Target Hospitality (NASDAQ:TH) Hits New 52-Week High – Here’s Why

Shares of Target Hospitality Corp. (NASDAQ:TH) reached a new 52-week high on Tuesday . The company traded as high as $15.65 and last traded at $15.61, with a volume of 1620442 shares traded. The stock had previously closed at $14.84.

Analyst Ratings Changes

TH has been the topic of a number of recent research reports. Oppenheimer upped their target price on shares of Target Hospitality from $11.00 to $18.00 and gave the stock an “outperform” rating in a research note on Thursday, April 9th. Weiss Ratings restated a “sell (d)” rating on shares of Target Hospitality in a research note on Friday, March 27th. Texas Capital upgraded shares of Target Hospitality from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 12th. Stifel Nicolaus restated a “buy” rating and set a $15.00 target price (up from $11.00) on shares of Target Hospitality in a research note on Monday, April 6th. Finally, Wall Street Zen upgraded shares of Target Hospitality from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $16.50.

Target Hospitality Price Performance

The company has a market capitalization of $1.46 billion, a PE ratio of -38.45 and a beta of 1.12. The company’s 50 day simple moving average is $10.22 and its 200 day simple moving average is $8.50.

Target Hospitality (NASDAQ:TH) last announced its quarterly earnings results on Wednesday, March 11th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.05). The company had revenue of $89.78 million during the quarter, compared to analysts’ expectations of $85.20 million. Target Hospitality had a negative net margin of 11.58% and a negative return on equity of 8.65%. On average, equities analysts forecast that Target Hospitality Corp. will post -0.18 EPS for the current year.

Hedge Funds Weigh In On Target Hospitality

Hedge funds have recently added to or reduced their stakes in the stock. Tudor Investment Corp ET AL increased its stake in Target Hospitality by 29.4% in the third quarter. Tudor Investment Corp ET AL now owns 291,903 shares of the company’s stock valued at $2,475,000 after purchasing an additional 66,322 shares during the last quarter. Capelight Capital Asset Management LP purchased a new position in Target Hospitality in the fourth quarter valued at approximately $481,000. Tripletail Wealth Management LLC increased its stake in Target Hospitality by 62.2% in the fourth quarter. Tripletail Wealth Management LLC now owns 11,630 shares of the company’s stock valued at $93,000 after purchasing an additional 4,460 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Target Hospitality by 121.5% in the third quarter. Russell Investments Group Ltd. now owns 4,494 shares of the company’s stock valued at $38,000 after purchasing an additional 2,465 shares during the last quarter. Finally, IFP Advisors Inc increased its stake in Target Hospitality by 88.0% in the third quarter. IFP Advisors Inc now owns 4,002 shares of the company’s stock valued at $35,000 after purchasing an additional 1,873 shares during the last quarter. 32.40% of the stock is currently owned by hedge funds and other institutional investors.

About Target Hospitality

Target Hospitality is a lodging solutions provider specializing in the ownership and operation of modular workforce housing communities across North America. The company serves large-scale clients in the energy, mining, construction and government sectors that require temporary or long-term accommodations for remote workforces. Its housing portfolio includes suite-style units, single-family cabins and “man-camp” dormitories, designed to match project size, duration and workforce composition.

In addition to lodging, Target Hospitality delivers integrated support services such as on-site dining and culinary management, housekeeping, maintenance, facility management and logistics planning.