Healthcare Services Group (NASDAQ:HCSG) Upgraded by Zacks Research to "Strong-Buy" Rating

Key Points

• Zacks Research upgraded Healthcare Services Group from “hold” to “strong buy.” The stock has a consensus “moderate buy” rating and an average analyst price target of $26.20.
• HCSG reported quarterly EPS of $0.32, beating estimates of $0.22, while revenue of $470.81 million was nearly in line with expectations. Analysts forecast full-year EPS of approximately $1.10.
• Shares opened at $23.15, with a market capitalization of about $1.59 billion and a 52-week range of $13.65 to $25.75; institutional investors own approximately 97.97% of the company.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) was upgraded by equities researchers at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued on Monday,Zacks.com reports.

Several other brokerages have also issued reports on HCSG. Wall Street Zen lowered Healthcare Services Group from a "buy" rating to a "hold" rating in a report on Saturday. Benchmark lifted their price objective on Healthcare Services Group from $28.00 to $30.00 and gave the company a "buy" rating in a research report on Thursday, April 23rd. BMO Capital Markets boosted their target price on Healthcare Services Group from $22.00 to $24.00 and gave the company a "market perform" rating in a research note on Thursday, April 23rd. UBS Group upped their target price on Healthcare Services Group from $27.00 to $30.00 and gave the stock a "buy" rating in a research report on Wednesday, July 8th. Finally, Royal Bank Of Canada raised their price target on Healthcare Services Group from $22.00 to $24.00 and gave the stock a "sector perform" rating in a research note on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Healthcare Services Group currently has a consensus rating of "Moderate Buy" and an average target price of $26.20.

Healthcare Services Group Stock Performance

Shares of HCSG opened at $23.15 on Monday. The company has a market capitalization of $1.59 billion, a PE ratio of 13.46 and a beta of 0.81. The company's 50 day moving average price is $22.99 and its 200 day moving average price is $21.16. Healthcare Services Group has a 52 week low of $13.65 and a 52 week high of $25.75.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last released its earnings results on Wednesday, July 22nd. The business services provider reported $0.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.10. The company had revenue of $470.81 million during the quarter, compared to the consensus estimate of $471.22 million. Healthcare Services Group had a net margin of 6.59% and a return on equity of 18.97%. During the same quarter in the prior year, the firm earned ($0.44) EPS. On average, equities analysts forecast that Healthcare Services Group will post 1.1 earnings per share for the current fiscal year.

Institutional Trading of Healthcare Services Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its holdings in shares of Healthcare Services Group by 163.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,186 shares of the business services provider's stock valued at $33,000 after acquiring an additional 1,356 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Healthcare Services Group during the fourth quarter worth approximately $33,000. KBC Group NV acquired a new position in Healthcare Services Group during the first quarter valued at approximately $35,000. Farther Finance Advisors LLC grew its holdings in Healthcare Services Group by 32.0% during the fourth quarter. Farther Finance Advisors LLC now owns 3,619 shares of the business services provider's stock valued at $69,000 after purchasing an additional 877 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of Healthcare Services Group by 600.8% in the second quarter. Tower Research Capital LLC TRC now owns 10,259 shares of the business services provider's stock valued at $154,000 after purchasing an additional 8,795 shares during the period. Institutional investors and hedge funds own 97.97% of the company's stock.

Healthcare Services Group Company Profile

Healthcare Services Group, Inc NASDAQ: HCSG is a leading provider of support services to healthcare facilities across the United States. The company specializes in environmental services, including housekeeping and sanitation, as well as linen and laundry management. In addition, Healthcare Services Group offers dietary and nutrition services, catering to hospitals, skilled nursing facilities, assisted living communities and other long-term care providers.

Founded as a family-owned business in the late 1970s, the company completed its initial public offering in 1997.

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