StockNews.com Downgrades Healthcare Services Group (NASDAQ:HCSG) to Sell

Posted by on Jun 21st, 2022

Healthcare Services Group (NASDAQ:HCSG – Get Rating) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Monday.

HCSG has been the subject of a number of other research reports. Credit Suisse Group increased their target price on Healthcare Services Group from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, April 21st. Royal Bank of Canada increased their target price on Healthcare Services Group from $17.00 to $20.00 and gave the stock a “sector perform” rating in a report on Thursday, April 21st. Finally, Robert W. Baird increased their price objective on shares of Healthcare Services Group from $17.00 to $23.00 in a research note on Thursday, April 21st. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $18.63.

Shares of HCSG traded up $0.25 during trading hours on Monday, reaching $16.18. The stock had a trading volume of 39,163 shares, compared to its average volume of 1,034,583. Healthcare Services Group has a 52 week low of $14.75 and a 52 week high of $32.96. The firm has a 50-day moving average of $17.17 and a 200 day moving average of $17.24. The company has a market cap of $1.20 billion, a P/E ratio of 36.77 and a beta of 0.37.

Healthcare Services Group (NASDAQ:HCSG – Get Rating) last released its earnings results on Wednesday, April 20th. The business services provider reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.09. The firm had revenue of $426.80 million during the quarter, compared to analysts’ expectations of $424.78 million. Healthcare Services Group had a return on equity of 6.97% and a net margin of 1.96%. The company’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.33 EPS. Equities analysts forecast that Healthcare Services Group will post 0.59 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its stake in Healthcare Services Group by 0.5% in the 1st quarter. BlackRock Inc. now owns 11,772,443 shares of the business services provider’s stock valued at $218,614,000 after purchasing an additional 61,478 shares during the last quarter. State Street Corp lifted its stake in Healthcare Services Group by 54.1% in the 1st quarter. State Street Corp now owns 4,065,246 shares of the business services provider’s stock valued at $75,492,000 after purchasing an additional 1,427,064 shares during the last quarter. Riverbridge Partners LLC lifted its stake in Healthcare Services Group by 11.1% in the 1st quarter. Riverbridge Partners LLC now owns 3,828,509 shares of the business services provider’s stock valued at $71,095,000 after purchasing an additional 381,164 shares during the last quarter. Marathon Asset Mgmt Ltd acquired a new stake in Healthcare Services Group in the 4th quarter valued at about $58,151,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Healthcare Services Group in the 4th quarter valued at about $51,532,000.

Healthcare Services Group Company Profile (Get Rating)

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.

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