Royal Bank of Canada Lowers Healthcare Services Group (NASDAQ:HCSG) Price Target to $14.00

Healthcare Services Group (NASDAQ:HCSG) had its price target trimmed by Royal Bank of Canada from $15.00 to $14.00 in a report issued on Thursday morning, Benzinga reports. They currently have an outperform rating on the business services provider’s stock.

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

Healthcare Services Group Price Performance

NASDAQ:HCSG opened at $10.79 on Thursday. The stock has a market cap of $794.68 million, a P/E ratio of 18.93 and a beta of 0.53. The company has a fifty day moving average price of $10.82 and a 200 day moving average price of $11.12. Healthcare Services Group has a one year low of $8.75 and a one year high of $13.86.

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

Hedge Funds Weigh In On Healthcare Services Group

Several hedge funds and other institutional investors have recently modified their holdings of HCSG. Headlands Technologies LLC bought a new stake in Healthcare Services Group in the first quarter valued at $27,000. Financial Management Professionals Inc. acquired a new stake in shares of Healthcare Services Group in the 1st quarter valued at $55,000. PNC Financial Services Group Inc. grew its holdings in shares of Healthcare Services Group by 38.3% in the 4th 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 last quarter. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Healthcare Services Group during the 2nd quarter worth about $124,000. Finally, Victory Capital Management Inc. lifted its holdings in Healthcare Services Group by 14.0% during the 4th quarter. Victory Capital Management Inc. now owns 14,586 shares of the business services provider’s stock valued at $151,000 after purchasing an additional 1,795 shares during the last quarter. Institutional investors own 97.97% of the company’s stock.

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.