Target Hospitality (NASDAQ:TH) Shares Up 14.4% – Here’s Why

Target Hospitality Corp. (NASDAQ:TH) traded up 14.4% during trading on Wednesday. The stock traded as high as $11.40 and last traded at $11.78. 173,044 shares were traded during trading, a decline of 88% from the average daily volume of 1,413,518 shares. The stock had previously closed at $10.30.

Wall Street Analyst Weigh In

TH has been the topic of several recent research reports. Oppenheimer increased their price objective on shares of Target Hospitality from $24.00 to $27.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 8th. Morgan Stanley boosted their target price on shares of Target Hospitality from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, September 14th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $23.00 target price on shares of Target Hospitality in a research report on Thursday, August 27th. Weiss Ratings downgraded Target Hospitality from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Monday. Finally, Northland Securities set a $25.00 price objective on Target Hospitality in a research note on Thursday, August 27th. 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 stock. According to data from MarketBeat.com, Target Hospitality has an average rating of “Moderate Buy” and a consensus price target of $25.20.

Target Hospitality Stock Up 14.7%

The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of -25.70 and a beta of 1.56. The business’s fifty day moving average price is $17.19 and its 200 day moving average price is $14.84. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.11.

Target Hospitality (NASDAQ:TH) last posted its quarterly earnings data on Monday, November 9th. The company reported ($0.09) earnings per share for the quarter. The firm had revenue of $129.06 million during the quarter, compared to analyst estimates of $118.35 million. Target Hospitality had a negative net margin of 12.23% and a negative return on equity of 11.92%. On average, equities analysts expect that Target Hospitality Corp. will post -0.04 EPS for the current year.

Insider Activity

In other news, insider Troy C. Schrenk purchased 5,907 shares of the firm’s stock in a transaction that occurred on Friday, September 18th. The stock was acquired at an average cost of $21.16 per share, for a total transaction of $124,992.12. Following the completion of the purchase, the insider owned 216,995 shares of the company’s stock, valued at approximately $4,591,614.20. This trade represents a 2.80% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Archer acquired 13,385 shares of the company’s stock in a transaction dated Tuesday, September 15th. The stock was purchased at an average cost of $18.69 per share, for a total transaction of $250,165.65. Following the purchase, the chief executive officer directly owned 1,845,441 shares in the company, valued at approximately $34,491,292.29. This represents a 0.73% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 3.80% of the stock is owned by company insiders.

Institutional Trading of Target Hospitality

Several large investors have recently added to or reduced their stakes in TH. BlackRock Inc. acquired a new stake in Target Hospitality during the second quarter valued at approximately $64,312,000. Hsbc Holdings PLC acquired a new position in Target Hospitality during the second quarter worth $1,506,000. Bank of America Corp DE acquired a new position in Target Hospitality during the second quarter worth $7,142,000. Bank of New York Mellon Corp bought a new position in shares of Target Hospitality during the second quarter valued at $8,140,000. Finally, Legal & General Group Plc bought a new position in shares of Target Hospitality during the second quarter valued at $1,476,000. 32.40% of the stock is owned by institutional investors.

Target Hospitality Company Profile

Target Hospitality Corporation provides modular accommodations and hospitality services for workers and other groups who need lodging near remote or specialized locations. Its services include lodging, dining, housekeeping, laundry, and recreation, with facilities designed to support extended stays. The company serves customers in industries such as energy and natural resources, as well as government clients. Its operations are primarily in the United States, including locations in the Permian Basin and other areas where traditional lodging may be limited.