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

Shares of Target Hospitality Corp. (NASDAQ:TH) gapped down prior to trading on Thursday . The stock had previously closed at $18.33, but opened at $17.21. Target Hospitality shares last traded at $17.43, with a volume of 1,800,564 shares.

Analyst Ratings Changes

A number of research firms have commented on TH. Texas Capital raised shares of Target Hospitality from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 12th. Weiss Ratings reissued a “sell (d)” rating on shares of Target Hospitality in a research note on Friday, March 27th. Stifel Nicolaus reissued a “buy” rating and issued a $15.00 price target (up from $11.00) on shares of Target Hospitality in a research note on Monday, April 6th. Wall Street Zen raised shares of Target Hospitality from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. Finally, Oppenheimer boosted their price target on shares of Target Hospitality from $18.00 to $21.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

Target Hospitality Stock Down 5.5%

The company has a market cap of $1.74 billion, a PE ratio of -39.32 and a beta of 1.43. The stock’s 50 day moving average price is $14.34 and its 200-day moving average price is $10.01. 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 (NASDAQ:TH) last announced its quarterly earnings data 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). Target Hospitality had a negative net margin of 13.47% and a negative return on equity of 11.11%. The business had revenue of $72.78 million during the quarter, compared to analysts’ expectations of $73.20 million. On average, analysts predict that Target Hospitality Corp. will post -0.18 earnings per share for the current year.

Institutional Investors Weigh In On Target Hospitality

Institutional investors have recently made changes to their positions in the business. Capelight Capital Asset Management LP bought a new stake in Target Hospitality during the 4th quarter valued at $481,000. Tudor Investment Corp ET AL raised its holdings in Target Hospitality by 29.4% during the 3rd quarter. Tudor Investment Corp ET AL now owns 291,903 shares of the company’s stock valued at $2,475,000 after buying an additional 66,322 shares during the last quarter. Pekin Hardy Strauss Inc. bought a new stake in Target Hospitality during the 4th quarter valued at $517,000. Clear Harbor Asset Management LLC bought a new stake in Target Hospitality during the 4th quarter valued at $112,000. Finally, AdvisorShares Investments LLC raised its holdings in Target Hospitality by 17.9% during the 4th quarter. AdvisorShares Investments LLC now owns 11,820 shares of the company’s stock valued at $95,000 after buying an additional 1,798 shares during the last quarter. Hedge funds and other institutional investors own 32.40% of the company’s stock.

Target Hospitality Company 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.