Target Hospitality (NASDAQ:TH) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Target Hospitality (NASDAQ:TH) issued its quarterly earnings data on Monday. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.02, FiscalAI reports. The firm had revenue of $85.45 million for the quarter, compared to analysts’ expectations of $79.30 million. Target Hospitality had a negative net margin of 13.47% and a negative return on equity of 11.11%.

Target Hospitality Stock Performance

Shares of Target Hospitality stock opened at $16.51 on Monday. Target Hospitality has a twelve month low of $5.97 and a twelve month high of $20.85. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.08. The business has a 50-day moving average price of $17.57 and a 200-day moving average price of $13.59. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of -37.52 and a beta of 1.50.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Invesco Ltd. increased its position in Target Hospitality by 20.1% in the fourth quarter. Invesco Ltd. now owns 70,385 shares of the company’s stock worth $564,000 after purchasing an additional 11,793 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new position in Target Hospitality during the fourth quarter valued at $118,000. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Target Hospitality in the 4th quarter worth $448,000. Empowered Funds LLC raised its position in shares of Target Hospitality by 34.1% during the 4th quarter. Empowered Funds LLC now owns 216,340 shares of the company’s stock valued at $1,733,000 after buying an additional 55,046 shares in the last quarter. Finally, Millennium Management LLC bought a new position in shares of Target Hospitality in the 4th quarter valued at about $167,000. 32.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Oppenheimer increased their price target on shares of Target Hospitality from $21.00 to $24.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Target Hospitality in a research report on Monday, June 1st. They set a “hold” rating and a $22.00 price objective for the company. Finally, Weiss Ratings lowered Target Hospitality from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.33.

Target Hospitality Company Profile

Target Hospitality is a lodging solutions provider specializing in the ownership and operation of modular workforce housing communities across North America. The company serves large-scale clients in the energy, mining, construction and government sectors that require temporary or long-term accommodations for remote workforces. Its housing portfolio includes suite-style units, single-family cabins and “man-camp” dormitories, designed to match project size, duration and workforce composition.

In addition to lodging, Target Hospitality delivers integrated support services such as on-site dining and culinary management, housekeeping, maintenance, facility management and logistics planning.