Healthcare Services Group (NASDAQ:HCSG) Downgraded by StockNews.com to Hold

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating in a report issued on Wednesday.

Several other equities research analysts also recently commented on HCSG. Robert W. Baird dropped their target price on Healthcare Services Group from $14.00 to $12.00 and set a "neutral" rating on the stock in a report on Thursday, October 24th. Macquarie assumed coverage on Healthcare Services Group in a report on Monday, December 16th. They set a "neutral" rating and a $13.00 price target on the stock. Finally, Benchmark reaffirmed a "buy" rating and set a $17.00 price target on shares of Healthcare Services Group in a report on Thursday, December 19th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Healthcare Services Group currently has a consensus rating of "Hold" and an average price target of $14.00.

Healthcare Services Group Trading Down 2.0 %

Shares of HCSG traded down $0.22 during trading hours on Wednesday, reaching $10.56. 584,544 shares of the company's stock traded hands, compared to its average volume of 455,113. The stock has a market cap of $776.25 million, a PE ratio of 19.56 and a beta of 0.56. The firm's 50 day simple moving average is $11.39 and its 200-day simple moving average is $11.22. Healthcare Services Group has a 12 month low of $9.70 and a 12 month high of $13.00.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last posted its earnings results on Wednesday, February 12th. The business services provider reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.04). Healthcare Services Group had a net margin of 2.30% and a return on equity of 11.76%. As a group, analysts expect that Healthcare Services Group will post 0.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Healthcare Services Group

Institutional investors and hedge funds have recently modified their holdings of the business. PharVision Advisers LLC purchased a new position in Healthcare Services Group during the 4th quarter worth $147,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Healthcare Services Group by 3.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 157,750 shares of the business services provider's stock valued at $1,832,000 after acquiring an additional 5,347 shares during the period. Sovereign s Capital Management LLC purchased a new position in shares of Healthcare Services Group in the 4th quarter valued at $939,000. Squarepoint Ops LLC increased its holdings in shares of Healthcare Services Group by 121.6% in the 4th quarter. Squarepoint Ops LLC now owns 30,023 shares of the business services provider's stock valued at $349,000 after acquiring an additional 16,476 shares during the period. Finally, ProShare Advisors LLC increased its holdings in shares of Healthcare Services Group by 44.5% in the 4th quarter. ProShare Advisors LLC now owns 22,173 shares of the business services provider's stock valued at $258,000 after acquiring an additional 6,824 shares during the period. 97.97% of the stock is owned by 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.