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

Target Hospitality Corp. (NASDAQ:TH) reached a new 52-week high on Thursday . The stock traded as high as $21.76 and last traded at $21.3610, with a volume of 980323 shares changing hands. The stock had previously closed at $21.20.

Analyst Upgrades and Downgrades

TH has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $23.00 price objective on shares of Target Hospitality in a report on Thursday, August 27th. Stifel Nicolaus set a $26.00 price target on shares of Target Hospitality in a research report on Thursday, August 27th. Oppenheimer raised their price target on shares of Target Hospitality from $24.00 to $27.00 and gave the company an “outperform” rating in a research note on Tuesday, September 8th. Morgan Stanley raised their price target on shares of Target Hospitality from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, September 14th. Finally, Weiss Ratings upgraded shares of Target Hospitality from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $25.20.

Target Hospitality Price Performance

The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.65 and a current ratio of 0.65. The business has a 50 day moving average price of $17.66 and a 200-day moving average price of $16.22. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of -55.67 and a beta of 1.51.

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

Insider Activity at Target Hospitality

In related news, CEO James Archer bought 13,385 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The shares were bought at an average price of $18.69 per share, for a total transaction of $250,165.65. Following the transaction, the chief executive officer directly owned 1,845,441 shares of the company’s stock, valued at approximately $34,491,292.29. The trade was a 0.73% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Troy C. Schrenk bought 5,907 shares of the business’s stock in a transaction that occurred on Friday, September 18th. The shares were bought at an average cost of $21.16 per share, for a total transaction of $124,992.12. Following the completion of the purchase, the insider owned 216,995 shares of the company’s stock, valued at $4,591,614.20. This represents a 2.80% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Target Hospitality

Hedge funds and other institutional investors have recently bought and sold shares of the stock. WINTON GROUP Ltd bought a new stake in Target Hospitality during the 2nd quarter valued at $1,498,000. HighTower Advisors LLC lifted its stake in shares of Target Hospitality by 14.9% in the second quarter. HighTower Advisors LLC now owns 1,842,267 shares of the company’s stock valued at $37,509,000 after buying an additional 238,280 shares in the last quarter. AXQ Capital LP acquired a new position in shares of Target Hospitality during the second quarter valued at about $471,000. Senator Investment Group LP acquired a new position in shares of Target Hospitality during the second quarter valued at about $28,491,000. Finally, Moore Capital Management LP bought a new stake in shares of Target Hospitality during the second quarter worth about $509,000. 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.