Zacks Investment Research Upgrades Target Hospitality (NYSE:TH) to “Hold”

Target Hospitality (NYSE:TH) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Saturday, Zacks.com reports.

According to Zacks, “Target Hospitality Corp. is the holding company for Target Lodging, Signor Lodging and their respective subsidiaries. The company, through Target Lodging and Signor Lodging, builds, owns and operates customized housing communities for hospitality solutions including culinary, catering, concierge, laundry and security services as well as recreational facilities. It primarily serves the oil and gas, energy and government sectors. Target Hospitality Corp., formerly knonw as Platinum Eagle Acquisition Corp., is headquartered in The Woodlands, Texas. “

TH has been the topic of several other research reports. National Bank of Canada restated a “sector perform” rating on shares of Target Hospitality in a report on Friday, July 12th. Northland Securities restated a “buy” rating and issued a $12.00 target price on shares of Target Hospitality in a report on Tuesday, September 3rd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Target Hospitality currently has a consensus rating of “Buy” and an average target price of $12.52.

Shares of TH traded down $0.06 on Friday, hitting $5.61. 131,174 shares of the stock traded hands, compared to its average volume of 290,356. The firm has a 50 day simple moving average of $6.14. Target Hospitality has a one year low of $5.21 and a one year high of $12.11.

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

In other Target Hospitality news, Director Jeffrey Sagansky purchased 55,000 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were acquired at an average price of $6.93 per share, for a total transaction of $381,150.00. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eli Baker purchased 7,500 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were acquired at an average price of $6.85 per share, for a total transaction of $51,375.00. The disclosure for this purchase can be found here. Insiders purchased 151,584 shares of company stock worth $982,659 in the last 90 days.

Institutional investors have recently modified their holdings of the company. Bank of Montreal Can purchased a new position in shares of Target Hospitality during the 2nd quarter worth $25,000. California Public Employees Retirement System purchased a new position in shares of Target Hospitality during the 3rd quarter valued at $70,000. Strs Ohio purchased a new position in shares of Target Hospitality during the 2nd quarter valued at $80,000. JPMorgan Chase & Co. lifted its stake in shares of Target Hospitality by 885.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 11,830 shares of the company’s stock valued at $107,000 after buying an additional 10,630 shares in the last quarter. Finally, Creative Planning lifted its stake in shares of Target Hospitality by 20.0% during the 3rd quarter. Creative Planning now owns 18,160 shares of the company’s stock valued at $124,000 after buying an additional 3,025 shares in the last quarter.

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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