Target Hospitality (NASDAQ:TH) Shares Down 7.7% – Here’s What Happened

Target Hospitality Corp. (NASDAQ:TH)’s share price was down 7.7% during mid-day trading on Thursday. The company traded as low as $15.98 and last traded at $15.9380. 1,557,488 shares were traded during mid-day trading, an increase of 22% from the average daily volume of 1,277,880 shares. The stock had previously closed at $17.26.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $23.00 price target on shares of Target Hospitality in a research note on Thursday, August 27th. Northland Securities set a $25.00 price objective on shares of Target Hospitality in a research note on Thursday, August 27th. Morgan Stanley lifted their price objective on shares of Target Hospitality from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, September 14th. Weiss Ratings raised shares of Target Hospitality from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. Finally, Oppenheimer increased their target price on shares of Target Hospitality from $24.00 to $27.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $25.20.

Target Hospitality Stock Performance

The stock has a 50 day simple moving average of $18.63 and a 200 day simple moving average of $17.29. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.11. The stock has a market cap of $1.58 billion, a P/E ratio of -41.51 and a beta of 1.49.

Target Hospitality (NASDAQ:TH) last released its earnings results on Monday, August 10th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. The firm had revenue of $85.45 million during the quarter, compared to the consensus estimate of $79.30 million. Target Hospitality had a negative return on equity of 9.80% and a negative net margin of 10.85%. On average, equities analysts expect that Target Hospitality Corp. will post -0.04 earnings per share for the current year.

Insider Transactions at Target Hospitality

In related news, CEO James Archer purchased 13,385 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The stock was acquired at an average price of $18.69 per share, with a total value of $250,165.65. Following the completion of the purchase, the chief executive officer directly owned 1,845,441 shares in the company, valued at $34,491,292.29. This trade represents a 0.73% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Troy Schrenk acquired 5,907 shares of the business’s stock in a transaction that occurred on Friday, September 18th. The shares were purchased at an average cost of $21.16 per share, with a total value of $124,992.12. Following the transaction, the insider directly owned 216,995 shares of the company’s stock, valued at $4,591,614.20. This trade represents a 2.80% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 3.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Target Hospitality

Hedge funds and other institutional investors have recently made changes to their positions in the company. State of Alaska Department of Revenue lifted its holdings in shares of Target Hospitality by 16.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 6,160 shares of the company’s stock worth $121,000 after acquiring an additional 863 shares during the period. WINTON GROUP Ltd acquired a new stake in shares of Target Hospitality during the 2nd quarter worth approximately $1,498,000. HighTower Advisors LLC increased its stake in Target Hospitality by 14.9% in the second quarter. HighTower Advisors LLC now owns 1,842,267 shares of the company’s stock valued at $37,509,000 after acquiring an additional 238,280 shares during the last quarter. AXQ Capital LP bought a new position in Target Hospitality in the second quarter valued at approximately $471,000. Finally, Senator Investment Group LP bought a new position in Target Hospitality in the second quarter valued at approximately $28,491,000. 32.40% of the stock is currently owned by institutional investors and hedge funds.

Target Hospitality Company Profile

Target Hospitality Corporation (NASDAQ: TH) is a provider of vertically integrated hospitality and support services for organizations operating in remote or workforce-intensive locations. The company develops and operates purpose-built workforce accommodations, commonly known as man camps, and provides related services designed to support employees and other residents at these facilities.

Its services may include lodging, dining and catering, housekeeping, laundry, transportation and logistics, facility management, recreation, and other on-site amenities.