Healthcare Services Group, Inc. (HCSG) Receives $53.33 Consensus Target Price from Brokerages

Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) have earned an average rating of “Buy” from the six analysts that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $53.33.

Several research analysts recently weighed in on HCSG shares. Robert W. Baird reaffirmed a “buy” rating and issued a $52.00 target price on shares of Healthcare Services Group in a report on Wednesday, October 4th. BidaskClub raised shares of Healthcare Services Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 23rd. Zacks Investment Research raised shares of Healthcare Services Group from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a report on Thursday, October 19th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $49.00 target price on shares of Healthcare Services Group in a report on Tuesday, August 22nd. Finally, Stifel Nicolaus reaffirmed a “buy” rating on shares of Healthcare Services Group in a report on Thursday, October 19th.

In other news, Director John Briggs sold 2,500 shares of the company’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $50.75, for a total transaction of $126,875.00. Following the sale, the director now directly owns 18,579 shares in the company, valued at approximately $942,884.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael E. Mcbryan sold 22,500 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $51.82, for a total transaction of $1,165,950.00. Following the sale, the insider now owns 32,542 shares in the company, valued at $1,686,326.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,750 shares of company stock worth $1,539,825. Corporate insiders own 4.30% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Healthcare Services Group by 9.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,700 shares of the business services provider’s stock valued at $126,000 after buying an additional 242 shares in the last quarter. LS Investment Advisors LLC raised its position in shares of Healthcare Services Group by 4.0% during the 2nd quarter. LS Investment Advisors LLC now owns 2,834 shares of the business services provider’s stock valued at $133,000 after buying an additional 108 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Healthcare Services Group by 4.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,005 shares of the business services provider’s stock valued at $141,000 after buying an additional 135 shares in the last quarter. Bruderman Asset Management LLC purchased a new stake in shares of Healthcare Services Group during the 2nd quarter valued at about $170,000. Finally, Riverhead Capital Management LLC raised its position in shares of Healthcare Services Group by 69.1% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,059 shares of the business services provider’s stock valued at $190,000 after buying an additional 1,659 shares in the last quarter. Hedge funds and other institutional investors own 91.37% of the company’s stock.

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Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings data on Tuesday, October 17th. The business services provider reported $0.31 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.31. Healthcare Services Group had a net margin of 5.00% and a return on equity of 24.17%. The firm had revenue of $491.40 million during the quarter, compared to the consensus estimate of $485.53 million. During the same quarter in the previous year, the firm posted $0.27 EPS. The company’s revenue for the quarter was up 25.1% compared to the same quarter last year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, November 17th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $0.76 annualized dividend and a yield of 1.44%. This is a boost from Healthcare Services Group’s previous quarterly dividend of $0.19. Healthcare Services Group’s payout ratio is presently 63.03%.

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 the healthcare industry, including nursing homes, retirement complexes, rehabilitation centers and hospitals located throughout the United States.

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