Healthcare Services Group (NASDAQ:HCSG) Given New $24.00 Price Target at Robert W. Baird

Key Points

• Robert W. Baird cut Healthcare Services Group’s price target to $24 from $26 while maintaining a “neutral” rating, implying roughly 15.4% upside from the reported share price.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $26.67; six analysts rate the stock a Buy and four rate it a Hold.
• HCSG reported quarterly EPS of $0.32, beating the $0.22 consensus estimate, while revenue of $470.81 million was broadly in line with expectations. The stock opened at $20.79 and was down 1.6% in the session.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) had its price objective cut by equities research analysts at Robert W. Baird from $26.00 to $24.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a "neutral" rating on the business services provider's stock. Robert W. Baird's price objective indicates a potential upside of 15.44% from the company's current price.

A number of other research analysts have also recently issued reports on HCSG. Zacks Research cut Healthcare Services Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 29th. Oppenheimer began coverage on Healthcare Services Group in a research report on Wednesday, August 19th. They set an "outperform" rating and a $28.00 price target on the stock. UBS Group lifted their price objective on Healthcare Services Group from $27.00 to $30.00 and gave the company a "buy" rating in a report on Wednesday, July 8th. Wall Street Zen lowered Healthcare Services Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Finally, Weiss Ratings raised Healthcare Services Group from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, September 25th. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $26.67.

Healthcare Services Group Trading Down 1.6%

NASDAQ HCSG opened at $20.79 on Thursday. Healthcare Services Group has a 12 month low of $15.13 and a 12 month high of $25.75. The stock has a 50-day simple moving average of $21.85 and a 200 day simple moving average of $21.70. The company has a market capitalization of $1.43 billion, a PE ratio of 12.09 and a beta of 0.81.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.10. The company had revenue of $470.81 million during the quarter, compared to analysts' expectations of $471.22 million. Healthcare Services Group had a return on equity of 18.97% and a net margin of 6.59%.During the same period in the prior year, the business posted ($0.44) EPS. As a group, sell-side analysts predict that Healthcare Services Group will post 1.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Healthcare Services Group news, COO Andrew Kush sold 15,598 shares of the company's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $23.24, for a total transaction of $362,497.52. Following the completion of the transaction, the chief operating officer owned 22,741 shares of the company's stock, valued at $528,500.84. This represents a 40.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Healthcare Services Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HCSG. WINTON GROUP Ltd grew its holdings in shares of Healthcare Services Group by 6.2% in the 2nd quarter. WINTON GROUP Ltd now owns 66,948 shares of the business services provider's stock valued at $1,644,000 after acquiring an additional 3,904 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in Healthcare Services Group during the second quarter worth about $160,000. Nykredit A S bought a new stake in Healthcare Services Group during the second quarter worth about $28,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Healthcare Services Group during the second quarter valued at approximately $533,000. Finally, Public Employees Retirement System of Ohio acquired a new position in Healthcare Services Group during the second quarter valued at approximately $66,000. 97.97% of the stock is currently owned by institutional investors and hedge funds.

Healthcare Services Group Company Profile

Healthcare Services Group, Inc NASDAQ: HCSG provides outsourced support services to healthcare and senior-living facilities in the United States. Its primary customers include skilled nursing facilities, nursing homes, continuing care retirement communities and other healthcare-related organizations.

The company's services are organized primarily around housekeeping and dining operations. Housekeeping services include cleaning, laundry and related environmental services, while dining services may include food procurement, meal preparation, dietary management and other support for resident and patient meal programs.

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