Healthcare Services Group (NASDAQ:HCSG) Price Target Cut to $14.00 by Analysts at Royal Bank of Canada

Healthcare Services Group (NASDAQ:HCSG) had its price objective trimmed by Royal Bank of Canada from $15.00 to $14.00 in a research note released on Thursday morning, Benzinga reports. The brokerage currently has an outperform rating on the business services provider’s stock.

Separately, Robert W. Baird increased their target price on Healthcare Services Group from $13.00 to $14.00 and gave the stock a neutral rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $14.50.

Healthcare Services Group Price Performance

HCSG stock opened at $10.79 on Thursday. The firm has a fifty day moving average price of $10.82 and a two-hundred day moving average price of $11.12. Healthcare Services Group has a 1-year low of $8.75 and a 1-year high of $13.86. The firm has a market cap of $794.68 million, a price-to-earnings ratio of 18.93 and a beta of 0.53.

Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings data on Wednesday, July 24th. The business services provider reported $0.20 earnings per share for the quarter, hitting the consensus estimate of $0.20. Healthcare Services Group had a net margin of 1.82% and a return on equity of 12.58%. The firm had revenue of $426.30 million for the quarter, compared to analyst estimates of $424.94 million. During the same quarter in the prior year, the business earned $0.12 earnings per share. Healthcare Services Group’s quarterly revenue was up 1.8% on a year-over-year basis. As a group, analysts expect that Healthcare Services Group will post 0.8 EPS for the current fiscal year.

Hedge Funds Weigh In On Healthcare Services Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC bought a new stake in Healthcare Services Group during the 1st quarter valued at $27,000. Financial Management Professionals Inc. bought a new stake in shares of Healthcare Services Group during the first quarter valued at about $55,000. PNC Financial Services Group Inc. lifted its holdings in Healthcare Services Group by 38.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,186 shares of the business services provider’s stock worth $64,000 after purchasing an additional 1,714 shares during the period. International Assets Investment Management LLC bought a new position in Healthcare Services Group in the 4th quarter valued at about $921,000. Finally, Hennion & Walsh Asset Management Inc. acquired a new position in Healthcare Services Group during the 2nd quarter valued at about $124,000. 97.97% of the stock is currently owned by institutional investors and hedge funds.

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.