Healthcare Services Group (NASDAQ:HCSG) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Healthcare Services Group (NASDAQ:HCSG) from a hold rating to a buy rating in a report issued on Friday morning.

A number of other equities analysts have also recently weighed in on HCSG. Benchmark reissued a “buy” rating and issued a $17.00 price target on shares of Healthcare Services Group in a report on Thursday, December 19th. Robert W. Baird reduced their target price on shares of Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, October 24th. Finally, Macquarie started coverage on shares of Healthcare Services Group in a report on Monday, December 16th. They set a “neutral” rating and a $13.00 price target for the company. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Healthcare Services Group presently has an average rating of “Moderate Buy” and a consensus price target of $13.80.

Healthcare Services Group Price Performance

Shares of HCSG opened at $11.09 on Friday. Healthcare Services Group has a 1-year low of $8.98 and a 1-year high of $13.00. The stock has a market cap of $812.79 million, a price-to-earnings ratio of 16.07 and a beta of 0.56. The firm has a 50 day simple moving average of $11.84 and a 200-day simple moving average of $11.28.

Institutional Trading of Healthcare Services Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royce & Associates LP boosted its position in shares of Healthcare Services Group by 7.0% in the third quarter. Royce & Associates LP now owns 4,449,496 shares of the business services provider’s stock worth $49,701,000 after acquiring an additional 290,621 shares during the last quarter. State Street Corp raised its stake in Healthcare Services Group by 8.3% during the third quarter. State Street Corp now owns 2,964,325 shares of the business services provider’s stock worth $33,112,000 after purchasing an additional 226,818 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Healthcare Services Group by 9.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,057,202 shares of the business services provider’s stock valued at $21,766,000 after buying an additional 181,231 shares during the period. Geode Capital Management LLC grew its stake in shares of Healthcare Services Group by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,760,971 shares of the business services provider’s stock valued at $19,674,000 after buying an additional 50,375 shares during the period. Finally, Cerity Partners LLC purchased a new position in shares of Healthcare Services Group in the 3rd quarter worth $9,166,000. Hedge funds and other institutional investors own 97.97% of the company’s stock.

About Healthcare Services Group

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.