Healthcare Services Group’s (HCSG) “Buy” Rating Reiterated at Benchmark

Healthcare Services Group (NASDAQ:HCSG)‘s stock had its “buy” rating restated by equities research analysts at Benchmark in a note issued to investors on Thursday, Benzinga reports. They currently have a $17.00 price target on the business services provider’s stock. Benchmark’s price target indicates a potential upside of 60.08% from the stock’s previous close.

HCSG has been the subject of a number of other reports. Royal Bank of Canada decreased their price objective 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. Robert W. Baird decreased their price target on Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $14.00.

Healthcare Services Group Price Performance

Shares of HCSG stock traded up $0.04 during trading hours on Thursday, reaching $10.62. The stock had a trading volume of 162,835 shares, compared to its average volume of 500,298. The firm has a market capitalization of $782.12 million, a PE ratio of 18.58 and a beta of 0.52. The firm has a 50-day simple moving average of $10.72 and a 200-day simple moving average of $10.89. Healthcare Services Group has a twelve month low of $8.75 and a twelve month high of $13.00.

Healthcare Services Group (NASDAQ:HCSG) last posted its earnings results on Wednesday, July 24th. The business services provider reported $0.20 EPS for the quarter, hitting the consensus estimate of $0.20. The firm had revenue of $426.30 million during the quarter, compared to analysts’ expectations of $424.94 million. Healthcare Services Group had a net margin of 1.82% and a return on equity of 12.58%. Healthcare Services Group’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.12 EPS. On average, equities analysts anticipate that Healthcare Services Group will post 0.78 earnings per share for the current year.

Institutional Trading of Healthcare Services Group

Institutional investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its position in Healthcare Services Group by 2,692.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 979,748 shares of the business services provider’s stock worth $13,178,000 after acquiring an additional 944,658 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Healthcare Services Group by 2,698.7% during the first quarter. Janus Henderson Group PLC now owns 919,069 shares of the business services provider’s stock worth $11,470,000 after purchasing an additional 886,230 shares during the period. Azarias Capital Management L.P. grew its position in Healthcare Services Group by 50.7% during the second quarter. Azarias Capital Management L.P. now owns 1,226,773 shares of the business services provider’s stock valued at $12,979,000 after purchasing an additional 412,704 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new position in Healthcare Services Group in the 1st quarter valued at approximately $3,765,000. Finally, Dimensional Fund Advisors LP lifted its position in Healthcare Services Group by 9.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,057,202 shares of the business services provider’s stock worth $21,766,000 after buying an additional 181,231 shares in the last quarter. 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.