Alliancebernstein L.P. Cuts Holdings in Target Hospitality Corp. (NASDAQ:TH)

Alliancebernstein L.P. lowered its holdings in Target Hospitality Corp. (NASDAQ:TH) by 8.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,320 shares of the company’s stock after selling 4,590 shares during the quarter. Alliancebernstein L.P.’s holdings in Target Hospitality were worth $467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. State Street Corp boosted its holdings in Target Hospitality by 1.7% in the third quarter. State Street Corp now owns 725,905 shares of the company’s stock worth $5,648,000 after purchasing an additional 12,087 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Target Hospitality by 9.3% in the third quarter. Geode Capital Management LLC now owns 855,069 shares of the company’s stock worth $6,654,000 after acquiring an additional 72,579 shares during the period. SG Americas Securities LLC grew its holdings in shares of Target Hospitality by 16.3% in the fourth quarter. SG Americas Securities LLC now owns 16,110 shares of the company’s stock worth $156,000 after acquiring an additional 2,262 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Target Hospitality by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 277,557 shares of the company’s stock valued at $2,683,000 after acquiring an additional 5,967 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in Target Hospitality by 18.4% in the fourth quarter. Victory Capital Management Inc. now owns 44,389 shares of the company’s stock valued at $429,000 after acquiring an additional 6,885 shares during the period. 32.40% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TH has been the subject of several research reports. Northland Securities raised shares of Target Hospitality from a “market perform” rating to an “outperform” rating and upped their price target for the company from $11.00 to $15.00 in a research report on Wednesday, January 29th. Stifel Nicolaus increased their price target on shares of Target Hospitality from $5.00 to $7.50 and gave the stock a “hold” rating in a research report on Monday, March 31st. Finally, Northland Capmk raised shares of Target Hospitality from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 29th.

Target Hospitality Stock Down 0.7 %

TH stock opened at $6.64 on Monday. The business’s 50-day moving average price is $6.70 and its 200-day moving average price is $8.09. The stock has a market cap of $659.78 million, a P/E ratio of 7.63, a PEG ratio of 1.81 and a beta of 1.70. Target Hospitality Corp. has a twelve month low of $4.00 and a twelve month high of $11.84.

Target Hospitality (NASDAQ:TH) last issued its quarterly earnings results on Wednesday, March 26th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.06. The business had revenue of $83.70 million for the quarter, compared to the consensus estimate of $80.10 million. Target Hospitality had a net margin of 20.84% and a return on equity of 22.80%. The company’s revenue for the quarter was down 33.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.29 earnings per share. On average, equities research analysts expect that Target Hospitality Corp. will post 0.65 earnings per share for the current fiscal year.

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.