Healthcare Services Group (NASDAQ:HCSG) Hits New 52-Week High - Here's What Happened

Healthcare Services Group, Inc. (NASDAQ:HCSG - Get Free Report)'s stock price hit a new 52-week high during trading on Monday . The company traded as high as $15.34 and last traded at $15.14, with a volume of 317507 shares traded. The stock had previously closed at $14.65.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on HCSG shares. Macquarie lifted their target price on shares of Healthcare Services Group from $13.00 to $15.00 and gave the stock a "neutral" rating in a research report on Monday, April 28th. Robert W. Baird boosted their price objective on Healthcare Services Group from $12.00 to $13.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. Wall Street Zen raised shares of Healthcare Services Group from a "hold" rating to a "buy" rating in a report on Friday, April 25th. Finally, UBS Group raised shares of Healthcare Services Group from a "neutral" rating to a "buy" rating and raised their price target for the stock from $12.00 to $15.00 in a report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $14.80.

Healthcare Services Group Trading Up 1.8%

The firm has a market cap of $1.09 billion, a P/E ratio of 27.61 and a beta of 0.55. The business's fifty day simple moving average is $13.29 and its 200-day simple moving average is $11.91.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The business services provider reported $0.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.18 by $0.05. The business had revenue of $447.66 million for the quarter, compared to analyst estimates of $443.82 million. Healthcare Services Group had a net margin of 2.30% and a return on equity of 11.76%. The company's revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.22 EPS. Analysts anticipate that Healthcare Services Group, Inc. will post 0.74 earnings per share for the current year.

Institutional Investors Weigh In On Healthcare Services Group

A number of large investors have recently modified their holdings of the stock. Strs Ohio bought a new stake in shares of Healthcare Services Group during the 1st quarter valued at about $552,000. Intech Investment Management LLC boosted its stake in shares of Healthcare Services Group by 940.5% during the 1st quarter. Intech Investment Management LLC now owns 318,488 shares of the business services provider's stock valued at $3,210,000 after purchasing an additional 287,878 shares in the last quarter. Jane Street Group LLC boosted its stake in shares of Healthcare Services Group by 962.0% during the 1st quarter. Jane Street Group LLC now owns 200,082 shares of the business services provider's stock valued at $2,017,000 after purchasing an additional 181,242 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Healthcare Services Group during the 1st quarter valued at about $242,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Healthcare Services Group by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,704 shares of the business services provider's stock valued at $441,000 after purchasing an additional 1,824 shares in the last quarter. 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.