Healthcare Services Group (NASDAQ:HCSG) Shares Gap Down – Time to Sell?

by · The Markets Daily

Healthcare Services Group, Inc. (NASDAQ:HCSG – Get Free Report)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $10.29, but opened at $9.95. Healthcare Services Group shares last traded at $9.89, with a volume of 29,115 shares trading hands.

Wall Street Analysts Forecast Growth

HCSG has been the topic of several recent analyst reports. Benchmark reiterated a “buy” rating and issued a $17.00 price target on shares of Healthcare Services Group in a report on Thursday, July 25th. Royal Bank of Canada reduced their target price on Healthcare Services Group from $15.00 to $14.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Finally, Robert W. Baird boosted their target price on shares of Healthcare Services Group from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $14.50.

Read Our Latest Report on HCSG

Healthcare Services Group Price Performance

The firm has a fifty day moving average of $10.72 and a two-hundred day moving average of $10.89. The stock has a market capitalization of $753.40 million, a P/E ratio of 17.89 and a beta of 0.52.

Healthcare Services Group (NASDAQ:HCSG – Get Free Report) last announced its quarterly earnings results on Wednesday, July 24th. The business services provider reported $0.20 earnings per share for the quarter, hitting the consensus estimate of $0.20. The firm had revenue of $426.30 million during the quarter, compared to analysts’ expectations of $424.94 million. Healthcare Services Group had a net margin of 1.82% and a return on equity of 12.58%. The company’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.12 EPS. As a group, sell-side analysts forecast that Healthcare Services Group, Inc. will post 0.78 EPS for the current fiscal year.

Institutional Investors Weigh In On Healthcare Services Group

Institutional investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC lifted its position in shares of Healthcare Services Group by 44.4% during the second quarter. Headlands Technologies LLC now owns 3,107 shares of the business services provider’s stock valued at $33,000 after buying an additional 955 shares during the last quarter. ProShare Advisors LLC boosted its stake in Healthcare Services Group by 7.4% in the first quarter. ProShare Advisors LLC now owns 14,994 shares of the business services provider’s stock valued at $187,000 after acquiring an additional 1,030 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Healthcare Services Group by 4.8% in the second quarter. The Manufacturers Life Insurance Company now owns 28,368 shares of the business services provider’s stock worth $300,000 after purchasing an additional 1,311 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Healthcare Services Group by 38.3% during 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 in the last quarter. Finally, ClariVest Asset Management LLC lifted its holdings in shares of Healthcare Services Group by 1.2% during the 2nd quarter. ClariVest Asset Management LLC now owns 152,278 shares of the business services provider’s stock valued at $1,611,000 after purchasing an additional 1,740 shares during the last quarter. Institutional investors own 97.97% of the company’s stock.

About Healthcare Services Group

(Get Free Report)

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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