Target Hospitality (NASDAQ:TH) Stock Price Up 6.4% on Analyst Upgrade

Target Hospitality Corp. (NASDAQ:TH) shares traded up 6.4% during mid-day trading on Tuesday after Oppenheimer raised their price target on the stock from $21.00 to $24.00. Oppenheimer currently has an outperform rating on the stock. Target Hospitality traded as high as $18.06 and last traded at $17.8190. Approximately 196,219 shares were traded during mid-day trading, a decline of 81% from the average session volume of 1,039,311 shares. The stock had previously closed at $16.74.

A number of other research firms also recently commented on TH. Wall Street Zen raised Target Hospitality from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Stifel Nicolaus reiterated a “buy” rating and set a $15.00 target price (up from $11.00) on shares of Target Hospitality in a report on Monday, April 6th. Deutsche Bank Aktiengesellschaft started coverage on shares of Target Hospitality in a report on Monday, June 1st. They set a “hold” rating and a $22.00 price target for the company. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Target Hospitality in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $20.33.

Institutional Investors Weigh In On Target Hospitality

Several institutional investors and hedge funds have recently modified their holdings of the stock. IFP Advisors Inc boosted its holdings in Target Hospitality by 88.0% in the 3rd quarter. IFP Advisors Inc now owns 4,002 shares of the company’s stock worth $35,000 after acquiring an additional 1,873 shares during the period. Russell Investments Group Ltd. increased its stake in Target Hospitality by 121.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,494 shares of the company’s stock worth $38,000 after buying an additional 2,465 shares during the period. Galaxy Digital Capital Management GP LLC purchased a new stake in Target Hospitality during the 1st quarter worth $67,000. Amundi acquired a new position in shares of Target Hospitality in the first quarter worth about $101,000. Finally, FourThought Financial Partners LLC acquired a new position in shares of Target Hospitality in the 3rd quarter valued at approximately $95,000. Hedge funds and other institutional investors own 32.40% of the company’s stock.

Target Hospitality Stock Up 5.9%

The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of -40.28 and a beta of 1.46. The firm’s fifty day moving average is $18.12 and its 200-day moving average is $12.53. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.85 and a quick ratio of 0.85.

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

Target Hospitality Company Profile

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.