Analysts Set Healthcare Services Group, Inc. (NASDAQ:HCSG) Target Price at $13.80

Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG - Get Free Report) have been assigned an average rating of "Hold" from the five brokerages that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $13.80.

Several brokerages have recently weighed in on HCSG. Robert W. Baird reduced their price target on Healthcare Services Group from $14.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday, October 24th. StockNews.com cut shares of Healthcare Services Group from a "buy" rating to a "hold" rating in a report on Saturday, December 14th. Benchmark restated a "buy" rating and set a $17.00 price target on shares of Healthcare Services Group in a research note on Thursday, December 19th. Finally, Macquarie initiated coverage on shares of Healthcare Services Group in a research note on Monday, December 16th. They issued a "neutral" rating and a $13.00 price objective on the stock.

Hedge Funds Weigh In On Healthcare Services Group

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in shares of Healthcare Services Group by 100.8% in the fourth quarter. GAMMA Investing LLC now owns 2,137 shares of the business services provider's stock worth $25,000 after purchasing an additional 1,073 shares in the last quarter. Confluence Investment Management LLC increased its stake in Healthcare Services Group by 1.1% in the 4th quarter. Confluence Investment Management LLC now owns 168,841 shares of the business services provider's stock worth $1,961,000 after buying an additional 1,897 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Healthcare Services Group by 11.0% during the third quarter. JPMorgan Chase & Co. now owns 773,635 shares of the business services provider's stock valued at $8,642,000 after acquiring an additional 76,456 shares during the period. Franklin Resources Inc. lifted its position in shares of Healthcare Services Group by 39.9% in the third quarter. Franklin Resources Inc. now owns 560,588 shares of the business services provider's stock valued at $5,858,000 after acquiring an additional 159,878 shares in the last quarter. Finally, Tidal Investments LLC boosted its stake in shares of Healthcare Services Group by 1.7% in the third quarter. Tidal Investments LLC now owns 78,218 shares of the business services provider's stock worth $874,000 after acquiring an additional 1,276 shares during the period. Hedge funds and other institutional investors own 97.97% of the company's stock.

Healthcare Services Group Price Performance

NASDAQ HCSG traded down $0.35 during trading hours on Friday, reaching $11.47. 494,232 shares of the company's stock traded hands, compared to its average volume of 401,076. The firm has a market cap of $840.65 million, a PE ratio of 16.62 and a beta of 0.56. Healthcare Services Group has a 52-week low of $8.98 and a 52-week high of $13.00. The firm has a 50-day simple moving average of $11.89 and a 200 day simple moving average of $11.19.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last released its earnings results on Wednesday, October 23rd. The business services provider reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.03. Healthcare Services Group had a net margin of 2.95% and a return on equity of 12.59%. The firm had revenue of $428.10 million during the quarter, compared to analyst estimates of $429.95 million. During the same period last year, the business earned $0.17 earnings per share. The business's revenue was up 4.1% on a year-over-year basis. Sell-side analysts forecast that Healthcare Services Group will post 0.81 EPS for the current fiscal year.

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