Target Hospitality (NASDAQ:TH) Shares Gap Up – Still a Buy?

Target Hospitality Corp. (NASDAQ:TH) gapped up before the market opened on Wednesday . The stock had previously closed at $17.39, but opened at $18.35. Target Hospitality shares last traded at $18.0520, with a volume of 329,303 shares trading hands.

Analysts Set New Price Targets

Several research analysts have weighed in on TH shares. Northland Securities set a $25.00 price target on Target Hospitality in a research report on Thursday. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $23.00 price objective on shares of Target Hospitality in a report on Thursday. Weiss Ratings raised shares of Target Hospitality from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, August 21st. Oppenheimer boosted their target price on shares of Target Hospitality from $21.00 to $24.00 and gave the stock an “outperform” rating in a report on Tuesday, July 14th. Finally, Stifel Nicolaus set a $26.00 price target on shares of Target Hospitality in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $24.00.

Target Hospitality Price Performance

The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.11. The firm has a market cap of $1.89 billion, a P/E ratio of -49.89 and a beta of 1.49. The business has a fifty day moving average of $17.45 and a 200 day moving average of $14.58.

Target Hospitality (NASDAQ:TH) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. Target Hospitality had a negative return on equity of 9.80% and a negative net margin of 10.85%.The firm had revenue of $85.45 million for the quarter, compared to the consensus estimate of $79.30 million. On average, sell-side analysts anticipate that Target Hospitality Corp. will post -0.2 earnings per share for the current year.

Institutional Investors Weigh In On Target Hospitality

Large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its holdings in shares of Target Hospitality by 21.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,428,773 shares of the company’s stock worth $13,259,000 after acquiring an additional 252,212 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Target Hospitality by 15.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,081,081 shares of the company’s stock valued at $10,032,000 after purchasing an additional 147,950 shares during the last quarter. Nicholas Investment Partners LP bought a new position in shares of Target Hospitality during the second quarter worth approximately $5,489,000. Kore Advisors LP increased its stake in shares of Target Hospitality by 30.9% during the fourth quarter. Kore Advisors LP now owns 425,213 shares of the company’s stock worth $3,406,000 after purchasing an additional 100,418 shares during the period. Finally, 71 West Capital Partners acquired a new stake in Target Hospitality during the 4th quarter worth approximately $7,147,000. 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.