Target Hospitality (NASDAQ:TH) Posts Earnings Results, Misses Expectations By $0.03 EPS

Target Hospitality (NASDAQ:TH) announced its earnings results on Monday. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.03), Zacks reports. The company had revenue of $69.90 million during the quarter, compared to analysts’ expectations of $65.37 million. Target Hospitality had a return on equity of 22.80% and a net margin of 20.84%. The firm’s revenue was down 34.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.20 earnings per share.

Target Hospitality Price Performance

TH traded down $0.21 on Tuesday, hitting $7.25. The company had a trading volume of 584,550 shares, compared to its average volume of 602,679. Target Hospitality has a 52-week low of $4.00 and a 52-week high of $11.57. The stock has a fifty day simple moving average of $6.60 and a 200-day simple moving average of $7.99. The firm has a market capitalization of $720.39 million, a P/E ratio of 8.33, a P/E/G ratio of 1.81 and a beta of 1.89.

Institutional Trading of Target Hospitality

Institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its holdings in Target Hospitality by 104.9% in the first quarter. Goldman Sachs Group Inc. now owns 280,288 shares of the company’s stock valued at $1,844,000 after acquiring an additional 143,505 shares during the period. Empowered Funds LLC purchased a new stake in shares of Target Hospitality during the 1st quarter valued at about $660,000. Royal Bank of Canada lifted its stake in shares of Target Hospitality by 3,549.2% in the 1st quarter. Royal Bank of Canada now owns 43,863 shares of the company’s stock worth $289,000 after purchasing an additional 42,661 shares during the period. Finally, AQR Capital Management LLC purchased a new position in shares of Target Hospitality in the first quarter worth approximately $114,000. 32.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Northland Capmk upgraded shares of Target Hospitality from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 29th. Stifel Nicolaus increased their target price on Target Hospitality from $5.00 to $7.50 and gave the company a “hold” rating in a report on Monday, March 31st. Finally, Northland Securities raised Target Hospitality from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $11.00 to $15.00 in a research note on Wednesday, January 29th.

Target Hospitality Company Profile

Target Hospitality Corp. operates as a specialty rental and hospitality services company in North America. The company operates through two segments, Hospitality & Facilities Services – South and Government. It owns a network of specialty rental accommodation units. In addition, the company provides catering and food, maintenance, housekeeping, grounds-keeping, security, health and recreation facilities, workforce community management, concierge, and laundry services.