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

Target Hospitality Corp. (NASDAQ:TH) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $20.34 and last traded at $20.4350, with a volume of 864381 shares changing hands. The stock had previously closed at $20.16.

Wall Street Analysts Forecast Growth

Several analysts have commented on TH shares. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Target Hospitality in a research note on Monday, June 1st. They issued a “hold” rating and a $22.00 target price for the company. Stifel Nicolaus reissued a “buy” rating and set a $15.00 price target (up from $11.00) on shares of Target Hospitality in a research note on Monday, April 6th. Texas Capital upgraded Target Hospitality from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 12th. Wall Street Zen raised Target Hospitality from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. Finally, Oppenheimer increased their target price on Target Hospitality from $18.00 to $21.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $19.33.

Target Hospitality Price Performance

The company’s 50-day moving average is $16.69 and its 200-day moving average is $11.31. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of -46.05 and a beta of 1.47. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.85 and a quick ratio of 0.85.

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

Institutional Trading of Target Hospitality

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Capelight Capital Asset Management LP acquired a new position in Target Hospitality in the fourth quarter valued at $481,000. Tudor Investment Corp ET AL increased its stake in Target Hospitality by 29.4% during the third quarter. Tudor Investment Corp ET AL now owns 291,903 shares of the company’s stock worth $2,475,000 after acquiring an additional 66,322 shares during the last quarter. Kore Advisors LP increased its stake in Target Hospitality by 30.9% during the fourth quarter. Kore Advisors LP now owns 425,213 shares of the company’s stock worth $3,406,000 after acquiring an additional 100,418 shares during the last quarter. 71 West Capital Partners purchased a new position in shares of Target Hospitality in the 4th quarter worth about $7,147,000. Finally, Royce & Associates LP purchased a new position in shares of Target Hospitality in the 4th quarter worth about $2,801,000. 32.40% of the stock is currently owned by institutional investors and hedge funds.

About Target Hospitality

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.