Healthcare Services Group (NASDAQ:HCSG) Hits New 52-Week High Following Analyst Upgrade

Healthcare Services Group, Inc. (NASDAQ:HCSG - Get Free Report)'s stock price hit a new 52-week high during trading on Friday after Robert W. Baird raised their price target on the stock from $12.00 to $13.00. Robert W. Baird currently has a neutral rating on the stock. Healthcare Services Group traded as high as $13.56 and last traded at $13.52, with a volume of 2132211 shares changing hands. The stock had previously closed at $12.19.

Other equities analysts have also issued reports about the company. UBS Group upgraded Healthcare Services Group from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $12.00 to $15.00 in a research report on Thursday. StockNews.com lowered shares of Healthcare Services Group from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Healthcare Services Group has an average rating of "Moderate Buy" and an average target price of $14.40.

Hedge Funds Weigh In On Healthcare Services Group

Hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in shares of Healthcare Services Group by 11.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 773,635 shares of the business services provider's stock worth $8,642,000 after purchasing an additional 76,456 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Healthcare Services Group by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,760,971 shares of the business services provider's stock valued at $19,674,000 after acquiring an additional 50,375 shares during the period. Global Alpha Capital Management Ltd. acquired a new position in shares of Healthcare Services Group during the 4th quarter worth about $822,000. Franklin Resources Inc. raised its holdings in shares of Healthcare Services Group by 39.9% in the 3rd quarter. Franklin Resources Inc. now owns 560,588 shares of the business services provider's stock valued at $5,858,000 after purchasing an additional 159,878 shares during the period. Finally, Barclays PLC lifted its stake in Healthcare Services Group by 169.3% in the 3rd quarter. Barclays PLC now owns 145,926 shares of the business services provider's stock valued at $1,631,000 after purchasing an additional 91,733 shares during the last quarter. Institutional investors own 97.97% of the company's stock.

Healthcare Services Group Stock Up 10.9 %

The business has a fifty day moving average of $10.39 and a 200 day moving average of $11.09. The firm has a market cap of $985.82 million, a P/E ratio of 25.04 and a beta of 0.62.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The business services provider reported $0.23 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.05. Healthcare Services Group had a return on equity of 11.76% and a net margin of 2.30%. The business had revenue of $447.66 million for the quarter, compared to analyst estimates of $443.82 million. Research analysts expect that Healthcare Services Group, Inc. will post 0.74 EPS for the current 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.