Healthcare Services Group (NASDAQ:HCSG) Price Target Raised to $19.00

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) had its target price hoisted by investment analysts at Benchmark from $17.00 to $19.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the business services provider's stock. Benchmark's price target points to a potential upside of 35.90% from the company's previous close.

Other equities analysts have also issued reports about the stock. UBS Group raised shares of Healthcare Services Group from a "neutral" rating to a "buy" rating and raised their target price for the stock from $12.00 to $15.00 in a research report on Thursday, April 24th. Macquarie lifted their price objective on shares of Healthcare Services Group from $13.00 to $15.00 and gave the company a "neutral" rating in a report on Monday, April 28th. Robert W. Baird lifted their price target on shares of Healthcare Services Group from $13.00 to $15.00 and gave the stock a "neutral" rating in a report on Thursday. Finally, Wall Street Zen raised shares of Healthcare Services Group from a "hold" rating to a "buy" rating in a report on Friday, April 25th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $15.60.

Healthcare Services Group Stock Performance

HCSG traded down $0.65 during trading on Thursday, reaching $13.98. The stock had a trading volume of 323,073 shares, compared to its average volume of 632,383. The stock has a market cap of $1.02 billion, a PE ratio of 24.95 and a beta of 0.57. The business has a 50-day moving average of $14.33 and a 200-day moving average of $12.33. Healthcare Services Group has a one year low of $9.13 and a one year high of $15.73.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last released its earnings results on Wednesday, July 23rd. The business services provider reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.01. The firm had revenue of $458.50 million during the quarter, compared to analyst estimates of $450.78 million. Healthcare Services Group had a net margin of 2.38% and a return on equity of 11.68%. The business's revenue was up 7.6% on a year-over-year basis. During the same period last year, the business earned $0.20 earnings per share. Equities research analysts forecast that Healthcare Services Group will post 0.74 EPS for the current fiscal year.

Institutional Trading of Healthcare Services Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC lifted its holdings in Healthcare Services Group by 1,152.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 166,643 shares of the business services provider's stock worth $1,680,000 after buying an additional 153,333 shares in the last quarter. Palisade Capital Management LP raised its position in Healthcare Services Group by 0.9% during the first quarter. Palisade Capital Management LP now owns 2,237,866 shares of the business services provider's stock worth $22,558,000 after acquiring an additional 20,720 shares during the last quarter. Deutsche Bank AG grew its stake in Healthcare Services Group by 14.8% during the fourth quarter. Deutsche Bank AG now owns 176,825 shares of the business services provider's stock worth $2,055,000 after buying an additional 22,834 shares during the period. Nuveen Asset Management LLC raised its holdings in Healthcare Services Group by 9.1% in the fourth quarter. Nuveen Asset Management LLC now owns 829,322 shares of the business services provider's stock valued at $9,633,000 after acquiring an additional 68,935 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in Healthcare Services Group by 852.4% in the first quarter. GAMMA Investing LLC now owns 20,352 shares of the business services provider's stock worth $2,019,000 after buying an additional 18,215 shares during the period. Hedge funds and other institutional investors own 97.97% of the company's stock.

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.

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