Shares of Target Hospitality Corp. (NASDAQ:TH – Get Free Report) traded down 7.7% during trading on Thursday. The company traded as low as $15.98 and last traded at $15.9380. 1,557,488 shares were traded during trading, an increase of 22% from the average daily volume of 1,277,880 shares. The stock had previously closed at $17.26.
Wall Street Analyst Weigh In
Several brokerages recently commented on TH. Stifel Nicolaus set a $26.00 price target on shares of Target Hospitality in a research report on Thursday, August 27th. Oppenheimer raised their target price on Target Hospitality from $24.00 to $27.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 8th. Weiss Ratings raised Target Hospitality from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. Morgan Stanley lifted their target price on Target Hospitality from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, September 14th. Finally, Northland Securities set a $25.00 price target on shares of Target Hospitality in a report on Thursday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $25.20.
Target Hospitality Stock Performance
The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.65 and a current ratio of 0.65. The firm’s 50 day moving average is $18.61 and its 200-day moving average is $17.32. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of -40.68 and a beta of 1.49.
Target Hospitality (NASDAQ:TH – Get Free Report) last posted its earnings results on Monday, August 10th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.02. Target Hospitality had a negative net margin of 10.85% and a negative return on equity of 9.80%. The firm had revenue of $85.45 million for the quarter, compared to the consensus estimate of $79.30 million. Sell-side analysts anticipate that Target Hospitality Corp. will post -0.04 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Target Hospitality news, insider Troy C. Schrenk bought 5,907 shares of the firm’s stock in a transaction that occurred on Friday, September 18th. The stock was purchased at an average price of $21.16 per share, for a total transaction of $124,992.12. Following the purchase, the insider directly owned 216,995 shares in the company, valued at $4,591,614.20. This trade represents a 2.80% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James Archer bought 13,385 shares of the stock in a transaction on Tuesday, September 15th. The stock was acquired at an average cost of $18.69 per share, for a total transaction of $250,165.65. Following the acquisition, the chief executive officer directly owned 1,845,441 shares in the company, valued at approximately $34,491,292.29. The trade was a 0.73% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 3.80% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of Target Hospitality in the second quarter valued at about $64,312,000. HighTower Advisors LLC boosted its stake in Target Hospitality by 14.9% during the second quarter. HighTower Advisors LLC now owns 1,842,267 shares of the company’s stock worth $37,509,000 after buying an additional 238,280 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Target Hospitality by 21.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,428,773 shares of the company’s stock valued at $13,259,000 after buying an additional 252,212 shares during the period. Senator Investment Group LP bought a new stake in Target Hospitality in the 2nd quarter valued at $28,491,000. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Target Hospitality by 15.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,081,081 shares of the company’s stock valued at $10,032,000 after buying an additional 147,950 shares during the period. Institutional investors own 32.40% of the company’s stock.
Target Hospitality Company Profile
Target Hospitality Corporation (NASDAQ: TH) is a provider of vertically integrated hospitality and support services for organizations operating in remote or workforce-intensive locations. The company develops and operates purpose-built workforce accommodations, commonly known as man camps, and provides related services designed to support employees and other residents at these facilities.
Its services may include lodging, dining and catering, housekeeping, laundry, transportation and logistics, facility management, recreation, and other on-site amenities.
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