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

Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG - Get Free Report) reached a new 52-week high during mid-day trading on Friday after Macquarie raised their price target on the stock from $13.00 to $15.00. Macquarie 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.

A number of other equities analysts have also issued reports on HCSG. StockNews.com raised Healthcare Services Group from a "hold" rating to a "buy" rating in a report on Friday, April 25th. Robert W. Baird increased their target price on shares of Healthcare Services Group from $12.00 to $13.00 and gave the company a "neutral" rating in a research note on Thursday, April 24th. Finally, UBS Group upgraded Healthcare Services Group from a "neutral" rating to a "buy" rating and increased their price target for the company from $12.00 to $15.00 in a research report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $14.80.

Institutional Trading of Healthcare Services Group

Several institutional investors have recently made changes to their positions in HCSG. GAMMA Investing LLC increased its holdings in 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 buying an additional 1,073 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Healthcare Services Group during the 4th quarter worth $25,000. Sterling Capital Management LLC raised its holdings in shares of Healthcare Services Group by 803.4% during the 4th quarter. Sterling Capital Management LLC now owns 2,358 shares of the business services provider's stock valued at $27,000 after purchasing an additional 2,097 shares in the last quarter. Bank of Montreal Can acquired a new stake in shares of Healthcare Services Group in the 4th quarter valued at $118,000. Finally, Ieq Capital LLC bought a new stake in Healthcare Services Group in the fourth quarter worth $118,000. 97.97% of the stock is currently owned by institutional investors and hedge funds.

Healthcare Services Group Stock Up 1.3 %

The company's 50-day simple moving average is $10.65 and its 200 day simple moving average is $11.20. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 26.32 and a beta of 0.62.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The business services provider reported $0.23 EPS for the quarter, beating 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. During the same quarter in the prior year, the firm posted $0.22 EPS. The firm's revenue for the quarter was up 5.7% on a year-over-year basis. On average, equities analysts expect that Healthcare Services Group, Inc. will post 0.74 earnings per share 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.