FY2023 EPS Estimates for Target Hospitality Corp. (NASDAQ:TH) Increased by Analyst

Target Hospitality Corp. (NASDAQ:TH) – Equities research analysts at Northland Capmk raised their FY2023 earnings estimates for shares of Target Hospitality in a report issued on Thursday, November 9th. Northland Capmk analyst G. Gibas now expects that the company will post earnings per share of $1.57 for the year, up from their prior estimate of $1.50. The consensus estimate for Target Hospitality’s current full-year earnings is $1.60 per share. Northland Capmk also issued estimates for Target Hospitality’s FY2024 earnings at $0.74 EPS.

Target Hospitality (NASDAQ:TH) last announced its earnings results on Wednesday, November 8th. The company reported $0.43 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.43. Target Hospitality had a net margin of 28.39% and a return on equity of 69.23%. The company had revenue of $145.60 million during the quarter, compared to the consensus estimate of $140.77 million. During the same period in the previous year, the firm posted $0.41 earnings per share. The company’s revenue was down 8.8% on a year-over-year basis.

Separately, Oppenheimer boosted their price objective on shares of Target Hospitality from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Tuesday, October 3rd.

Target Hospitality Stock Performance

Shares of NASDAQ TH opened at $11.44 on Friday. The stock has a market cap of $1.16 billion, a P/E ratio of 7.33, a P/E/G ratio of 0.61 and a beta of 2.16. The firm has a 50 day moving average price of $14.67 and a 200 day moving average price of $14.21. Target Hospitality has a 52-week low of $11.36 and a 52-week high of $18.48.

Hedge Funds Weigh In On Target Hospitality

Institutional investors and hedge funds have recently modified their holdings of the business. Private Capital Management LLC grew its stake in Target Hospitality by 9.0% during the second quarter. Private Capital Management LLC now owns 5,880,567 shares of the company’s stock worth $33,578,000 after buying an additional 483,661 shares in the last quarter. BlackRock Inc. grew its stake in Target Hospitality by 7.9% during the second quarter. BlackRock Inc. now owns 2,033,655 shares of the company’s stock worth $27,292,000 after buying an additional 149,649 shares in the last quarter. Vanguard Group Inc. grew its stake in Target Hospitality by 1.5% during the third quarter. Vanguard Group Inc. now owns 1,509,539 shares of the company’s stock worth $19,049,000 after buying an additional 22,182 shares in the last quarter. HighTower Advisors LLC lifted its holdings in shares of Target Hospitality by 13,213.9% in the third quarter. HighTower Advisors LLC now owns 1,331,390 shares of the company’s stock worth $21,143,000 after acquiring an additional 1,321,390 shares during the last quarter. Finally, Kent Lake Capital LLC lifted its holdings in shares of Target Hospitality by 50.0% in the second quarter. Kent Lake Capital LLC now owns 900,000 shares of the company’s stock worth $12,078,000 after acquiring an additional 300,000 shares during the last quarter. 31.96% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Target Hospitality news, insider Troy C. Schrenk sold 30,277 shares of the company’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $15.55, for a total transaction of $470,807.35. Following the sale, the insider now directly owns 58,245 shares of the company’s stock, valued at $905,709.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Target Hospitality news, insider Troy C. Schrenk sold 30,277 shares of the company’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $15.55, for a total value of $470,807.35. Following the transaction, the insider now directly owns 58,245 shares in the company, valued at $905,709.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Troy C. Schrenk sold 2,223 shares of the company’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $15.52, for a total transaction of $34,500.96. Following the completion of the transaction, the insider now owns 89,465 shares in the company, valued at $1,388,496.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 84,808 shares of company stock valued at $1,331,146. 68.20% of the stock is currently owned by corporate insiders.

Target Hospitality Company Profile

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.