Target Hospitality (NASDAQ:TH) Shares Gap Down – Here’s What Happened

Target Hospitality Corp. (NASDAQ:TH) gapped down prior to trading on Wednesday . The stock had previously closed at $20.25, but opened at $18.75. Target Hospitality shares last traded at $19.37, with a volume of 4,181,984 shares.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TH shares. Oppenheimer boosted their target price on Target Hospitality from $24.00 to $27.00 and gave the company an “outperform” rating in a research note on Tuesday. Morgan Stanley assumed coverage on Target Hospitality in a research note on Monday, August 17th. They issued an “overweight” rating and a $22.00 price target for the company. Weiss Ratings upgraded shares of Target Hospitality from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, August 21st. Northland Securities set a $25.00 price objective on shares of Target Hospitality in a research report on Thursday, August 27th. Finally, Stifel Nicolaus set a $26.00 price objective on shares of Target Hospitality in a report on Thursday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.60.

Target Hospitality Trading Down 0.4%

The stock has a 50-day moving average of $17.24 and a two-hundred day moving average of $15.42. The company has a market cap of $1.90 billion, a P/E ratio of -50.32 and a beta of 1.51. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.65 and a current ratio of 0.65.

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 10.85% and a negative return on equity of 9.80%. The business had revenue of $85.45 million during the quarter, compared to analyst estimates of $79.30 million. On average, equities research analysts predict that Target Hospitality Corp. will post -0.05 earnings per share for the current year.

Institutional Investors Weigh In On Target Hospitality

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Quantbot Technologies LP bought a new position in shares of Target Hospitality during the second quarter valued at approximately $27,000. Deutsche Bank AG grew its holdings in shares of Target Hospitality by 4.8% in the fourth quarter. Deutsche Bank AG now owns 33,634 shares of the company’s stock worth $269,000 after purchasing an additional 1,526 shares during the last quarter. AdvisorShares Investments LLC increased its stake in Target Hospitality by 17.9% in the 4th quarter. AdvisorShares Investments LLC now owns 11,820 shares of the company’s stock worth $95,000 after buying an additional 1,798 shares during the period. IFP Advisors Inc lifted its holdings in Target Hospitality by 88.0% during the 3rd quarter. IFP Advisors Inc now owns 4,002 shares of the company’s stock valued at $35,000 after buying an additional 1,873 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in Target Hospitality by 121.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,494 shares of the company’s stock valued at $38,000 after buying an additional 2,465 shares during the period. Hedge funds and other institutional investors own 32.40% of the company’s stock.

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.