Target Hospitality (NASDAQ:TH) Sets New 1-Year High – Here’s Why

Target Hospitality Corp. (NASDAQ:TH) hit a new 52-week high during mid-day trading 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.

Wall Street Analyst Weigh In

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

Target Hospitality Price Performance

The firm has a market cap of $1.56 billion, a PE ratio of -41.08 and a beta of 1.12. The business has a fifty day moving average price of $9.91 and a two-hundred day moving average price of $8.40.

Target Hospitality (NASDAQ:TH) last issued its quarterly earnings results on Wednesday, March 11th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.05). Target Hospitality had a negative net margin of 11.58% and a negative return on equity of 8.65%. The business had revenue of $89.78 million for the quarter, compared to analysts’ expectations of $85.20 million. As a group, sell-side analysts forecast that Target Hospitality Corp. will post -0.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TH. 71 West Capital Partners purchased a new position in shares of Target Hospitality during the fourth quarter valued at $7,147,000. Vanguard Group Inc. grew its holdings in shares of Target Hospitality by 43.0% during the third quarter. Vanguard Group Inc. now owns 1,994,641 shares of the company’s stock valued at $16,915,000 after buying an additional 600,181 shares in the last quarter. Royce & Associates LP purchased a new position in shares of Target Hospitality during the fourth quarter valued at $2,801,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Target Hospitality by 25.2% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,051,089 shares of the company’s stock valued at $8,913,000 after buying an additional 211,634 shares in the last quarter. Finally, Rubric Capital Management LP grew its holdings in shares of Target Hospitality by 9.5% during the second quarter. Rubric Capital Management LP now owns 2,189,456 shares of the company’s stock valued at $15,589,000 after buying an additional 189,456 shares in the last quarter. Hedge funds and other institutional investors own 32.40% of the company’s stock.

Target Hospitality Company Profile

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.