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

Target Hospitality (NYSE:TH) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Friday, 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. “

Other equities analysts have also issued research reports about the company. National Bank Financial cut their price target on Target Hospitality from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research note on Saturday, December 21st. Oppenheimer lowered Target Hospitality from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 19th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Target Hospitality currently has an average rating of “Buy” and a consensus price target of $11.43.

Shares of NYSE TH traded down $0.15 during midday trading on Friday, reaching $5.18. 730 shares of the stock traded hands, compared to its average volume of 152,130. Target Hospitality has a one year low of $3.80 and a one year high of $12.11. The company’s 50 day moving average is $5.21 and its 200 day moving average is $5.81.

Target Hospitality (NYSE:TH) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). The company had revenue of $81.64 million during the quarter, compared to the consensus estimate of $86.39 million.

In other news, insider Troy C. Schrenk purchased 8,972 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were purchased at an average price of $4.75 per share, for a total transaction of $42,617.00. Also, Director Andrew P. Studdert purchased 20,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were purchased at an average price of $4.82 per share, for a total transaction of $96,400.00. Following the purchase, the director now directly owns 70,000 shares in the company, valued at $337,400. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 66,131 shares of company stock valued at $302,373.

Hedge funds have recently made changes to their positions in the business. Private Capital Management LLC increased its position in Target Hospitality by 27.3% during the third quarter. Private Capital Management LLC now owns 2,431,847 shares of the company’s stock worth $16,561,000 after buying an additional 521,033 shares in the last quarter. Monarch Partners Asset Management LLC lifted its stake in shares of Target Hospitality by 7.9% during the third quarter. Monarch Partners Asset Management LLC now owns 1,439,383 shares of the company’s stock worth $9,802,000 after purchasing an additional 105,323 shares in the last quarter. Vanguard Group Inc. acquired a new position in shares of Target Hospitality in the second quarter worth about $10,802,000. STA Wealth Management LLC lifted its stake in shares of Target Hospitality by 1,058.3% in the fourth quarter. STA Wealth Management LLC now owns 1,066,612 shares of the company’s stock worth $5,333,000 after acquiring an additional 974,528 shares in the last quarter. Finally, State Street Corp raised its stake in Target Hospitality by 5.2% during the fourth quarter. State Street Corp now owns 600,655 shares of the company’s stock valued at $3,003,000 after buying an additional 29,817 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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