Target Hospitality (NASDAQ:TH) Sets New 52-Week High – Here’s Why

Target Hospitality Corp. (NASDAQ:TH) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $14.13 and last traded at $13.62, with a volume of 961262 shares traded. The stock had previously closed at $13.88.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Stifel Nicolaus restated a “buy” rating and set a $15.00 price objective (up from $11.00) on shares of Target Hospitality in a research note on Monday. Texas Capital upgraded Target Hospitality from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 12th. Weiss Ratings restated a “sell (d)” rating on shares of Target Hospitality in a research note on Friday, March 27th. Wall Street Zen upgraded Target Hospitality from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Oppenheimer upgraded Target Hospitality from a “market perform” rating to an “outperform” rating and set a $11.00 price target for the company in a research report on Tuesday, March 17th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Target Hospitality presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.00.

Target Hospitality Trading Down 1.9%

The stock has a 50-day simple moving average of $8.39 and a 200-day simple moving average of $7.98. The company has a market cap of $1.36 billion, a price-to-earnings ratio of -35.84 and a beta of 1.12.

Target Hospitality (NASDAQ:TH) last announced its quarterly earnings results on Wednesday, March 11th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.05). Target Hospitality had a negative return on equity of 8.65% and a negative net margin of 11.58%.The business had revenue of $89.78 million for the quarter, compared to analyst estimates of $85.20 million. As a group, research analysts expect that Target Hospitality Corp. will post 0.65 EPS for the current fiscal year.

Insider Transactions at Target Hospitality

In other Target Hospitality news, EVP Heidi Diane Lewis sold 9,000 shares of the business’s stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $7.34, for a total transaction of $66,060.00. Following the completion of the transaction, the executive vice president owned 131,742 shares in the company, valued at approximately $966,986.28. The trade was a 6.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 68.00% of the company’s stock.

Institutional Trading of Target Hospitality

Several institutional investors have recently modified their holdings of TH. Royal Bank of Canada lifted its holdings in shares of Target Hospitality by 3,549.2% in the first quarter. Royal Bank of Canada now owns 43,863 shares of the company’s stock valued at $289,000 after buying an additional 42,661 shares during the period. AQR Capital Management LLC acquired a new stake in shares of Target Hospitality in the first quarter valued at $114,000. Goldman Sachs Group Inc. lifted its holdings in shares of Target Hospitality by 104.9% in the first quarter. Goldman Sachs Group Inc. now owns 280,288 shares of the company’s stock valued at $1,844,000 after buying an additional 143,505 shares during the period. Empowered Funds LLC acquired a new stake in shares of Target Hospitality in the first quarter valued at $660,000. Finally, Strs Ohio acquired a new stake in shares of Target Hospitality in the first quarter valued at $131,000. Institutional investors and hedge funds own 32.40% of the company’s stock.

About Target Hospitality

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.