Healthcare Services Group, Inc. (NASDAQ:HCSG) Receives Consensus Recommendation of “Hold” from Brokerages

by · The Markets Daily

Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG – Get Free Report) have received a consensus rating of “Hold” from the seven ratings firms that are presently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $19.40.

A number of analysts recently issued reports on the stock. UBS Group restated a “buy” rating on shares of Healthcare Services Group in a research note on Monday, November 24th. Weiss Ratings reissued a “hold (c+)” rating on shares of Healthcare Services Group in a report on Monday, December 29th. BMO Capital Markets initiated coverage on shares of Healthcare Services Group in a research note on Thursday, November 13th. They issued a “market perform” rating and a $20.00 target price on the stock. Wall Street Zen cut shares of Healthcare Services Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 23rd. Finally, Benchmark boosted their price objective on Healthcare Services Group from $19.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, October 23rd.

Get Our Latest Analysis on Healthcare Services Group

Healthcare Services Group Stock Up 1.5%

HCSG stock opened at $19.24 on Friday. Healthcare Services Group has a 52-week low of $9.13 and a 52-week high of $20.26. The stock’s 50 day moving average is $19.08 and its two-hundred day moving average is $17.31. The company has a market capitalization of $1.36 billion, a PE ratio of 35.63 and a beta of 0.74.

Institutional Investors Weigh In On Healthcare Services Group

A number of institutional investors have recently made changes to their positions in HCSG. Synergy Asset Management LLC bought a new stake in shares of Healthcare Services Group in the 3rd quarter worth approximately $2,860,000. KLP Kapitalforvaltning AS lifted its stake in Healthcare Services Group by 138.9% in the second quarter. KLP Kapitalforvaltning AS now owns 34,400 shares of the business services provider’s stock valued at $517,000 after buying an additional 20,000 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Healthcare Services Group by 38.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 345,332 shares of the business services provider’s stock valued at $5,812,000 after acquiring an additional 96,472 shares during the period. Bailard Inc. bought a new position in shares of Healthcare Services Group during the third quarter worth about $655,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Healthcare Services Group in the 2nd quarter worth about $407,000. 97.97% of the stock is currently owned by institutional investors.

About Healthcare Services Group

(Get Free Report)

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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