Zacks: Brokerages Anticipate Target Hospitality Corp. (NASDAQ:TH) Will Post Quarterly Sales of $79.77 Million

Equities research analysts forecast that Target Hospitality Corp. (NASDAQ:THGet Rating) will post sales of $79.77 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Target Hospitality’s earnings. The highest sales estimate is $81.80 million and the lowest is $78.10 million. Target Hospitality reported sales of $45.49 million in the same quarter last year, which indicates a positive year over year growth rate of 75.4%. The business is expected to report its next quarterly earnings report before the market opens on Monday, January 1st.

According to Zacks, analysts expect that Target Hospitality will report full-year sales of $332.13 million for the current financial year, with estimates ranging from $330.00 million to $335.90 million. For the next financial year, analysts anticipate that the business will post sales of $341.17 million, with estimates ranging from $340.00 million to $343.50 million. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for Target Hospitality.

Target Hospitality (NASDAQ:THGet Rating) last released its quarterly earnings results on Thursday, March 10th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.05. Target Hospitality had a negative net margin of 1.57% and a negative return on equity of 5.04%. The company had revenue of $81.69 million for the quarter, compared to analyst estimates of $75.40 million.

A number of brokerages recently issued reports on TH. TheStreet raised shares of Target Hospitality from a “d” rating to a “c-” rating in a research report on Monday, March 7th. Zacks Investment Research raised shares of Target Hospitality from a “hold” rating to a “strong-buy” rating and set a $6.25 price target on the stock in a report on Tuesday, March 15th. Three research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Target Hospitality currently has an average rating of “Buy” and a consensus target price of $5.44.

Shares of TH stock opened at $6.71 on Wednesday. Target Hospitality has a 1 year low of $2.23 and a 1 year high of $7.68. The business’s fifty day moving average is $5.76. The company has a market capitalization of $684.10 million, a price-to-earnings ratio of -133.20, a P/E/G ratio of 5.21 and a beta of 1.93. The company has a debt-to-equity ratio of 3.40, a current ratio of 0.83 and a quick ratio of 0.83.

In related news, insider Troy C. Schrenk sold 21,000 shares of the company’s stock in a transaction dated Tuesday, March 15th. The shares were sold at an average price of $6.00, for a total transaction of $126,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 68.20% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Morgan Stanley lifted its position in Target Hospitality by 3.8% during the 1st quarter. Morgan Stanley now owns 114,661 shares of the company’s stock valued at $288,000 after purchasing an additional 4,219 shares during the period. Citadel Advisors LLC lifted its position in Target Hospitality by 373.6% during the 2nd quarter. Citadel Advisors LLC now owns 54,150 shares of the company’s stock valued at $201,000 after purchasing an additional 42,717 shares during the period. Millennium Management LLC acquired a new position in Target Hospitality during the 2nd quarter valued at about $294,000. SG Americas Securities LLC acquired a new position in Target Hospitality during the 3rd quarter valued at about $41,000. Finally, Russell Investments Group Ltd. raised its position in shares of Target Hospitality by 1,483.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 736,475 shares of the company’s stock valued at $2,745,000 after acquiring an additional 689,975 shares during the period. Institutional investors and hedge funds own 19.55% of the company’s stock.

About Target Hospitality (Get Rating)

Target Hospitality Corp. operates as a specialty rental and hospitality services company in North America. The company operates through four segments: Hospitality & Facilities Services – South, Hospitality & Facilities Services – Midwest, Government, and TCPL Keystone. It owns a network of specialty rental accommodation units with approximately 15,528 beds across 27 communities, which include 26 owned and 1 leased; and operates 1 community not owned or leased by the company.

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