Healthcare Services Group (NASDAQ:HCSG) Hits New 12-Month High - Here's Why

Healthcare Services Group, Inc. (NASDAQ:HCSG - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $15.52 and last traded at $15.47, with a volume of 111966 shares traded. The stock had previously closed at $15.03.

Analyst Upgrades and Downgrades

Several research firms recently commented on HCSG. Robert W. Baird lifted their price objective on Healthcare Services Group from $12.00 to $13.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. UBS Group upgraded shares of Healthcare Services Group from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $12.00 to $15.00 in a research note 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, Macquarie raised their target price on shares of Healthcare Services Group from $13.00 to $15.00 and gave the stock a "neutral" rating in a report on Monday, April 28th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $14.80.

Healthcare Services Group Stock Performance

The company has a market capitalization of $1.12 billion, a P/E ratio of 27.34 and a beta of 0.57. The stock has a fifty day moving average of $14.48 and a 200 day moving average of $12.11.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The business services provider reported $0.23 EPS for the quarter, topping the consensus estimate of $0.18 by $0.05. The firm had revenue of $447.66 million for the quarter, compared to the consensus estimate of $443.82 million. Healthcare Services Group had a return on equity of 11.68% and a net margin of 2.38%. The business's revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.22 earnings per share. Research analysts anticipate that Healthcare Services Group, Inc. will post 0.74 EPS for the current fiscal year.

Institutional Trading of Healthcare Services Group

A number of hedge funds and other institutional investors have recently modified their holdings of HCSG. SBI Securities Co. Ltd. purchased a new position in shares of Healthcare Services Group during the 4th quarter valued at $25,000. Sterling Capital Management LLC boosted its stake in shares of Healthcare Services Group by 803.4% in the fourth quarter. Sterling Capital Management LLC now owns 2,358 shares of the business services provider's stock worth $27,000 after acquiring an additional 2,097 shares during the period. US Bancorp DE boosted its stake in shares of Healthcare Services Group by 161.4% in the first quarter. US Bancorp DE now owns 8,097 shares of the business services provider's stock worth $82,000 after acquiring an additional 5,000 shares during the period. Bank of Montreal Can purchased a new stake in shares of Healthcare Services Group during the fourth quarter worth about $118,000. Finally, Martingale Asset Management L P bought a new stake in Healthcare Services Group during the 1st quarter valued at approximately $127,000. 97.97% of the stock is owned by hedge funds and other institutional investors.

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.