Target Hospitality (NASDAQ:TH) Reaches New 1-Year High – Time to Buy?

Target Hospitality Corp. (NASDAQ:TH)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $19.00 and last traded at $18.91, with a volume of 1091785 shares trading hands. The stock had previously closed at $18.40.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TH. Oppenheimer increased their price objective on shares of Target Hospitality from $18.00 to $21.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Texas Capital raised shares of Target Hospitality from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 12th. Weiss Ratings reissued a “sell (d)” rating on shares of Target Hospitality in a research note on Friday, March 27th. Stifel Nicolaus reissued a “buy” rating and issued a $15.00 price objective (up from $11.00) on shares of Target Hospitality in a research note on Monday, April 6th. Finally, Wall Street Zen raised shares of Target Hospitality from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.33.

Target Hospitality Price Performance

The company’s 50 day moving average price is $16.13 and its 200-day moving average price is $10.90. The stock has a market cap of $1.89 billion, a P/E ratio of -42.98 and a beta of 1.47. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.08.

Target Hospitality (NASDAQ:TH) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The business had revenue of $72.78 million for the quarter, compared to the consensus estimate of $73.20 million. Target Hospitality had a negative net margin of 13.47% and a negative return on equity of 11.11%. As a group, sell-side analysts expect that Target Hospitality Corp. will post -0.19 earnings per share for the current year.

Hedge Funds Weigh In On Target Hospitality

Several large investors have recently modified their holdings of the business. Bank of America Corp DE raised its stake in shares of Target Hospitality by 340.9% during the first quarter. Bank of America Corp DE now owns 131,198 shares of the company’s stock valued at $1,218,000 after acquiring an additional 101,440 shares during the last quarter. Amundi bought a new position in shares of Target Hospitality during the first quarter valued at $101,000. Galaxy Digital Capital Management GP LLC bought a new position in shares of Target Hospitality during the first quarter valued at $67,000. Renaissance Technologies LLC raised its stake in shares of Target Hospitality by 4.5% during the first quarter. Renaissance Technologies LLC now owns 951,302 shares of the company’s stock valued at $8,828,000 after acquiring an additional 40,878 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in Target Hospitality by 15.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,081,081 shares of the company’s stock worth $10,032,000 after buying an additional 147,950 shares during the last quarter. Institutional investors 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.