Target Hospitality Corp. $TH Shares Purchased by HighTower Advisors LLC

HighTower Advisors LLC boosted its stake in Target Hospitality Corp. (NASDAQ:TH) by 14.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,842,267 shares of the company’s stock after acquiring an additional 238,280 shares during the quarter. HighTower Advisors LLC’s holdings in Target Hospitality were worth $37,509,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in Target Hospitality during the 2nd quarter worth $64,312,000. Hsbc Holdings PLC purchased a new position in Target Hospitality in the 2nd quarter valued at about $1,506,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Target Hospitality by 15.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,081,081 shares of the company’s stock valued at $10,032,000 after acquiring an additional 147,950 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Target Hospitality during the second quarter valued at about $8,140,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Target Hospitality by 21.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,428,773 shares of the company’s stock worth $13,259,000 after acquiring an additional 252,212 shares during the last quarter. Institutional investors and hedge funds own 32.40% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. Stifel Nicolaus set a $26.00 price target on Target Hospitality in a research note on Thursday, August 27th. Northland Securities set a $25.00 price objective on Target Hospitality in a report on Thursday, August 27th. Weiss Ratings raised Target Hospitality from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, August 21st. Oppenheimer increased their target price on Target Hospitality from $24.00 to $27.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Morgan Stanley assumed coverage on shares of Target Hospitality in a research report on Monday, August 17th. They set an “overweight” rating and a $22.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Target Hospitality has an average rating of “Moderate Buy” and an average target price of $24.60.

Target Hospitality Price Performance

Shares of TH opened at $20.25 on Wednesday. Target Hospitality Corp. has a 52 week low of $5.97 and a 52 week high of $20.85. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.11. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of -53.29 and a beta of 1.51. The stock has a 50 day moving average of $17.23 and a 200-day moving average of $15.25.

Target Hospitality (NASDAQ:TH) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.02. Target Hospitality had a negative return on equity of 9.80% and a negative net margin of 10.85%.The business had revenue of $85.45 million for the quarter, compared to analyst estimates of $79.30 million. As a group, analysts forecast that Target Hospitality Corp. will post -0.08 EPS for the current 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.