Healthcare Services Group, Inc. (NASDAQ:HCSG) is among the top gainers of the stock market today, skyrocketing 2.52% or (0.71 points) to $28.89 from its previous close of $28.18. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 133750 contracts so far this session. HCSG shares had a relatively better volume day versus average trading capacity of 581.32 thousand shares, but with a 73.68 million float and a 5.58% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for HCSG stock indicates that the average analyst price target is $28.38 per share. This means the stock has a potential decrease of -1.77% from where the HCSG share price has been trading recently.
During the recent trading session for Healthcare Services Group, Inc. (NASDAQ:HCSG), the company witnessed their stock rise $2.37 over a week and surge $1.63 from the price 20 days ago. When compared to their established 52-week high of $40.91, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 02/19/19. The recent low of $21.16 stood for a -29.38% since 08/26/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.74 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Healthcare Services Group, Inc., the two-week RSI stands at 69.05. This figure suggests that HCSG stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current HCSG readings is similarly very revealing as it has a stochastic reading of 61.32% at this stage. This figure means that HCSG share price today is being neutral.
Technical chart claims that Healthcare Services Group, Inc. (HCSG) would settle between $28.92/share to $29.65/share level. However, if the stock price goes below the $27.79 mark, then the market for Healthcare Services Group, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $27.39 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 1.45. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at RBC Capital Mkts, assumed coverage of HCSG assigning Sector Perform rating, according to their opinion released on November 22. Jefferies analysts have lowered their rating of Healthcare Services Group, Inc. (NASDAQ:HCSG) stock from Buy to Hold in a separate flash note issued to investors on July 12. Analysts at Berenberg, made their first call for the equity with a Hold recommendation, according to a research note that dated back to October 04.
HCSG equity has an average rating of 2.56, with the figure leaning towards a bullish end. 9 analysts who tracked the company were contacted by Reuters. Amongst them, 4 rated the stock as a hold while the remaining 5 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 4 analysts rated Healthcare Services Group, Inc. (NASDAQ:HCSG) as a buy or a strong buy while 1 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, HCSG stock price is currently trading at 24.13X forward 12-month Consensus EPS estimates, and its P/E ratio is 32.4 while for the average stock in the same group, the multiple is 39. Healthcare Services Group, Inc. current P/B ratio of 4.5 means it is trading at a discount against its industry’s 5.5.
Healthcare Services Group, Inc. (HCSG)’s current-quarter revenues are projected to climb by nearly -5.9% to hit $447820, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over -1.1% from $1.84 billion to a noteworthy $1.82 billion. At the other end of the current quarter income statement, Healthcare Services Group, Inc. is expected to see its adjusted earnings surge by roughly -29.7% to hit $0.26 per share. For the fiscal year, HCSG’s earnings are projected to climb by roughly 32.2% to hit $1.15 per share.