Target Hospitality (NASDAQ:TH) Issues Quarterly Earnings Results

Target Hospitality (NASDAQ:TH) issued its quarterly earnings data on Monday. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.03), Zacks reports. Target Hospitality had a net margin of 20.84% and a return on equity of 22.80%. The business had revenue of $69.90 million during the quarter, compared to analyst estimates of $65.37 million. During the same quarter in the prior year, the firm posted $0.20 earnings per share. Target Hospitality’s revenue for the quarter was down 34.5% compared to the same quarter last year.

Target Hospitality Stock Down 2.8%

Shares of TH traded down $0.21 during trading hours on Tuesday, reaching $7.25. 584,550 shares of the company traded hands, compared to its average volume of 602,679. The company has a market capitalization of $720.39 million, a price-to-earnings ratio of 8.33, a price-to-earnings-growth ratio of 1.81 and a beta of 1.89. The company’s fifty day moving average price is $6.60 and its two-hundred day moving average price is $7.99. Target Hospitality has a 12 month low of $4.00 and a 12 month high of $11.57.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TH. Empowered Funds LLC purchased a new stake in Target Hospitality during the 1st quarter valued at $660,000. Goldman Sachs Group Inc. raised its stake in Target Hospitality by 104.9% during the first quarter. Goldman Sachs Group Inc. now owns 280,288 shares of the company’s stock valued at $1,844,000 after purchasing an additional 143,505 shares in the last quarter. AQR Capital Management LLC purchased a new position in Target Hospitality during the first quarter worth $114,000. Finally, Royal Bank of Canada lifted its stake in shares of Target Hospitality by 3,549.2% during the 1st quarter. Royal Bank of Canada now owns 43,863 shares of the company’s stock worth $289,000 after acquiring an additional 42,661 shares during the last quarter. 32.40% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Stifel Nicolaus upped their target price on Target Hospitality from $5.00 to $7.50 and gave the company a “hold” rating in a research report on Monday, March 31st. Northland Capmk raised shares of Target Hospitality from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 29th. Finally, Northland Securities upgraded Target Hospitality from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $11.00 to $15.00 in a research report on Wednesday, January 29th.

About Target Hospitality

Target Hospitality Corp. operates as a specialty rental and hospitality services company in North America. The company operates through two segments, Hospitality & Facilities Services – South and Government. It owns a network of specialty rental accommodation units. In addition, the company provides catering and food, maintenance, housekeeping, grounds-keeping, security, health and recreation facilities, workforce community management, concierge, and laundry services.