Kore Advisors LP Boosts Position in Target Hospitality Corp. $TH

Kore Advisors LP lifted its position in Target Hospitality Corp. (NASDAQ:TH) by 9.6% during the 1st quarter, HoldingsChannel reports. The firm owned 466,055 shares of the company’s stock after acquiring an additional 40,842 shares during the quarter. Target Hospitality accounts for about 4.7% of Kore Advisors LP’s investment portfolio, making the stock its 7th largest holding. Kore Advisors LP’s holdings in Target Hospitality were worth $4,325,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in TH. Dimensional Fund Advisors LP increased its position in Target Hospitality by 21.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,428,773 shares of the company’s stock worth $13,259,000 after purchasing an additional 252,212 shares during the last quarter. Bleakley Financial Group LLC purchased a new stake in Target Hospitality during the first quarter valued at $232,000. Equitable Trust Co. lifted its position in Target Hospitality by 18.6% during the first quarter. Equitable Trust Co. now owns 123,827 shares of the company’s stock valued at $1,149,000 after purchasing an additional 19,461 shares during the last quarter. Invesco Ltd. lifted its position in Target Hospitality by 20.1% during the fourth quarter. Invesco Ltd. now owns 70,385 shares of the company’s stock valued at $564,000 after purchasing an additional 11,793 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV purchased a new position in shares of Target Hospitality in the 4th quarter worth $118,000. 32.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TH has been the topic of several analyst reports. Stifel Nicolaus restated a “buy” rating and set a $15.00 price objective (up from $11.00) on shares of Target Hospitality in a research report on Monday, April 6th. Oppenheimer raised their price objective on Target Hospitality from $21.00 to $24.00 and gave the company an “outperform” rating in a research note on Tuesday, July 14th. Wall Street Zen upgraded Target Hospitality from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Deutsche Bank Aktiengesellschaft initiated coverage on Target Hospitality in a research report on Monday, June 1st. They set a “hold” rating and a $22.00 target price on the stock. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Target Hospitality in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.33.

Target Hospitality Stock Down 0.7%

NASDAQ:TH opened at $16.71 on Thursday. The company’s 50-day simple moving average is $18.16 and its 200-day simple moving average is $12.95. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.85 and a current ratio of 0.85. Target Hospitality Corp. has a fifty-two week low of $5.97 and a fifty-two week high of $20.85. The stock has a market capitalization of $1.67 billion, a P/E ratio of -37.98 and a beta of 1.46.

Target Hospitality (NASDAQ:TH) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). The company had revenue of $72.78 million for the quarter, compared to analyst estimates of $73.20 million. Target Hospitality had a negative net margin of 13.47% and a negative return on equity of 11.11%. On average, equities analysts anticipate that Target Hospitality Corp. will post -0.19 earnings per share for the current fiscal year.

Target Hospitality 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.