Target Hospitality (NASDAQ:TH) Shares Gap Down – Here’s What Happened

Target Hospitality Corp. (NASDAQ:TH) gapped down before the market opened on Wednesday . The stock had previously closed at $15.90, but opened at $14.83. Target Hospitality shares last traded at $14.7450, with a volume of 2,553,159 shares changing hands.

Wall Street Analysts Forecast Growth

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

Target Hospitality Trading Down 4.2%

The stock’s fifty day moving average is $10.36 and its two-hundred day moving average is $8.54. The company has a market capitalization of $1.40 billion, a PE ratio of -36.84 and a beta of 1.12.

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). The company had revenue of $89.78 million during the quarter, compared to analysts’ expectations of $85.20 million. Target Hospitality had a negative return on equity of 8.65% and a negative net margin of 11.58%. As a group, analysts anticipate that Target Hospitality Corp. will post -0.18 EPS for the current fiscal year.

Institutional Investors Weigh In On Target Hospitality

Several large investors have recently added to or reduced their stakes in TH. 71 West Capital Partners purchased a new stake in Target Hospitality in the 4th quarter worth about $7,147,000. Vanguard Group Inc. increased its holdings in Target Hospitality by 43.0% in the 3rd quarter. Vanguard Group Inc. now owns 1,994,641 shares of the company’s stock worth $16,915,000 after acquiring an additional 600,181 shares during the last quarter. Royce & Associates LP purchased a new stake in Target Hospitality in the 4th quarter worth about $2,801,000. Arrowstreet Capital Limited Partnership increased its holdings in Target Hospitality by 25.2% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,051,089 shares of the company’s stock worth $8,913,000 after acquiring an additional 211,634 shares during the last quarter. Finally, Rubric Capital Management LP increased its holdings in Target Hospitality by 9.5% in the 2nd quarter. Rubric Capital Management LP now owns 2,189,456 shares of the company’s stock worth $15,589,000 after acquiring an additional 189,456 shares during the last quarter. Hedge funds and other institutional investors own 32.40% of the company’s stock.

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.