Hsbc Holdings PLC Acquires New Shares in Target Hospitality Corp. $TH

Hsbc Holdings PLC acquired a new position in Target Hospitality Corp. (NASDAQ:TH) in the second quarter, HoldingsChannel reports. The fund acquired 75,108 shares of the company’s stock, valued at approximately $1,506,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new stake in shares of Target Hospitality in the 2nd quarter valued at about $27,000. Deutsche Bank AG boosted its stake in shares of Target Hospitality by 4.8% during the fourth quarter. Deutsche Bank AG now owns 33,634 shares of the company’s stock valued at $269,000 after purchasing an additional 1,526 shares in the last quarter. AdvisorShares Investments LLC increased its holdings in Target Hospitality by 17.9% during the fourth quarter. AdvisorShares Investments LLC now owns 11,820 shares of the company’s stock valued at $95,000 after buying an additional 1,798 shares during the period. IFP Advisors Inc raised its stake in Target Hospitality by 88.0% in the third quarter. IFP Advisors Inc now owns 4,002 shares of the company’s stock worth $35,000 after buying an additional 1,873 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Target Hospitality by 121.5% in the third quarter. Russell Investments Group Ltd. now owns 4,494 shares of the company’s stock worth $38,000 after buying an additional 2,465 shares in the last quarter. 32.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $23.00 price target on shares of Target Hospitality in a report on Thursday. Weiss Ratings upgraded Target Hospitality from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, August 21st. Northland Securities set a $25.00 target price on shares of Target Hospitality in a report on Thursday. Stifel Nicolaus set a $26.00 price target on shares of Target Hospitality in a research report on Thursday. Finally, Oppenheimer lifted their price objective 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. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Target Hospitality presently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

Target Hospitality Stock Performance

Shares of TH opened at $18.52 on Tuesday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.11. The firm has a market cap of $1.84 billion, a PE ratio of -48.74 and a beta of 1.50. Target Hospitality Corp. has a 12 month low of $5.97 and a 12 month high of $20.85. The stock has a fifty day moving average price of $17.38 and a 200-day moving average price of $14.74.

Target Hospitality (NASDAQ:TH) last announced its earnings results on Monday, August 10th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.02. Target Hospitality had a negative return on equity of 9.80% and a negative net margin of 10.85%.The firm had revenue of $85.45 million for the quarter, compared to the consensus estimate of $79.30 million. Equities research analysts predict that Target Hospitality Corp. will post -0.08 earnings per share for the current fiscal year.

Target Hospitality 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.