Target Hospitality (NASDAQ:TH) Announces Quarterly Earnings Results

Target Hospitality (NASDAQ:TH) announced its quarterly earnings data on Monday. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.02, FiscalAI reports. The firm had revenue of $85.45 million for the quarter, compared to analyst estimates 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

NASDAQ TH opened at $16.51 on Monday. The company’s 50 day simple moving average is $17.57 and its two-hundred day simple moving average is $13.59. Target Hospitality has a 1 year low of $5.97 and a 1 year high of $20.85. The stock has a market capitalization of $1.65 billion, a PE ratio of -37.52 and a beta of 1.50. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.85 and a quick ratio of 0.85.

Institutional Trading of Target Hospitality

Hedge funds have recently added to or reduced their stakes in the business. IFP Advisors Inc lifted its position in shares of Target Hospitality by 88.0% in the 3rd quarter. IFP Advisors Inc now owns 4,002 shares of the company’s stock worth $35,000 after purchasing an additional 1,873 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of Target Hospitality by 121.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,494 shares of the company’s stock worth $38,000 after purchasing an additional 2,465 shares in the last quarter. FourThought Financial Partners LLC purchased a new position in Target Hospitality in the 3rd quarter worth about $95,000. Tripletail Wealth Management LLC boosted its holdings in Target Hospitality by 62.2% in the fourth quarter. Tripletail Wealth Management LLC now owns 11,630 shares of the company’s stock worth $93,000 after purchasing an additional 4,460 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV purchased a new position in shares of Target Hospitality in the 4th quarter worth $118,000. 32.40% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TH. Oppenheimer boosted their target price on Target Hospitality from $21.00 to $24.00 and gave the company an “outperform” rating in a research report on Tuesday, July 14th. Weiss Ratings cut Target Hospitality from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft started coverage on Target Hospitality in a research report on Monday, June 1st. They set a “hold” rating and a $22.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Target Hospitality currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.33.

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.