Target Hospitality (NASDAQ:TH) Reaches New 52-Week High – Here’s Why

Target Hospitality Corp. (NASDAQ:TH)’s share price reached a new 52-week high on Wednesday . The company traded as high as $12.30 and last traded at $12.5350, with a volume of 1475413 shares. The stock had previously closed at $9.28.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on TH shares. Texas Capital upgraded Target Hospitality from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 12th. Oppenheimer raised Target Hospitality from a “market perform” rating to an “outperform” rating and set a $11.00 price objective on the stock in a research report on Tuesday, March 17th. Wall Street Zen lowered Target Hospitality from a “hold” rating to a “sell” rating in a research note on Saturday, March 14th. Stifel Nicolaus set a $11.00 target price on shares of Target Hospitality in a report on Wednesday, March 11th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Target Hospitality in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

Target Hospitality Stock Up 34.0%

The business has a 50 day simple moving average of $7.91 and a 200 day simple moving average of $7.84. The company has a market capitalization of $1.25 billion, a PE ratio of -32.67 and a beta of 1.36.

Target Hospitality (NASDAQ:TH) last issued its quarterly earnings results on Wednesday, March 11th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.05). The company had revenue of $89.78 million for the quarter, compared to analyst estimates of $85.20 million. Target Hospitality had a negative net margin of 11.58% and a negative return on equity of 8.65%. Equities analysts expect that Target Hospitality Corp. will post 0.65 EPS for the current fiscal year.

Insider Transactions at Target Hospitality

In related news, EVP Heidi Diane Lewis sold 9,000 shares of the firm’s stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $7.34, for a total value of $66,060.00. Following the completion of the transaction, the executive vice president owned 131,742 shares in the company, valued at $966,986.28. This trade represents a 6.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 68.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Cooper Creek Partners Management LLC acquired a new stake in shares of Target Hospitality during the second quarter worth about $8,556,000. 71 West Capital Partners purchased a new position in Target Hospitality during the 4th quarter worth approximately $7,147,000. Vanguard Group Inc. raised its position in Target Hospitality by 43.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,994,641 shares of the company’s stock worth $16,915,000 after buying an additional 600,181 shares during the last quarter. Royce & Associates LP acquired a new stake in Target Hospitality during the 4th quarter valued at approximately $2,801,000. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Target Hospitality by 25.2% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,051,089 shares of the company’s stock valued at $8,913,000 after acquiring an additional 211,634 shares during the last quarter. 32.40% of the stock is currently owned by hedge funds and other institutional investors.

Target Hospitality Company 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.