Target Hospitality (NASDAQ:TH) Shares Gap Down – Should You Sell?

Target Hospitality Corp. (NASDAQ:TH) gapped down before the market opened on Monday . The stock had previously closed at $16.51, but opened at $15.53. Target Hospitality shares last traded at $17.2690, with a volume of 228,084 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Oppenheimer raised their target price on Target Hospitality from $21.00 to $24.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft initiated coverage on Target Hospitality in a research note on Monday, June 1st. They set a “hold” rating and a $22.00 price target for the company. Finally, Weiss Ratings lowered Target Hospitality from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $20.33.

Target Hospitality Stock Down 0.4%

The stock’s 50 day moving average is $17.57 and its 200 day moving average is $13.59. The company has a market capitalization of $1.65 billion, a PE ratio of -37.45 and a beta of 1.50. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.85 and a current ratio of 0.85.

Target Hospitality (NASDAQ:TH) last released its quarterly earnings data 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. Target Hospitality had a negative net margin of 13.47% and a negative return on equity of 11.11%. The business had revenue of $85.45 million during the quarter, compared to analyst estimates of $79.30 million. On average, sell-side analysts anticipate that Target Hospitality Corp. will post -0.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Target Hospitality

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of Target Hospitality during the 2nd quarter valued at $64,312,000. Deutsche Bank AG bought a new position in Target Hospitality in the 2nd quarter worth about $1,048,000. Bank of New York Mellon Corp bought a new position in Target Hospitality in the 2nd quarter worth about $8,140,000. State of Wyoming purchased a new position in Target Hospitality during the 2nd quarter valued at about $191,000. Finally, Bank of America Corp DE grew its holdings in Target Hospitality by 340.9% during the 1st quarter. Bank of America Corp DE now owns 131,198 shares of the company’s stock valued at $1,218,000 after buying an additional 101,440 shares in the last quarter. 32.40% of the stock is currently owned by hedge funds and other institutional investors.

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.