Oppenheimer Issues Positive Forecast for Target Hospitality (NASDAQ:TH) Stock Price

Target Hospitality (NASDAQ:TH) had its price target raised by stock analysts at Oppenheimer from $11.00 to $18.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price objective points to a potential upside of 20.12% from the stock’s previous close.

A number of other research firms have also issued reports on TH. Wall Street Zen raised Target Hospitality from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. Weiss Ratings reissued a “sell (d)” rating on shares of Target Hospitality in a research note on Friday, March 27th. Texas Capital raised Target Hospitality from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 12th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $15.00 target price (up from $11.00) on shares of Target Hospitality in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $16.50.

Target Hospitality Stock Performance

Target Hospitality stock opened at $14.99 on Thursday. Target Hospitality has a fifty-two week low of $5.97 and a fifty-two week high of $15.10. The company has a market capitalization of $1.50 billion, a P/E ratio of -39.21 and a beta of 1.12. The stock has a 50-day simple moving average of $8.68 and a 200-day simple moving average of $8.06.

Target Hospitality (NASDAQ:TH) last posted its earnings results on Wednesday, March 11th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.05). Target Hospitality had a negative net margin of 11.58% and a negative return on equity of 8.65%. The firm had revenue of $89.78 million during the quarter, compared to analysts’ expectations of $85.20 million. As a group, analysts forecast that Target Hospitality will post 0.65 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Heidi Diane Lewis sold 9,000 shares of Target Hospitality stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $7.34, for a total value of $66,060.00. Following the completion of the transaction, the executive vice president directly owned 131,742 shares in the company, valued at approximately $966,986.28. This trade represents a 6.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 68.00% of the company’s stock.

Hedge Funds Weigh In On Target Hospitality

A number of hedge funds have recently bought and sold shares of TH. 71 West Capital Partners acquired a new position in Target Hospitality in the fourth quarter worth about $7,147,000. Vanguard Group Inc. grew its stake in Target Hospitality by 43.0% in the third quarter. Vanguard Group Inc. now owns 1,994,641 shares of the company’s stock worth $16,915,000 after purchasing an additional 600,181 shares in the last quarter. Royce & Associates LP acquired a new position in Target Hospitality in the fourth quarter worth about $2,801,000. Arrowstreet Capital Limited Partnership grew its stake in Target Hospitality by 25.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,051,089 shares of the company’s stock worth $8,913,000 after purchasing an additional 211,634 shares in the last quarter. Finally, Rubric Capital Management LP grew its stake in Target Hospitality by 9.5% in the second quarter. Rubric Capital Management LP now owns 2,189,456 shares of the company’s stock worth $15,589,000 after purchasing an additional 189,456 shares in the last quarter. 32.40% of the stock is currently owned by institutional investors and hedge funds.

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.