Target Hospitality (NASDAQ:TH) Trading 11% Higher – What’s Next?

Target Hospitality Corp. (NASDAQ:TH) shares traded up 11% on Thursday . The company traded as high as $18.85 and last traded at $18.6180. 317,991 shares changed hands during trading, a decline of 70% from the average daily volume of 1,048,970 shares. The stock had previously closed at $16.78.

Analysts Set New Price Targets

A number of research firms recently issued reports on TH. Weiss Ratings raised shares of Target Hospitality from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, August 21st. Stifel Nicolaus set a $26.00 price objective on Target Hospitality in a research report on Thursday. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $23.00 target price on shares of Target Hospitality in a report on Thursday. Oppenheimer raised their target price on Target Hospitality from $21.00 to $24.00 and gave the company an “outperform” rating in a research note on Tuesday, July 14th. Finally, Morgan Stanley started coverage on Target Hospitality in a research report on Monday, August 17th. They set an “overweight” rating and a $22.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $24.00.

Target Hospitality Stock Performance

The company has a market capitalization of $1.89 billion, a PE ratio of -50.02 and a beta of 1.49. The business’s 50-day moving average is $17.47 and its 200-day moving average is $14.50. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.65 and a current ratio of 0.65.

Target Hospitality (NASDAQ:TH) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.02. The business had revenue of $85.45 million for the quarter, compared to analyst estimates of $79.30 million. Target Hospitality had a negative net margin of 10.85% and a negative return on equity of 9.80%. On average, research analysts anticipate that Target Hospitality Corp. will post -0.2 earnings per share for the current year.

Institutional Trading of Target Hospitality

Hedge funds have recently made changes to their positions in the stock. HighTower Advisors LLC grew its stake in shares of Target Hospitality by 14.9% in the 2nd 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 during the last quarter. California State Teachers Retirement System raised its stake in Target Hospitality by 2,633.4% during the second quarter. California State Teachers Retirement System now owns 876,498 shares of the company’s stock valued at $17,845,000 after buying an additional 844,432 shares during the last quarter. AXQ Capital LP bought a new stake in Target Hospitality in the second quarter worth $471,000. Senator Investment Group LP bought a new stake in Target Hospitality in the second quarter worth $28,491,000. Finally, Moore Capital Management LP purchased a new stake in shares of Target Hospitality in the second quarter worth $509,000. 32.40% of the stock is owned by 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.