Healthcare Services Group (NASDAQ:HCSG) Hits New 1-Year High - Time to Buy?

Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG - Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $14.90 and last traded at $14.55, with a volume of 47009 shares traded. The stock had previously closed at $14.27.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on HCSG. Macquarie raised their price objective 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. UBS Group raised shares of Healthcare Services Group from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $12.00 to $15.00 in a research report on Thursday, April 24th. Robert W. Baird raised their price objective on shares of Healthcare Services Group from $12.00 to $13.00 and gave the stock a "neutral" rating in a research report on Thursday, April 24th. Finally, StockNews.com raised shares of Healthcare Services Group from a "hold" rating to a "buy" rating in a research report on Friday, April 25th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $14.80.

Healthcare Services Group Trading Up 2.4%

The firm's 50-day moving average is $11.60 and its 200-day moving average is $11.52. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 27.41 and a beta of 0.55.

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

Institutional Investors Weigh In On Healthcare Services Group

A number of hedge funds have recently made changes to their positions in HCSG. Global Alpha Capital Management Ltd. purchased a new stake in Healthcare Services Group in the 4th quarter worth about $822,000. Legato Capital Management LLC increased its holdings in Healthcare Services Group by 215.5% in the 4th quarter. Legato Capital Management LLC now owns 139,263 shares of the business services provider's stock worth $1,618,000 after acquiring an additional 95,118 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Healthcare Services Group by 4.6% in the 4th quarter. Envestnet Asset Management Inc. now owns 144,562 shares of the business services provider's stock worth $1,679,000 after acquiring an additional 6,303 shares during the last quarter. New York State Common Retirement Fund increased its holdings in Healthcare Services Group by 16.9% in the 4th quarter. New York State Common Retirement Fund now owns 720,267 shares of the business services provider's stock worth $8,366,000 after acquiring an additional 104,157 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in Healthcare Services Group by 34.1% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 25,643 shares of the business services provider's stock worth $298,000 after acquiring an additional 6,524 shares during the last quarter. 97.97% of the stock is currently owned by institutional investors.

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.