Target Hospitality (NASDAQ:TH) Sets New 12-Month High – Here’s Why

Target Hospitality Corp. (NASDAQ:TH)’s stock price reached a new 52-week high during trading on Friday . The stock traded as high as $21.20 and last traded at $21.0670, with a volume of 190919 shares traded. The stock had previously closed at $20.76.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Northland Securities set a $25.00 price target on shares of Target Hospitality in a research report on Thursday, August 27th. Oppenheimer boosted their price objective on Target Hospitality from $24.00 to $27.00 and gave the stock an “outperform” rating in a report on Tuesday, September 8th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $23.00 price objective on shares of Target Hospitality in a research note on Thursday, August 27th. Morgan Stanley lifted their target price on Target Hospitality from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Weiss Ratings upgraded Target Hospitality from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Target Hospitality has a consensus rating of “Moderate Buy” and an average target price of $25.20.

Target Hospitality Stock Up 1.6%

The company has a market capitalization of $2.10 billion, a PE ratio of -55.84 and a beta of 1.51. The stock’s fifty day moving average is $17.34 and its two-hundred day moving average is $15.84. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.11.

Target Hospitality (NASDAQ:TH) last posted its quarterly earnings data 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%. As a group, analysts predict that Target Hospitality Corp. will post -0.05 EPS for the current year.

Insider Activity

In related news, CEO James Archer purchased 13,385 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was bought at an average price of $18.69 per share, for a total transaction of $250,165.65. Following the purchase, the chief executive officer directly owned 1,845,441 shares in the company, valued at approximately $34,491,292.29. This trade represents a 0.73% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Target Hospitality

Institutional investors have recently bought and sold shares of the company. Quantbot Technologies LP bought a new position in Target Hospitality during the second quarter valued at $27,000. Galaxy Digital Capital Management GP LLC purchased a new stake in Target Hospitality in the first quarter worth $67,000. AdvisorShares Investments LLC raised its stake in shares of Target Hospitality by 17.9% in the fourth quarter. AdvisorShares Investments LLC now owns 11,820 shares of the company’s stock valued at $95,000 after buying an additional 1,798 shares during the period. Amundi bought a new stake in shares of Target Hospitality in the first quarter valued at $101,000. Finally, Clear Harbor Asset Management LLC purchased a new position in shares of Target Hospitality during the 4th quarter valued at $112,000. Hedge funds and other institutional investors own 32.40% of the company’s stock.

About Target Hospitality

Target Hospitality Corp. (NASDAQ: TH) provides specialty hospitality and workforce accommodation services in North America. The company supports organizations that require temporary or long-term housing and related services in remote, industrial, government, and other challenging operating environments.

Its offerings include modular and prefabricated accommodations, lodging management, food and catering services, housekeeping, maintenance, transportation, security, and other on-site support.