Target Hospitality (NASDAQ:TH) Reaches New 12-Month High – Here’s What Happened

Shares of Target Hospitality Corp. (NASDAQ:TH) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $20.34 and last traded at $20.4350, with a volume of 864381 shares changing hands. The stock had previously closed at $20.16.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft initiated coverage on Target Hospitality in a report on Monday, June 1st. They issued a “hold” rating and a $22.00 price target on the stock. Stifel Nicolaus reaffirmed a “buy” rating and set a $15.00 price objective (up from $11.00) on shares of Target Hospitality in a report on Monday, April 6th. Oppenheimer boosted their target price on Target Hospitality from $18.00 to $21.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Wall Street Zen raised Target Hospitality from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Target Hospitality in a research report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Target Hospitality has an average rating of “Moderate Buy” and an average price target of $19.33.

Target Hospitality Trading Down 0.2%

The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.08. The business has a 50 day moving average of $16.69 and a 200-day moving average of $11.31. The stock has a market cap of $2.02 billion, a PE ratio of -46.05 and a beta of 1.47.

Target Hospitality (NASDAQ:TH) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.02). Target Hospitality had a negative return on equity of 11.11% and a negative net margin of 13.47%.The company had revenue of $72.78 million for the quarter, compared to analysts’ expectations of $73.20 million. On average, analysts anticipate that Target Hospitality Corp. will post -0.19 EPS for the current year.

Institutional Trading of Target Hospitality

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rubric Capital Management LP lifted its holdings in Target Hospitality by 9.5% in the 2nd quarter. Rubric Capital Management LP now owns 2,189,456 shares of the company’s stock valued at $15,589,000 after purchasing an additional 189,456 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Target Hospitality by 43.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,994,641 shares of the company’s stock worth $16,915,000 after purchasing an additional 600,181 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings 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 buying an additional 252,212 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings 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 worth $10,032,000 after buying an additional 147,950 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Target Hospitality by 4.5% in the first quarter. Renaissance Technologies LLC now owns 951,302 shares of the company’s stock valued at $8,828,000 after buying an additional 40,878 shares during the last quarter. Hedge funds and other institutional investors own 32.40% of the company’s stock.

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.