Target Hospitality (NASDAQ:TH) Stock Price Down 12.4% – Here’s What Happened

Target Hospitality Corp. (NASDAQ:TH) shares dropped 12.4% during trading on Wednesday. The company traded as low as $12.83 and last traded at $12.6940. 262,457 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 1,328,454 shares. The stock had previously closed at $14.49.

Analysts Set New Price Targets

TH has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $23.00 target price on shares of Target Hospitality in a research report on Thursday, August 27th. Weiss Ratings lowered Target Hospitality from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 23rd. Oppenheimer boosted their price target on Target Hospitality from $24.00 to $27.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 8th. Northland Securities set a $25.00 price objective on Target Hospitality in a research note on Thursday, August 27th. Finally, Morgan Stanley raised their price objective on Target Hospitality from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, September 14th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Target Hospitality presently has a consensus rating of “Moderate Buy” and an average target price of $25.20.

Target Hospitality Price Performance

The stock has a market cap of $1.14 billion, a price-to-earnings ratio of -30.13 and a beta of 1.56. 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 company’s fifty day moving average is $17.66 and its two-hundred day moving average is $14.79.

Target Hospitality (NASDAQ:TH) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.02. Target Hospitality had a negative net margin of 10.85% and a negative return on equity of 9.80%. The business had revenue of $85.45 million during the quarter, compared to the consensus estimate of $79.30 million. As a group, research analysts predict that Target Hospitality Corp. will post -0.04 earnings per share for the current year.

Insider Buying and Selling at Target Hospitality

In other Target Hospitality news, insider Troy C. Schrenk purchased 5,907 shares of the firm’s stock in a transaction that occurred on Friday, September 18th. The shares were purchased at an average cost of $21.16 per share, for a total transaction of $124,992.12. Following the completion of the purchase, the insider directly owned 216,995 shares in the company, valued at $4,591,614.20. This represents a 2.80% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Archer bought 13,385 shares of the stock in a transaction on Tuesday, September 15th. The shares were bought at an average price of $18.69 per share, for a total transaction of $250,165.65. Following the completion of the transaction, the chief executive officer directly owned 1,845,441 shares of the company’s stock, valued at $34,491,292.29. This trade represents a 0.73% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TH. BlackRock Inc. acquired a new position in shares of Target Hospitality during the 2nd quarter valued at $64,312,000. Hsbc Holdings PLC purchased a new position in Target Hospitality in the 2nd quarter worth about $1,506,000. Bank of America Corp DE acquired a new stake in shares of Target Hospitality during the second quarter valued at approximately $7,142,000. Bank of New York Mellon Corp bought a new stake in shares of Target Hospitality in the second quarter valued at approximately $8,140,000. Finally, Arrowstreet Capital Limited Partnership grew its position in Target Hospitality by 15.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,081,081 shares of the company’s stock worth $10,032,000 after purchasing an additional 147,950 shares during the last quarter. Institutional investors and hedge funds own 32.40% of the company’s stock.

Target Hospitality Company Profile

Target Hospitality Corp. (NASDAQ: TH) provides specialty rental and hospitality services for organizations that require temporary or long-term workforce housing. The company develops and operates workforce accommodation communities and related facilities, offering an integrated alternative to traditional hotels or permanent housing in locations where lodging infrastructure is limited.

Its services generally include furnished lodging, food services, housekeeping, laundry, transportation, maintenance, recreation and other facility-management support.