metropolitan Life Insurance Co. NY increased its holdings in shares of Healthcare Services Group by 3.6% during the second quarter. Metropolitan Life Insurance Co. NY now owns 43,136 shares of the business services provider’s stock valued at $1,863,000 after acquiring an additional 1,494 shares in the last quarter. Carillon Tower Advisers Inc. increased its holdings in shares of Healthcare Services Group by 2.0% during the third quarter. Carillon Tower Advisers Inc. now owns 87,514 shares of the business services provider’s stock valued at $3,555,000 after acquiring an additional 1,728 shares in the last quarter. Finally, Redmond Asset Management LLC increased its holdings in shares of Healthcare Services Group by 2.2% during the third quarter. Redmond Asset Management LLC now owns 87,090 shares of the business services provider’s stock valued at $3,538,000 after acquiring an additional 1,835 shares in the last quarter.

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 to nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.

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