Target Hospitality (NASDAQ:TH) Sets New 12-Month High – Here’s Why

Target Hospitality Corp. (NASDAQ:TH) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $21.20 and last traded at $21.0670, with a volume of 190919 shares traded. The stock had previously closed at $20.76.

Analyst Ratings Changes

TH has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $23.00 price target on shares of Target Hospitality in a research note on Thursday, August 27th. Stifel Nicolaus set a $26.00 price objective on Target Hospitality in a research note on Thursday, August 27th. Weiss Ratings upgraded shares of Target Hospitality from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, August 21st. Oppenheimer boosted their target price on shares of Target Hospitality from $24.00 to $27.00 and gave the stock an “outperform” rating in a report on Tuesday, September 8th. Finally, Morgan Stanley upped their price target on shares of Target Hospitality from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Target Hospitality presently has an average rating of “Moderate Buy” and an average price target of $25.20.

Target Hospitality Stock Performance

The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of -55.84 and a beta of 1.51. The company has a 50 day simple moving average of $17.34 and a 200-day simple moving average of $15.84. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.11.

Target Hospitality (NASDAQ:TH) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.02. The company had revenue of $85.45 million during the quarter, compared to the consensus estimate of $79.30 million. Target Hospitality had a negative net margin of 10.85% and a negative return on equity of 9.80%. As a group, equities research analysts expect that Target Hospitality Corp. will post -0.05 EPS for the current fiscal year.

Insider Buying and Selling at Target Hospitality

In related news, CEO James Archer acquired 13,385 shares of the business’s stock in a transaction dated Tuesday, September 15th. The shares were bought at an average price of $18.69 per share, with a total value of $250,165.65. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.80% of the company’s stock.

Institutional Trading of Target Hospitality

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Target Hospitality during the second quarter worth approximately $64,312,000. HighTower Advisors LLC grew its position in Target Hospitality by 14.9% in the 2nd quarter. HighTower Advisors LLC now owns 1,842,267 shares of the company’s stock valued at $37,509,000 after purchasing an additional 238,280 shares during the period. Dimensional Fund Advisors LP increased its stake in Target Hospitality by 21.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,428,773 shares of the company’s stock valued at $13,259,000 after purchasing an additional 252,212 shares in the last quarter. Senator Investment Group LP bought a new stake in Target Hospitality during the 2nd quarter valued at $28,491,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in 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 during the last quarter. 32.40% of the stock is owned by institutional investors.

Target Hospitality Company Profile

Target Hospitality Corp. (NASDAQ: TH) provides specialty hospitality and workforce accommodation services in North America. The company supports organizations that require temporary or long-term housing and related services in remote, industrial, government, and other challenging operating environments.

Its offerings include modular and prefabricated accommodations, lodging management, food and catering services, housekeeping, maintenance, transportation, security, and other on-site support.