OMERS ADMINISTRATION Corp Buys New Stake in Target Hospitality Corp. $TH

OMERS ADMINISTRATION Corp purchased a new stake in Target Hospitality Corp. (NASDAQ:TH) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 26,600 shares of the company’s stock, valued at approximately $542,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TH. BlackRock Inc. purchased a new position in shares of Target Hospitality during the 2nd quarter valued at about $64,312,000. 71 West Capital Partners purchased a new stake in shares of Target Hospitality in the fourth quarter worth about $7,147,000. Vanguard Group Inc. grew its holdings in Target Hospitality by 43.0% during the third quarter. Vanguard Group Inc. now owns 1,994,641 shares of the company’s stock worth $16,915,000 after acquiring an additional 600,181 shares during the period. Bank of New York Mellon Corp acquired a new stake in Target Hospitality during the second quarter worth about $8,140,000. Finally, Royce & Associates LP purchased a new position in Target Hospitality during the fourth quarter valued at approximately $2,801,000. 32.40% of the stock is owned by institutional investors and hedge funds.

Target Hospitality Stock Performance

NASDAQ:TH opened at $18.96 on Friday. The company’s 50-day moving average is $17.45 and its two-hundred day moving average is $14.58. Target Hospitality Corp. has a 1-year low of $5.97 and a 1-year high of $20.85. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of -49.89 and a beta of 1.49.

Target Hospitality (NASDAQ:TH) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. The business had revenue of $85.45 million during the quarter, compared to the consensus estimate of $79.30 million. Target Hospitality had a negative net margin of 10.85% and a negative return on equity of 9.80%. Analysts forecast that Target Hospitality Corp. will post -0.2 EPS for the current year.

Analysts Set New Price Targets

TH has been the topic of several recent research reports. Weiss Ratings upgraded Target Hospitality from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, August 21st. Northland Securities set a $25.00 target price on shares of Target Hospitality in a report on Thursday. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $23.00 target price on shares of Target Hospitality in a research note on Thursday. Stifel Nicolaus set a $26.00 price target on shares of Target Hospitality in a report on Thursday. Finally, Morgan Stanley began coverage on Target Hospitality in a report on Monday, August 17th. They issued an “overweight” rating and a $22.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $24.00.

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.