UPDATE: Duncan Williams Downgrades Healthcare Services Group to Hold, Removes PT

A report from Duncan Williams downgrades Healthcare Services Group HCSG from Buy to Hold. The report states, “Our downgrade is purely based on valuation as HCSG is trading at 26 times our 2012 EPS estimate of $0.68. This valuation represents a premium to our current 2012 revenue growth estimate of 10% and our 2012 earnings growth estimate of 17%. We continue to believe that HCSG is a core holding for investors that want to participate in the outsourcing trend among healthcare providers”. HCSG closed yesterday at $17.74.