Healthcare Services Group (NASDAQ:HCSG) Rating Lowered to Hold at StockNews.com

Healthcare Services Group (NASDAQ:HCSG) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Saturday.

A number of other equities analysts also recently commented on HCSG. Robert W. Baird lowered their price objective on Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. Benchmark reiterated a “buy” rating and set a $17.00 price target on shares of Healthcare Services Group in a report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $14.00.

Healthcare Services Group Trading Down 2.7 %

NASDAQ:HCSG opened at $12.54 on Friday. The company has a market cap of $919.07 million, a P/E ratio of 18.17 and a beta of 0.55. Healthcare Services Group has a twelve month low of $8.98 and a twelve month high of $13.00. The company’s 50-day moving average price is $11.48 and its 200-day moving average price is $11.04.

Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. Healthcare Services Group had a return on equity of 12.59% and a net margin of 2.95%. The business had revenue of $428.10 million during the quarter, compared to analysts’ expectations of $429.95 million. During the same period in the prior year, the business posted $0.17 EPS. The company’s revenue was up 4.1% compared to the same quarter last year. On average, analysts expect that Healthcare Services Group will post 0.81 earnings per share for the current year.

Institutional Trading of Healthcare Services Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in HCSG. Headlands Technologies LLC increased its holdings in shares of Healthcare Services Group by 44.4% in the second quarter. Headlands Technologies LLC now owns 3,107 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 955 shares during the period. Tidal Investments LLC increased its stake in Healthcare Services Group by 1.7% in the 3rd quarter. Tidal Investments LLC now owns 78,218 shares of the business services provider’s stock valued at $874,000 after buying an additional 1,276 shares during the period. The Manufacturers Life Insurance Company raised its position in Healthcare Services Group by 4.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 28,368 shares of the business services provider’s stock worth $300,000 after buying an additional 1,311 shares during the last quarter. ClariVest Asset Management LLC lifted its stake in shares of Healthcare Services Group by 1.2% in the 2nd quarter. ClariVest Asset Management LLC now owns 152,278 shares of the business services provider’s stock worth $1,611,000 after acquiring an additional 1,740 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Healthcare Services Group by 804.0% in the third quarter. Farther Finance Advisors LLC now owns 2,730 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 2,428 shares in the last quarter. 97.97% of the stock is owned by hedge funds and other institutional investors.

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.