Oppenheimer Forecasts Strong Price Appreciation for Target Hospitality (NASDAQ:TH) Stock

Target Hospitality (NASDAQ:TH) had its price objective raised by investment analysts at Oppenheimer from $21.00 to $24.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s target price indicates a potential upside of 43.37% from the stock’s previous close.

A number of other analysts have also weighed in on the stock. Wall Street Zen upgraded shares of Target Hospitality from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. Stifel Nicolaus reiterated a “buy” rating and issued a $15.00 price target (up from $11.00) on shares of Target Hospitality in a research note on Monday, April 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of Target Hospitality in a report on Wednesday, June 24th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Target Hospitality in a research report on Monday, June 1st. They issued a “hold” rating and a $22.00 price objective on the stock. 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Target Hospitality currently has an average rating of “Moderate Buy” and an average price target of $20.33.

Target Hospitality Price Performance

Shares of NASDAQ TH opened at $16.74 on Tuesday. The stock’s 50-day moving average is $18.12 and its two-hundred day moving average is $12.53. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.85 and a quick ratio of 0.85. Target Hospitality has a 1-year low of $5.97 and a 1-year high of $20.85. The company has a market cap of $1.68 billion, a price-to-earnings ratio of -38.05 and a beta of 1.46.

Target Hospitality (NASDAQ:TH) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). The company had revenue of $72.78 million during the quarter, compared to analyst estimates of $73.20 million. Target Hospitality had a negative net margin of 13.47% and a negative return on equity of 11.11%. Analysts forecast that Target Hospitality will post -0.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. IFP Advisors Inc lifted its stake in Target Hospitality by 88.0% during the third quarter. IFP Advisors Inc now owns 4,002 shares of the company’s stock worth $35,000 after purchasing an additional 1,873 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Target Hospitality by 121.5% in the third quarter. Russell Investments Group Ltd. now owns 4,494 shares of the company’s stock valued at $38,000 after purchasing an additional 2,465 shares during the last quarter. Galaxy Digital Capital Management GP LLC acquired a new stake in Target Hospitality during the first quarter worth approximately $67,000. Tripletail Wealth Management LLC raised its holdings in Target Hospitality by 62.2% during the fourth quarter. Tripletail Wealth Management LLC now owns 11,630 shares of the company’s stock worth $93,000 after purchasing an additional 4,460 shares in the last quarter. Finally, AdvisorShares Investments LLC lifted its position in shares of Target Hospitality by 17.9% during 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 last quarter. Hedge funds and other institutional investors own 32.40% of the company’s stock.

About Target Hospitality

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.