Target Hospitality Corp. (NYSE:TH) Expected to Post Quarterly Sales of $86.44 Million

Equities analysts expect Target Hospitality Corp. (NYSE:TH) to report $86.44 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Target Hospitality’s earnings, with the highest sales estimate coming in at $87.40 million and the lowest estimate coming in at $85.10 million. The business is scheduled to report its next quarterly earnings results on Tuesday, November 12th.

According to Zacks, analysts expect that Target Hospitality will report full-year sales of $344.28 million for the current year, with estimates ranging from $340.72 million to $347.80 million. For the next year, analysts forecast that the business will post sales of $375.27 million, with estimates ranging from $351.36 million to $391.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Target Hospitality.

Target Hospitality (NYSE:TH) last released its quarterly earnings results on Tuesday, August 13th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). The business had revenue of $81.36 million during the quarter, compared to analysts’ expectations of $82.58 million.

TH has been the topic of several analyst reports. National Bank of Canada reissued a “sector perform” rating on shares of Target Hospitality in a report on Friday, July 12th. Oppenheimer began coverage on shares of Target Hospitality in a report on Thursday, May 23rd. They issued an “outperform” rating and a $13.00 price objective on the stock. Northland Securities reiterated a “buy” rating and issued a $12.00 price objective on shares of Target Hospitality in a research note on Tuesday, September 3rd. Stifel Nicolaus assumed coverage on shares of Target Hospitality in a report on Wednesday, May 15th. They set a “buy” rating and a $10.59 target price for the company. Finally, Credit Suisse Group initiated coverage on shares of Target Hospitality in a report on Thursday, May 23rd. They set an “outperform” rating and a $13.00 target price for the company. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $12.52.

In related news, Director Jeffrey Sagansky purchased 20,000 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were acquired at an average cost of $5.95 per share, for a total transaction of $119,000.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO James B. Archer purchased 64,084 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were bought at an average price of $6.24 per share, for a total transaction of $399,884.16. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 151,584 shares of company stock valued at $982,659.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Bank of Montreal Can purchased a new position in shares of Target Hospitality during the second quarter valued at $25,000. Strs Ohio bought a new position in shares of Target Hospitality in the second quarter worth about $80,000. JPMorgan Chase & Co. increased its position in Target Hospitality by 885.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 11,830 shares of the company’s stock worth $107,000 after buying an additional 10,630 shares during the period. Creative Planning bought a new position in Target Hospitality in the 2nd quarter worth approximately $138,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Target Hospitality by 981.6% during the second quarter. Tower Research Capital LLC TRC now owns 18,204 shares of the company’s stock worth $166,000 after buying an additional 16,521 shares during the last quarter.

TH traded up $0.02 during midday trading on Friday, reaching $7.02. 184,662 shares of the company’s stock traded hands, compared to its average volume of 322,692. The firm has a fifty day moving average price of $7.17. Target Hospitality has a 52 week low of $5.65 and a 52 week high of $12.11.

About Target Hospitality

Target Hospitality Corp., through its subsidiaries, provides specialty rental accommodations with catering and value-added hospitality services in the United States. The company was formerly known as Platinum Eagle Acquisition Corp. and changed its name to Target Hospitality Corp. in March 2019. The company is headquartered in The Woodlands, Texas.

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