Legal & General Group Plc Buys Shares of 72,490 Target Hospitality Corp. $TH

Legal & General Group Plc purchased a new position in shares of Target Hospitality Corp. (NASDAQ:TH) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 72,490 shares of the company’s stock, valued at approximately $1,476,000.

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. purchased a new position in Target Hospitality in the second quarter valued at approximately $64,312,000. Arrowstreet Capital Limited Partnership increased its position in Target Hospitality by 15.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,081,081 shares of the company’s stock worth $10,032,000 after buying an additional 147,950 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Target Hospitality by 21.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,428,773 shares of the company’s stock worth $13,259,000 after buying an additional 252,212 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Target Hospitality in the second quarter valued at $2,676,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Target Hospitality in the second quarter valued at $8,140,000. Institutional investors own 32.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Northland Securities set a $25.00 price target on Target Hospitality in a research note on Thursday, August 27th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $23.00 price objective on shares of Target Hospitality in a research note on Thursday, August 27th. Stifel Nicolaus set a $26.00 price objective on shares of Target Hospitality in a report on Thursday, August 27th. Weiss Ratings upgraded shares of Target Hospitality from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, August 21st. Finally, Morgan Stanley began coverage on shares of Target Hospitality in a research note on Monday, August 17th. They issued an “overweight” rating and a $22.00 target price for the company. 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $24.00.

Target Hospitality Price Performance

Target Hospitality stock opened at $19.52 on Monday. The firm has a market capitalization of $1.94 billion, a P/E ratio of -51.37 and a beta of 1.51. Target Hospitality Corp. has a one year low of $5.97 and a one year high of $20.85. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.65 and a quick ratio of 0.65. The business has a fifty day moving average price of $17.25 and a 200-day moving average price of $15.06.

Target Hospitality (NASDAQ:TH) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. The company had revenue of $85.45 million for the quarter, compared to analyst estimates of $79.30 million. Target Hospitality had a negative return on equity of 9.80% and a negative net margin of 10.85%. As a group, equities research analysts forecast that Target Hospitality Corp. will post -0.08 EPS for the current year.

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.