Vanguard Group Inc. Grows Stake in Target Hospitality Corp. (NASDAQ:TH)

Vanguard Group Inc. increased its stake in Target Hospitality Corp. (NASDAQ:TH) by 44.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,689,440 shares of the company’s stock after acquiring an additional 523,398 shares during the period. Vanguard Group Inc.’s holdings in Target Hospitality were worth $26,828,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TH. Raymond James & Associates purchased a new position in Target Hospitality in the first quarter worth about $70,000. Charles Schwab Investment Management Inc. grew its position in Target Hospitality by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 67,987 shares of the company’s stock worth $408,000 after acquiring an additional 3,199 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Target Hospitality by 17.1% in the first quarter. Renaissance Technologies LLC now owns 311,500 shares of the company’s stock worth $1,869,000 after purchasing an additional 45,452 shares during the last quarter. Engineers Gate Manager LP lifted its stake in Target Hospitality by 652.4% in the first quarter. Engineers Gate Manager LP now owns 79,099 shares of the company’s stock worth $475,000 after purchasing an additional 68,586 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Target Hospitality by 28.0% in the first quarter. Goldman Sachs Group Inc. now owns 68,452 shares of the company’s stock worth $411,000 after purchasing an additional 14,983 shares during the last quarter. Hedge funds and other institutional investors own 32.40% of the company’s stock.

Target Hospitality Stock Performance

Target Hospitality stock opened at $10.71 on Friday. The company has a 50 day moving average price of $9.67 and a 200-day moving average price of $10.98. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.57 and a current ratio of 2.57. Target Hospitality Corp. has a fifty-two week low of $8.49 and a fifty-two week high of $16.80. The company has a market capitalization of $1.08 billion, a PE ratio of 6.95, a P/E/G ratio of 1.14 and a beta of 2.09.

Target Hospitality (NASDAQ:TH) last posted its quarterly earnings results on Wednesday, March 13th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.05. Target Hospitality had a net margin of 29.53% and a return on equity of 53.91%. The firm had revenue of $126.20 million during the quarter, compared to the consensus estimate of $118.00 million. During the same quarter in the previous year, the firm posted $0.31 earnings per share. The company’s revenue was down 17.2% on a year-over-year basis. As a group, equities analysts forecast that Target Hospitality Corp. will post 0.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TH. TheStreet downgraded shares of Target Hospitality from a “b” rating to a “c+” rating in a research note on Monday, January 22nd. Oppenheimer decreased their price objective on shares of Target Hospitality from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Monday, March 25th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $12.00 price objective (down previously from $13.00) on shares of Target Hospitality in a research note on Friday.

Target Hospitality Profile

Target Hospitality Corp. operates as a specialty rental and hospitality services company in North America. The company operates through two segments, Hospitality & Facilities Services – South and Government. It owns a network of specialty rental accommodation units. In addition, the company provides catering and food, maintenance, housekeeping, grounds-keeping, security, health and recreation facilities, workforce community management, concierge, and laundry services.