Target Hospitality (NASDAQ:TH) Releases Earnings Results, Misses Expectations By $0.03 EPS

Target Hospitality (NASDAQ:TH) announced its quarterly earnings data on Monday. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03), Zacks reports. Target Hospitality had a net margin of 20.84% and a return on equity of 22.80%. The business had revenue of $69.90 million for the quarter, compared to the consensus estimate of $65.37 million. During the same period in the prior year, the company earned $0.20 EPS. Target Hospitality’s quarterly revenue was down 34.5% on a year-over-year basis.

Target Hospitality Stock Down 2.8%

NASDAQ TH traded down $0.21 on Tuesday, hitting $7.25. The stock had a trading volume of 584,550 shares, compared to its average volume of 602,679. Target Hospitality has a one year low of $4.00 and a one year high of $11.57. The stock has a market cap of $720.39 million, a price-to-earnings ratio of 8.33, a P/E/G ratio of 1.81 and a beta of 1.89. The company’s 50-day moving average is $6.60 and its two-hundred day moving average is $7.99.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its holdings in shares of Target Hospitality by 104.9% in the first quarter. Goldman Sachs Group Inc. now owns 280,288 shares of the company’s stock valued at $1,844,000 after acquiring an additional 143,505 shares in the last quarter. Empowered Funds LLC bought a new position in shares of Target Hospitality in the first quarter valued at approximately $660,000. Royal Bank of Canada boosted its holdings in shares of Target Hospitality by 3,549.2% in the first quarter. Royal Bank of Canada now owns 43,863 shares of the company’s stock valued at $289,000 after acquiring an additional 42,661 shares in the last quarter. Finally, AQR Capital Management LLC bought a new position in shares of Target Hospitality in the first quarter valued at approximately $114,000. 32.40% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Northland Securities raised shares of Target Hospitality from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $11.00 to $15.00 in a research report on Wednesday, January 29th. Northland Capmk upgraded shares of Target Hospitality from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 29th. Finally, Stifel Nicolaus upped their target price on shares of Target Hospitality from $5.00 to $7.50 and gave the stock a “hold” rating in a research report on Monday, March 31st.

Target Hospitality Company Profile

Target Hospitality Corp. operates as a specialty rental and hospitality services company in North America. The company operates through two segments, Hospitality & Facilities Services – South and Government. It owns a network of specialty rental accommodation units. In addition, the company provides catering and food, maintenance, housekeeping, grounds-keeping, security, health and recreation facilities, workforce community management, concierge, and laundry services.