Target Hospitality (NASDAQ:TH) Announces Earnings Results, Beats Estimates By $0.02 EPS

Target Hospitality (NASDAQ:TH) announced its earnings results on Monday. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02, FiscalAI reports. The business 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 stock has a market cap of $1.65 billion, a P/E ratio of -37.52 and a beta of 1.50. The company’s 50-day simple moving average is $17.57 and its 200 day simple moving average is $13.59. Target Hospitality has a twelve month low of $5.97 and a twelve month high of $20.85. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.08.

Analysts Set New Price Targets

Several research firms have issued reports on TH. Oppenheimer raised their price target 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. Deutsche Bank Aktiengesellschaft started coverage on shares of Target Hospitality in a research report on Monday, June 1st. They set a “hold” rating and a $22.00 price objective for the company. Finally, Weiss Ratings cut shares of Target Hospitality from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday. One 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. According to MarketBeat.com, Target Hospitality has a consensus rating of “Moderate Buy” and a consensus target price of $20.33.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rubric Capital Management LP grew its stake in shares of Target Hospitality by 9.5% in the 2nd quarter. Rubric Capital Management LP now owns 2,189,456 shares of the company’s stock valued at $15,589,000 after purchasing an additional 189,456 shares during the period. Vanguard Group Inc. raised its holdings in shares of Target Hospitality by 43.0% in 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 in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Target Hospitality by 17.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,176,561 shares of the company’s stock worth $9,425,000 after buying an additional 171,324 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of Target Hospitality by 25.2% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,051,089 shares of the company’s stock worth $8,913,000 after buying an additional 211,634 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Target Hospitality by 1.8% in the 2nd quarter. Geode Capital Management LLC now owns 845,378 shares of the company’s stock valued at $6,020,000 after buying an additional 14,825 shares in the last quarter. Institutional investors own 32.40% of the company’s stock.

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.