Target Hospitality (NASDAQ:TH) Trading Up 6.4% on Analyst Upgrade

Target Hospitality Corp. (NASDAQ:TH)’s stock price rose 6.4% on Tuesday after Oppenheimer raised their price target on the stock from $21.00 to $24.00. Oppenheimer currently has an outperform rating on the stock. Target Hospitality traded as high as $18.06 and last traded at $17.8190. 196,219 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 1,039,311 shares. The stock had previously closed at $16.74.

TH has been the subject of a number of other research reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Target Hospitality in a report on Wednesday, June 24th. Stifel Nicolaus reiterated a “buy” rating and issued a $15.00 target price (up from $11.00) on shares of Target Hospitality in a research report on Monday, April 6th. Wall Street Zen upgraded Target Hospitality from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Target Hospitality in a research report on Monday, June 1st. They issued a “hold” rating and a $22.00 target price for the company. One 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 issued a Sell rating to the company. According to data from MarketBeat.com, Target Hospitality currently has an average rating of “Moderate Buy” and a consensus target price of $20.33.

Institutional Trading of Target Hospitality

Several hedge funds have recently modified their holdings of TH. IFP Advisors Inc raised its holdings in Target Hospitality by 88.0% in the third quarter. IFP Advisors Inc now owns 4,002 shares of the company’s stock valued at $35,000 after acquiring an additional 1,873 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Target Hospitality by 121.5% in the third quarter. Russell Investments Group Ltd. now owns 4,494 shares of the company’s stock valued at $38,000 after acquiring an additional 2,465 shares during the last quarter. Galaxy Digital Capital Management GP LLC acquired a new stake in shares of Target Hospitality during the first quarter worth about $67,000. Amundi purchased a new stake in shares of Target Hospitality in the 1st quarter valued at about $101,000. Finally, FourThought Financial Partners LLC purchased a new stake in shares of Target Hospitality in the 3rd quarter valued at about $95,000. 32.40% of the stock is currently owned by institutional investors and hedge funds.

Target Hospitality Trading Up 5.9%

The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of -40.28 and a beta of 1.46. The business has a 50-day moving average of $18.12 and a 200-day moving average of $12.53. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.85 and a current ratio of 0.85.

Target Hospitality (NASDAQ:TH) last announced its earnings results on Monday, May 11th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). The business had revenue of $72.78 million during the quarter, compared to analyst estimates of $73.20 million. Target Hospitality had a negative net margin of 13.47% and a negative return on equity of 11.11%. As a group, research analysts forecast that Target Hospitality Corp. will post -0.19 EPS for the current year.

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.