Target Hospitality (NASDAQ:TH) Reaches New 52-Week High – Still a Buy?

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TH. Weiss Ratings raised shares of Target Hospitality from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, August 21st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $23.00 target price on shares of Target Hospitality in a report on Thursday, August 27th. Morgan Stanley lifted their price target on shares of Target Hospitality from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, September 14th. Northland Securities set a $25.00 price target on Target Hospitality in a research note on Thursday, August 27th. Finally, Stifel Nicolaus set a $26.00 price target on Target Hospitality in a research report on Thursday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.20.

Target Hospitality Stock Performance

The stock’s fifty day moving average price is $17.66 and its two-hundred day moving average price is $16.22. 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 company has a market cap of $2.10 billion, a P/E ratio of -55.67 and a beta of 1.51.

Target Hospitality (NASDAQ:TH) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. Target Hospitality had a negative net margin of 10.85% and a negative return on equity of 9.80%. The business had revenue of $85.45 million for the quarter, compared to analysts’ expectations of $79.30 million. As a group, equities analysts predict that Target Hospitality Corp. will post -0.05 earnings per share for the current year.

Insiders Place Their Bets

In other Target Hospitality news, CEO James Archer acquired 13,385 shares of Target Hospitality stock in a transaction that occurred on Tuesday, September 15th. The shares were acquired at an average cost of $18.69 per share, with a total value of $250,165.65. Following the completion of the purchase, the chief executive officer directly owned 1,845,441 shares of the company’s stock, valued at $34,491,292.29. This represents a 0.73% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Troy C. Schrenk bought 5,907 shares of the firm’s stock in a transaction on Friday, September 18th. The stock was acquired at an average price of $21.16 per share, for a total transaction of $124,992.12. Following the transaction, the insider owned 216,995 shares of the company’s stock, valued at approximately $4,591,614.20. The trade was a 2.80% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 3.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. WINTON GROUP Ltd acquired a new position in Target Hospitality during the 2nd quarter worth approximately $1,498,000. HighTower Advisors LLC boosted its position in 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 stake in Target Hospitality in the second quarter valued at approximately $471,000. Senator Investment Group LP bought a new stake in shares of Target Hospitality during the second quarter worth $28,491,000. Finally, Moore Capital Management LP bought a new stake in shares of Target Hospitality during the second quarter worth $509,000. Institutional investors own 32.40% of the company’s stock.

About Target Hospitality

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.