Healthcare Services Group, Inc. (NASDAQ:HCSG - Get Free Report)'s share price dropped 12.4% during mid-day trading on Thursday . The company traded as low as $13.32 and last traded at $12.85. Approximately 656,453 shares traded hands during mid-day trading, an increase of 29% from the average daily volume of 508,427 shares. The stock had previously closed at $14.66.
Wall Street Analyst Weigh In
HCSG has been the subject of a number of research reports. UBS Group raised shares of Healthcare Services Group from a "neutral" rating to a "buy" rating and upped their price objective for the company from $12.00 to $15.00 in a research note on Thursday, April 24th. Wall Street Zen upgraded shares of Healthcare Services Group from a "hold" rating to a "buy" rating in a research note on Friday, April 25th. Macquarie raised their price objective on shares of Healthcare Services Group from $13.00 to $15.00 and gave the company a "neutral" rating in a research note on Monday, April 28th. Finally, Robert W. Baird raised their price objective 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. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $14.80.
View Our Latest Report on HCSG
Healthcare Services Group Price Performance
The firm's 50-day moving average price is $14.55 and its 200-day moving average price is $12.20. The stock has a market cap of $1.00 billion, a P/E ratio of 24.66 and a beta of 0.57.
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 for the quarter, topping the consensus estimate of $0.18 by $0.05. Healthcare Services Group had a net margin of 2.38% and a return on equity of 11.68%. The company had revenue of $447.66 million for the quarter, compared to analysts' expectations of $443.82 million. During the same quarter in the previous year, the business posted $0.22 earnings per share. Healthcare Services Group's quarterly revenue was up 5.7% on a year-over-year basis. Sell-side analysts expect that Healthcare Services Group, Inc. will post 0.74 earnings per share for the current year.
Institutional Trading of Healthcare Services Group
A number of large investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC lifted its stake in Healthcare Services Group by 1,152.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 166,643 shares of the business services provider's stock worth $1,680,000 after acquiring an additional 153,333 shares during the period. Palisade Capital Management LP increased its holdings in shares of 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 valued at $22,558,000 after acquiring an additional 20,720 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of 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 valued at $2,055,000 after acquiring an additional 22,834 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in Healthcare Services Group by 9.1% in the 4th quarter. Nuveen Asset Management LLC now owns 829,322 shares of the business services provider's stock worth $9,633,000 after buying an additional 68,935 shares during the period. Finally, GAMMA Investing LLC increased its holdings in Healthcare Services Group by 852.4% in the 1st 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. 97.97% of the stock is owned by hedge funds and other institutional investors.
Healthcare Services Group Company Profile
(
Get Free Report)
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.
Further Reading
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